Five Sigma Announces Extension of Series A Investment in Aquiline Technology Growth
TEL AVIV, Israel and NEW YORK, January 19, 2022 /PRNewswire/ — Five Sigma, a provider of cloud-native claims management solutions, today announced an extension to its Aquiline Technology Growth (ATG) Series A round, bringing the company’s total funding to date to more than $20 million. The company’s Series A funding was originally announced in September 2021.
Five Sigma is an industry-changing cloud-native, data-driven claims management solution (CMS) with built-in artificial intelligence and machine learning capabilities to enable intelligent claims handling for the industry insurance. Five Sigma optimizes claims management by adding automated claims handling workflows, using data modeling and AI to provide intelligent recommendations, resulting in increased operational efficiency, improved customer experience, time faster resolution and improvement of the complaints management process. Current customers include INSHUR, Hippo, Marshmallow, Qover and others.
“Aquiline’s support is a major recognition of the strength of Five Sigma technology and its proven ability to deliver best-in-class solutions,” said Oded Barack, CEO and co-founder of Five Sigma. “The insurance claims landscape is changing, and we are excited to be at the forefront of this transformation. Aquiline’s investment will further position us to deliver on our vision to lead the insurance claims industry. claims into the future with agile, fully digital and data-driven claims solutions.”
“Five Sigma’s digital claims management platform will disrupt traditional providers and provide enterprise customers with a modern and efficient solution,” said Jeff Greenberg, Chairman and CEO of Aquiline Capital Partners. “We look forward to partnering with Oded and his team to share our knowledge, experience and network and contribute to the next phase of business growth.”
About Five Sigma
Five Sigma was founded in 2017. It develops and delivers an end-to-end claims management platform for the personal and commercial P&C market. The platform handles all aspects of claims management, including claims registration/first notice of loss (FNOL), coverage, liability, finance (provision and payments), collection and quality assurance – all designed to improve claims accuracy, improve policyholder experience, ensure compliance and operational productivity, and make claims data readily available within an insurer’s ecosystem for AI /ML, risk selection and other purposes.
Five Sigma works directly with its customers to align Five Sigma CMS capabilities with their specific initiatives, accelerating time to market with desired business results.
For more information, visit https://fivesigmalabs.com
About the Growth of Aquiline Technology
Aquiline Technology Growth (ATG) seeks to invest in early-stage and growth-stage technology companies that bring innovation to the insurance and financial services ecosystems. ATG is managed by Aquiline Capital Partners, a private investment firm based in New York and London invest in companies in the financial services and technology, business services and healthcare sectors. The ATG team has a background in technology and financial services and is supported by colleagues at Aquiline, strategic partners and an active group of industry executive advisors. For more information about ATG, visit http://www.aquiline.com/atg.
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SOURCE Five Sigma