Articles from CLARA Analytics

A groundbreaking CLARA Analytics study on fraud detection in property and casualty insurance claims has revealed that advanced analytical methods can accurately identify potential fraud indicators just two weeks after a claim is filed, significantly earlier than traditional approaches.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today announced game-changing subrogation detection capabilities that promise to help insurers identify millions in previously missed recovery opportunities. The enhancements to CLARA’s flagship CLARA Triage product automatically identify potential subrogation and risk transfer opportunities, providing narrative assessments and numeric scores that help claims adjusters to focus on cases that offer the greatest potential.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today announced that the successful launch of the Guidewire and CLARA integration has yielded exceptional results for insurers. This partnership demonstrates the significant value of AI in transforming claims processing workflows and improving outcomes across the insurance industry.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today announced it has hired Eugene Wong as Chief Financial Officer (CFO). Mr. Wong brings over 15 years of finance and operating experience to his new role. He will work closely with CLARA CEO Heather H. Wilson to chart the financial and strategic course of the company amid impressive growth.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today announced that Merchants Insurance Group has adopted Claims DocIntel Pro and CLARA Triage within its auto liability line of business. These products will be deployed next year for workers’ compensation and general liability as well. The decision to incorporate CLARA’s AI-based offerings comes as insurance companies face a range of unprecedented challenges accompanied by intense pressure to protect and compensate affected individuals. To successfully handle a significant increase in high-severity claims, Merchants is now leveraging CLARA’s technology to provide its team with key insights that can more accurately determine claim costs and boost operational efficiency, effectively accelerating claim processing.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today announced that it will play a significant role in two of the leading trade shows for insurtech, ITC Vegas and National Comp, being held Oct. 15-17 at Mandalay Bay in Las Vegas. CLARA will highlight how its powerful generative AI solutions drive efficiencies and reduce cost for carriers, MGA/MGUs, and self-insured organizations.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (“AI”) technology for insurance claims optimization, today announced that Risk Administration Services, Inc. (“RAS”) will leverage its technology to enhance its claims processes. To achieve this objective, RAS will adopt CLARA’s full product suite, including Claims DocIntel Pro, Triage, Treatment, Fraud, and Litigation.

Specialty property and casualty insurance carrier IAT Insurance Group has selected CLARA Analytics Claims Document Intelligence Pro (Claims DocIntel Pro) as its newest AI platform to support its auto and general liability claims process. Claims DocIntel Pro will be leveraged to help streamline processes, reduce costs, and eliminate errors across the IAT Insurance Group claims operations.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today announced two pivotal executive hires. Robin Spaulding, CPCU, AIC, has joined CLARA as Chief Insurance Officer, and Greg Toll has been named CLARA’s Vice President of Sales for Self-Insured. Together, they add decades of leadership experience to CLARA.

Today, CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, launched Claims Document Intelligence Pro, a major milestone in the evolution of its transformative insurance claims AI platform. The introduction of Claims DocIntel Pro (formerly CLARA Optics) marks groundbreaking advances with its deeper contextual analysis of legal demands and medical records. CLARA’s cutting-edge innovation combines best-in-class GenAI with proprietary AI tools that identify salient details, assess the risk of escalation, and offer actionable recommendations to claims managers.

Eastern Alliance Insurance Group (“Eastern Alliance”), a wholly-owned subsidiary of ProAssurance Corporation, has selected the CLARAty.ai platform developed by CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, to enhance medical outcomes for injured workers, improve reserve accuracy, and lighten administrative burdens for claims professionals.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today announced the launch of a groundbreaking new fraud detection product that leverages the company’s AI platform and large workers’ compensation datasets to increase visibility into suspicious claims.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today announced two new senior level hires, adding Wayne Chung as the company’s new Chief Technology Officer and insurance industry veteran Mark Tainton, who will serve as CLARA’s Chief Customer Officer.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today announced the company is expanding its relationship with Origami Risk (“Origami”), the industry-leading risk, safety and insurance software as a service (SaaS) technology firm. The two companies have deepened the integration between their products and aligned their operations to offer a seamless solution to help self-insurers, brokers and carriers reduce costs and accelerate AI adoption.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today announced it has been selected by one of the world’s largest personal auto insurance companies as the foundation for their AI-enabled claims management initiatives. CLARA helps carriers to make sense of voluminous information, streamline claims management, improve medical outcomes, and reduce administrative burdens for adjusters.

The Black Car Fund, a New York not-for-profit organization created by New York state to protect New York’s for-hire drivers with workers’ compensation insurance coverage, has chosen CLARA Optics and CLARA Triage, AI-driven technology on the CLARAty.ai platform developed by CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, to help them improve medical outcomes for injured drivers, improve reserve accuracy, and lighten administrative burdens for adjusters.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today announced it has appointed Jeremy Johnson, former CEO of Protective Insurance, to its board of directors. Johnson will further bolster the company’s deep bench of industry veterans, solidifying CLARA’s position as the leading innovator in AI technology for commercial claims management.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today announced that they have achieved 100% year-over-year growth in annual recurring revenue (ARR), further solidifying their position as the top innovator in AI claims management technology for workers’ compensation, auto liability, and general liability carriers.

Maine Employers’ Mutual Insurance Company (MEMIC), workers’ compensation insurance specialists, has chosen CLARA Optics, an AI-driven technology platform developed by CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, to help them improve medical outcomes for injured workers, increase claims management efficiencies, and lighten administrative burdens for adjusters and nurse case managers (NCMs).

CLARA Analytics and Nationwide are deepening their current partnership. CLARA has received an investment from Nationwide Ventures, the investment arm of the insurance and financial services company. Nationwide’s investment comes from its $350 million investment fund. CLARA has raised a total of $64 million, including its recently announced Series C.

CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology for commercial insurance claims optimization, and ClaimDeck, the industry’s leading SaaS-based, process-driven litigation management platform, today announced they have formed a strategic partnership to help carriers manage their litigation rates and drive better legal outcomes. Both CLARA and ClaimDeck insurance claims solutions are innovative technology platforms that use claims data to optimize the litigated claims outcome and mitigate rising litigation costs.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today unveiled its CLARAty.ai platform, which advances the insurance claims process and assists claims professionals with their day-to-day work. Applying a holistic approach to claims, CLARA’s new platform empowers users with insights from across their traditional core systems to provide the information they need, when they need it, to resolve claims with unprecedented operational efficiency and for lower costs. The first-of-its-kind CLARAty.ai platform debuts on the heels of CLARA’s recent Series C funding announcement, as the company continues to innovate and expand to meet customers’ needs. CLARA will showcase select CLARAty.ai elements at ITC Vegas 2023 through Nov. 2.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, announces extended capabilities that empower insurance carriers to extract critical information from legal demand documents. CLARA Optics automates the transcription of medical records and legal correspondence, then highlights important details about each claim using industry-focused AI technology. The resulting insights enable insurers to identify and prioritize high-risk legal demand packages. Further, with a human-in-the-loop user interface, claims professionals can extract and summarize the medical data and distribute to downstream systems.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, today announced its $24 million Series C funding, bringing its total funding to $60 million. This round was led by new investor Spring Lake Equity Partners, with participation from existing investors including Aspen Capital Group, Oak HC/FT and QBE Ventures.

Amazon (NASDAQ: AMZN) has selected CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology in the commercial insurance industry, as its technology partner for a new program aimed at improving health and claim outcomes for their corporate workers’ compensation claims.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for personal injury claims optimization, announces an exclusive partnership with OPEX Consultants (“OPEX”), an Australian boutique growth strategy and profit improvement insurance consulting practice, to represent CLARA in Australia and New Zealand. The partnership constitutes a strategic commitment to expand CLARA’s business in the Asia-Pacific region.

After a competitive selection process, Foresight Commercial Insurance (“Foresight”), an innovative managing general underwriter (MGU) of workers’ compensation insurance, has named CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for insurance claims optimization, as their partner in a new initiative that will use advanced technology to proactively collaborate with their third-party administrators (TPAs) and stay ahead of claim escalation with real-time monitoring of claims data.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for casualty insurance claims optimization, today announced its award-winning claims AI platform for general liability claims. The addition of general liability completes CLARA’s casualty lines risk and exposure platform. CLARA continuously monitors incoming claims data, providing actionable insights that alert adjusters to potentially high-risk claims. The technology aids experienced professionals in optimizing claims outcomes and resolving cases rapidly.

CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for commercial insurance claims optimization, today announced it will showcase the company’s latest innovations at the upcoming Insurance Innovators USA conference, being held April 17-18, 2023, at Music City Center in Nashville, Tennessee. CLARA will demonstrate how their technology helps carriers achieve remarkable ROI while dramatically improving medical outcomes for injured workers.

The American Equity Underwriters, Inc. (AEU), an Amwins Group company, the leading provider of workers’ compensation insurance for waterfront employers, has selected CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for commercial insurance claims optimization, as their partner in a new initiative that will use advanced technology to help adjusters achieve better results, more efficiently, for the employers who partner with AEU.

Western National Insurance today announced they have selected CLARA Optics, an AI-driven technology platform developed by CLARA Analytics (“CLARA”), to help improve medical outcomes for injured workers, increase efficiencies in workers’ compensation claims management, and ease administrative burdens on adjusters and nurse case managers (NCMs).

Canal Insurance Company (“Canal”) has selected CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for commercial insurance claims optimization, as its partner in a new initiative aimed at speeding the resolution of commercial transportation claims using AI.

AF Group, a nationally recognized holding company whose affiliated brands provide specialty and workers’ compensation insurance solutions across the United States, and CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology for commercial insurance claims optimization, today announced a new initiative to deploy AI technology to improve medical outcomes for injured workers, while also reducing claims losses for the company’s workers’ compensation policyholders and streamlining claims management. AF Group companies will use CLARA’s industry-leading technology platform to identify the health care providers best suited to help injured employees recover successfully and return to work quickly.

AmTrust Financial Services (AmTrust), a major global specialty property and casualty insurer and third largest workers’ compensation carrier in the nation, and CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology for commercial insurance claims optimization, announced their partnership to utilize data and analytics to improve the quality of care provided to injured employees. The joint initiative between AmTrust and CLARA will lead to better medical outcomes for injured employees by matching injured employees with high-quality health care providers to help them recover more timely and effectively. When an injured employee receives high-quality care, everyone benefits — the employee, the business and the industry.

CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology in the commercial insurance industry, today announced that it has made two new strategic hires, adding Ram Rangaraj as the company’s new Chief Technology Officer and enlisting Mubbin Rabbani as the new Vice President of Product.

CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology in the commercial insurance industry, today announced the release of CLARA Optics, which uses AI and machine learning to scan, sort and analyze bills and medical documents to create a claim-based medical record. CLARA Optics not only lowers claims operating expenses but also drives better medical outcomes for commercial claims with deep insights and alerts. CLARA Optics is the latest generation of CLARA’s medical record product, formerly called Treatment Summary. Optics automates medical records transcription, extracts and organizes important details about each claim, and makes that information available to adjusters and nurse case managers (NCMs). This enhanced version adds intelligent alerts and analytics to better equip claims personnel to respond proactively to changes in each case.

CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology in the commercial insurance industry, today announced that it has selected Gabe Cossio as the new Vice President of Sales. Cossio will play a lead role in executing CLARA’s aggressive growth strategy as the organization scales up to meet mounting demand.

CLARA Analytics (“CLARA”) has announced it will partner with Nationwide to provide the leading artificial intelligence (AI) technology in the commercial insurance industry for a new program aimed at improving workers’ compensation claims operations using AI.

As commercial auto losses continue to climb, CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology in the commercial insurance industry, releases its latest Litigation for Commercial Auto, empowering insurers to evaluate litigation risk, identify the best attorneys for each claim, resolve claims quickly, and control escalating costs. Powered with advanced AI technology, insurers now have a path to control the rapidly increasing costs by optimizing claims management and avoid litigation. CLARA uses natural language processing to perform contextual analysis, incorporating structured, semi-structured and unstructured data into its AI analysis.

CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology in the commercial insurance industry, today announced that it has hired Tyler Jones to be its Chief Customer and Marketing Officer. Jones will be responsible for directing the company’s complete relationship with its customers and driving efforts to assess and elevate experiences at each touchpoint across the customer journey, ensuring that commercial insurers are achieving optimal value from CLARA’s AI platform.

CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology in the commercial insurance industry, today released Treatment Summary, which applies industry-leading AI technology to automate medical records transcription, extract and organize important case details, and make that information available to adjusters and nurse case managers (NCMs) on demand.

CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology in the commercial insurance industry, today announced the appointment of Rick Rosenthal as Chief Financial Officer. Reporting to CLARA CEO, Heather H. Wilson, Rick will oversee the company’s finance and accounting organizations, including its corporate development and investor relations functions.

CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI)-driven workers’ compensation claims management tools, today announced the release of MSP Compliance 2.0, a major upgrade to the company’s AI-driven offering that enables workers’ compensation carriers to generate CMS-approvable reports in just days instead of the usual four to six weeks. With CLARA’s solution, carriers can increase flexibility, agility and accuracy while eliminating their dependency on costly third-party service providers.

CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI)-driven workers’ compensation claims management tools, today announced a partnership with Unqork, the leading enterprise no-code platform, to bring CLARA’s predictive AI analytics to enterprise risk managers and insurance carriers through risk management software built on Unqork’s no-code platform. This powerful combination will allow risk professionals to analyze and uncover key drivers of claim complexity and enable them to proactively undertake loss prevention and other mitigation initiatives to minimize their claims exposure, whether their claims are administered internally, by a third party, or directly by an insurance carrier.

CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology in the commercial insurance industry, today announced that it has hired Tom Warden as Chief Insurance and Science Officer. An experienced leader in using data, analytics and AI to solve complex business problems, Warden will apply his skills to oversee CLARA’s scientific, technological and research operations; he will help ensure that CLARA continues to bring innovative products to market that address the greatest needs of the insurance industry. Warden will report to newly appointed CLARA CEO Heather H. Wilson.

CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology in the commercial insurance industry, today announced that Heather H. Wilson has been named as Chief Executive Officer. The CLARA Board of Directors selected Wilson based on her long track record of outstanding leadership in insurance and various global industries, including more than a decade of executive experience in data, analytics and artificial intelligence specifically. Wilson’s in-depth knowledge of CLARA’s space in combination with her exceptional professional relationships and strong business acumen will be key to CLARA’s ongoing success and future growth.