The Future of Insurance Podcast – Oded Barak, Co-Founder & CEO, Five Sigma

Oded Barak is the Co-founder and CEO of Five Sigma, a leading SaaS Claims Management solution. His previous experience includes leadership positions at Amdocs (DOX), Oteko and an investment banker at Goldman Sacks. Oded holds an MBA from Northwestern – Kellogg School of Management in Chicago. He is a father of three and lives in Israel.

Highlights from the Show

• Aside from Office, Windows and other things we know well from Microsoft, they have a number of enabling technologies supporting insurance carriers
• They help carriers improve customer experience, lower cost, and helping with the move from Repair & Replace to Predict & Prevent
• Carriers are very focused on improving customer experience right now, especially from changes that had to be made during COVID; how can we lower the cost of claims; attracting and retaining the next generation of employees
• The future needs to be easy and valuable, where having the insurance is just a given when you're getting all this other value
• What do core system modernization, being cloud-enabled and digital mean?
• The industry is getting better at using data, but how could we use data across industries, like manufacturing data in workers compensation and workplace safety; thinking about smart city or device technology and property insurance?
• It's about knowing your customer at a deeper level to build a differentiated relationship, not just so you can sell them something else

This episode was made possible through the support of Five Sigma (fivesigmalabs.com).

Follow the podcast at future-of-insurance.com/podcast for more details and other episodes.

Music courtesy of UPbeat Music, available to stream on Spotify, Apple Music, Amazon Music and Google Play. Just search for "UPbeat Music"