CLARA Analytics, a provider of artificial technology (AI) for casualty insurance claims optimisation, has launched an AI platform for general liability claims.
CLARA describes itself as an AI as a service (AIaaS) provider that aims to improve casualty claims outcomes for commercial insurance carriers and self-insurance organisations.
The company’s product suite applies image recognition, natural language processing and other AI-based techniques to unlock insights from medical notes, bills and other documents involved with a claim.
CLARA said that the addition of general liability completes its casualty lines risk and exposure platform.
The newly launched AI platform is tailored specifically for general liability claims. It uses machine learning algorithms to identify variables that correlate with litigation, medical escalation and other outcomes that drive higher costs.
CLARA was recently recognised as an InsurTech100 company, a prestigious list of the most innovative companies in the industry. CLARA has helped insurance carriers achieve ROI of 500% or more while optimising outcomes for injured parties and policyholders. The company is currently focussing on workers’ compensation, commercial auto and general liability insurance.
Heather H. Wilson, company CEO, said, “CLARA’s augmented intelligence consistently delivers outstanding return on investment for insurers and self-insured organizations in the commercial auto liability and workers’ compensation lines.
“We’re excited to solve claims challenges and elevate best practices for general liability carriers, including managing general agents and managing general underwriters, third-party administrators, reinsurers, and self-insured organisations.”
Earlier this year, The American Equity Underwriters (AEU), a provider of workers’ compensation insurance for waterfront employees, selected CLARA Analytics to leverage technology for better results. According to AEU, the new initiative will use advanced technology to help adjusters achieve better results, more efficiently, for the employers who partner with the insurer.
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