(Image source: CLARA Analytics.)
CLARA Analytics (Santa Clara, Calif.), a provider of artificial intelligence technology for casualty insurance claims optimization, has debuted its claims AI platform for general liability claims. The addition of general liability completes CLARA’s casualty lines risk and exposure platform. The software continuously monitors incoming claims data, providing actionable insights that alert adjusters to potentially high-risk claims, according to the vendor. The technology is designed to aid professionals in optimizing claims outcomes and resolving cases rapidly.
“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,” comments Heather H. Wilson, CEO, CLARA Analytics. “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 organizations.”
CLARA reports that its casualty lines AI platform ingests both structured and unstructured claims data, using natural language processing to extract detailed information from claims reports, medical records, and legal correspondence. Tailored specifically for general liability claims, the platform uses machine learning algorithms to identify variables that correlate with litigation, medical escalation, and other outcomes that drive higher costs, the vendor says.
CLARA says it is leveraging its proven models and applying key learnings to its entire range of products to serve the general liability line of business:
CLARA Optics reduces document review time with automated medical records and legal demands transcription, extraction and organization to highlight important claim details.
CLARA Triage helps claims managers to focus on high-risk claims to determine the optimal path to resolving them while fast-tracking low severity claims.
CLARA Litigation offers insights on attorney performance and settlement guidance to help payers reach amicable settlements and avoid costly litigation.