CLARA analytics, which deploys AI-powered solutions to the commercial insurance space, has boosted its relationship with QBE Insurance.
QBE has increased the adoption of CLARA’s products across its Australian statutory claims, including workers compensations and CTP businesses. With the additional tools, QBE is hoping to improve care and claimant results across Australia.
The companies began their partnership last year to support its workers’ compensation claim. CLARA provided its early warning system to aid the management of claims and following this success it is integrating the litigation service which lowers the costs of litigation.
Australia-based QBE is a general insurance and reinsurance company which operates across over 36 countries.
CLARA analytics founder and CEO Jayant Lakshmikanthan said, “AI is really about being compassionate at scale. If we lived in an ideal world, we would love to be beside each injured worker supporting them through their recovery. Unfortunately, this doesn’t scale beyond a certain point. AI is able to deliver this compassionate service to thousands of claimants to raise the standard for all commercial insurance claims.”
Californian InsurTech company CLARA builds AI solutions which help insurance firms to reduce claim handling costs by keeping them on track throughout their lifecycle. Its solutions, which can integrate with any existing workflow or infrastructure, help to identify the best doctor for each claim, and mitigate claim costs by detecting those at highest risk of litigation or delays.
The platform can also be used to generate AI insights to identify litigation risk, find attorneys and resolve claims.
Copyright © 2018 FinTech Global
