Workers’ comp insurance American Equity Underwriters selects CLARA


The American Equity Underwriters (AEU), a provider of workers’ compensation insurance for waterfront employees, has selected CLARA Analytics to leverage technology for better results.

CLARA helps claims managers reach resolution on workers’ compensation cases by validating low-risk claims early in the process and by distinguishing the higher-risk cases that may be causes for concern.

According to AEU, the new initiative that will use advanced technology to help adjusters achieve better results, more efficiently, for the employers who partner with the insurer.

As the program administrator for American Longshore Mutual Association (ALMA), AEU helps waterfront employers (ALMA members) improve safety, reduce risk, and get injured longshore workers the care they need.

The company will implement CLARA’s Optics and Triage modules, which automate the extraction of key information from claims documents and deliver AI-driven insights to monitor medical claims and proactively manage risk.

The Optics module uses natural language processing (NLP) to transcribe and extract information from medical records and legal demands, highlighting relevant details about individual workers’ compensation claims.

CLARA’s Triage module helps adjusters to promptly identify high-risk casualty claims and flag them for proactive resolution. That leads to optimal medical outcomes for injured parties, it gets workers back on the job quickly, and reduces overall claim costs.

Adele Hapworth, CEO of AEU, said, “At AEU, we’re always looking for ways to better serve our members and their injured workers. CLARA’s AI platform is already delivering impressive ROI for workers’ compensation carriers. We see it as a great fit for AEU as well. CLARA’s products will help us improve efficiency and ultimately reduce claims costs for our members. This is a proven path to making AI work for us.”

Earlier this year, Canal Insurance Company partnered with CLARA Analytics, a provider of artificial intelligence (AI) technology for commercial insurance claims optimisation, to improve commercial auto claims outcomes with AI.

Keep up with all the latest FinTech news here.

Copyright © 2023 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.