Berkshire Hathaway Homestate Companies has selected CLARA analytics, an AI solution developer for the insurance space, to improve its compensation claims operations.
In line with the deal, Berkshire Hathaway will implement CLARA’s products including its providers, litigation and claims services. Berkshire is a group of six insurance carriers based across the US and offer a variety of coverage.
CLARA uses AI and machine learning to generate insights which help commercial insurance organizations improve their efficiency and make data-decisions. Its tools can integrate with existing infrastructure.
Its providers service will help identify the best doctor for each claim, while its claims solution helps lower costs by identifying the claims at risk for litigation or delays. Finally, its litigation tool uses AI to detect litigation risk and find the best attorney and resolve the claim quickly.
CLARA analytics CEO Gary Hagmueller said, “CLARA will help BHHC further differentiate itself by facilitating and informing the claims process in incredible new ways. Our platform will deliver powerful insights to claims representatives, turning them into instant experts who can handle each claim with precision, respect and empathy at scale.”
The company released an AI-powered risk management tool last year to help insurer evaluate claims. By leveraging machine learning and natural language processing capabilities, the tool analyses structured and unstructured data to enhance decision making.
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