New York software company Five Sigma has unveiled an artificial intelligence claims adjuster it has dubbed Clive.

The tool will “redefine how claims are handled by insurers, managing general agents and third-party administrators, setting new benchmarks in efficiency, accuracy and cost reduction”, Five Sigma says.

“Clive is a powerful assistant to human adjusters, meticulously engineered to augment their work by automating time-consuming tasks. This approach frees up adjusters to concentrate on more complex aspects of claims handling, such as personalised customer care and making decisions.

“Human adjusters who own the claims handled primarily by Clive are therefore able to demonstrate superb processing results and enjoy more meaningful work than what adjusters’ are usually used to, dealing with a lot of repetitive tasks under constant pressure.”

Clive can operate on claims management systems including Guidewire, Duck Creek, Sapiens or Majesco, automating tasks traditionally completed by human adjusters across lines of business.

“His capabilities span the entire claim life cycle from initial loss notification through to settlement,” Five Sigma says. 

Clive collects and analyses claim-related data, performs tasks tailored to each stage of a claim and dynamically adjusts actions based on new information. “It ensures seamless interaction with policyholders, keeping them informed every step of the way.”

Five Sigma CEO Oded Barak says Clive is “a revolution in claims management”.

“Clive acts as a proficient and effective claims adjuster – the future of claims is here and now. We’re empowering our customers, and the insurance industry, to achieve unparalleled efficiency and greater customer satisfaction,” he said.