(Image source: Clear Claims landing page.)
Clearcover (Chicago), a startup digital auto insurer, has announced Clear Claims, which represents an advance on the company’s digital claims process by offering drivers instant auto insurance claims processing and payment issuance for eligible claims which it says is faster than any other carrier. With the Clearcover app, once a claim is submitted, Clearcover says it automates coverage validation and determines eligibility instantly using a new machine learning model. Relying on a partnership with Snapsheet (Chicago), this digital-first approach will make it possible for customers to have payment issued on eligible claims in as little as 13 minutes of submission, according to Clearcover.
While many carriers average five to seven days to process claims, with the introduction of Clear Claims, Clearcover asserts is the first insurer with the ability to process an auto claim instantly using machine learning. By using its proprietary artificial intelligence technology, ClearAI, Clear Claims ingests policy history along with First Notice of Loss information, while optimizing for the reduction of claim fraud.
Clear Claims integrates with the Snapsheet Claims platform to support end-to-end claims management. For eligible claims, this process replaces manual claim reviews, which typically require asking drivers to submit police report information and speak with claims adjusters, which can slow down the process. Once ClearAI has validated a claim and assessed risk of fraud, Snapsheet considers the Clearcover fraud score and triggers an automated, rule-based process to initiate payment of a claim, which further supports the digital claims experience.
Better Insurance Experience
“People expect filing a car insurance claim to be a painful and drawn-out process, but at Clearcover we are committed to creating better insurance experiences, most importantly when you need to file a claim,” comments Kyle Nakatsuji, Co-Founder and CEO, Clearcover. “Clear Claims is the first of many enhancements we are building into our claims experience that will change the way people think about filing a claim. Our integration of machine learning lowers operating costs and enables us to offer our customers lower prices. It really is a win-win.”