Five Sigma
AI-native claims management technology bringing clarity, accuracy, and trust to insurance claims
Overview
Five Sigma is an AI-native claims management technology company that provides insurers with advanced tools to modernize their claims operations. Founded in 2017 by Oded Barak, Dror Sholomon, Michael Krikheli, and Edan Hanina, the company emerged from consultations with claims professionals at CSAA and Progressive Insurance who were frustrated with outdated systems and manual processes.
The company offers two core products: Clive, the industry's first Multi-Agent AI Claims Expert that works on top of any existing claims management system, and a comprehensive cloud-based Claims Management Platform with Clive built in. Together, these solutions enable insurers to automate routine claims tasks, reduce Loss Adjustment Expenses, accelerate cycle times, and improve the policyholder experience without requiring replacement of legacy infrastructure.
Five Sigma's name references the physics concept of five sigma, the gold standard for precision in particle physics, reflecting the company's mission to deliver clarity, accuracy, and trust in claims management. The company serves P&C carriers, MGAs, TPAs, self-insured organizations, reinsurers, and mutual insurers globally, with customers reporting up to 35% reduction in unit claim costs and 36% improvement in cycle times.
Products & Services
Clive - Multi-Agent AI Claims Expert
The industry's first Multi-Agent AI Claims Expert, designed to work on top of any existing claims management system without requiring core system replacement.
Key Features
- Multi-agent AI architecture handling different claim stages
- Automated intake, triage, and coverage assessment
- Dynamic claim planning and advancement per insurer SOPs
- Liability assessment and fraud detection
- Automated communications generation
- Risk assessment and compliance monitoring
- Quality assurance automation
- Settlement recommendations
- Zero-risk launchpad/sandbox for testing
Target Users: Claims Adjusters, Claims Managers, Carriers, MGAs, TPAs
Five Sigma Claims Management Platform
AI-native, cloud-based SaaS claims management system with Clive built in, providing end-to-end claims lifecycle management from FNOL to payment.
Key Features
- 360-degree claim visibility in a single interface
- Omnichannel communications hub with summarization
- Configurable workflows and automation rules
- Straight-through processing capabilities
- Real-time alerts and claims triaging
- Management dashboards and reporting analytics
- API and plug-and-play integrations
- Data-driven insights and predictive analytics
Target Users: Carriers, MGAs, TPAs, Self-Insured Organizations
At a Glance
- Founded
- 2017
- Headquarters
- Tel Aviv, Israel
- Employees
- 11-50
- Funding
- Series A
Category & Focus
- Category
- Claims Management
- Subcategories
- AI Claims Automation Claims Management System Multi-Agent AI
- Insurance Verticals
- P&C Personal P&C Commercial Specialty
- Target Customers
- Carriers, MGAs, TPAs, Self-Insured, Reinsurers, Mutuals
Customers
- INSHUR
- Hippo
- Qover
- Palomar
- Marshmallow
- Upland Capital Group
- Xceedance
- Resorts World Las Vegas (MGM)
- 50% reduction in email handling time
- 35% reduction in unit claim costs (Qover)
- 36% cycle time improvement
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Last updated: 2026-03-25