(Image source: RAS homepage.)
CLARA Analytics (Santa Clara, Calif.), a provider of AI-powered technology for insurance claims optimization, today announced that Risk Administration Services, Inc. (Sioux Falls, S.D.) will use its technology to enhance its claims processes. To achieve this objective, RAS will adopt CLARA’s full product suite, including Claims DocIntel Pro, Triage, Treatment, Fraud, and Litigation, according to a CLARA statement.
Jennifer Hertzfeld, SVP, Claims, RAS.
As an expert in workers’ compensation insurance and loss mitigation management, RAS manages The Dakota Group (“DG”), the largest voluntary writer of workers’ compensation in South Dakota and one of the largest in the Upper Midwest. DG is “A” rated by AM Best and has been named to the Ward’s 50 companies for the last four consecutive years, showcasing its commitment to best practices and consistent high performance.
“Our performance year in and year out is among the best in the industry, but to maintain our standards, we persistently look forward. For us, this means implementing AI strategically across the claims life cycle,” comments Jennifer Hertzfeld, SVP, Claims, RAS. “With CLARA, we can empower our adjusters with amazing insights so that they may repurpose their time on tasks that make the greatest impact.”
RAS says that it will achieve its objectives with the full suite of CLARA’s AI platform, CLARAty.ai, described below by the vendor:
Claims DocIntel Pro: Empowers teams by identifying, indexing, transcribing and summarizing claims documents. It also allows claims professionals to instantly review medical records and legal demands with important data highlighted and summarized.
Triage: Helps teams focus on the right claims and prompts them to take specific actions. Using AI, Triage makes it easy for adjusters to proactively manage claims that need attention while streamlining others that likely won’t require additional intervention.
Treatment: Assists teams in finding the best doctor for every claim. CLARA’s AI factors in provider performance scoring and utilizes predictive modeling based on thousands of closed claims to ensure workers make a complete recovery.
Heather H. Wilson, CEO, CLARA Analytics.
Fraud: Alerts claims professionals to suspicious activity by examining the relationships between medical providers, legal counsel, and claimants across millions of workers’ compensation claims so that they can take appropriate action.
Litigation: Minimizes litigation risks based on years of prior claims. CLARA’s AI identifies and analyzes tightly defined claim cohorts to yield insights about the future direction of a claim as well as settlement data so that the best legal teams can be engaged if needed to reduce costs dramatically.
“RAS has a strong track record of exceptional performance in the workers’ compensation line of business, and its team knows AI will give them an even greater performance boost,” comments CLARA CEO Heather H. Wilson. “In fact, RAS is the first to deploy CLARA Fraud, underscoring the company’s commitment to implement cutting-edge technology. Generative AI and predictive modeling on one platform can transform claims processes, and we are thrilled to enable another leading organization to discover its capabilities through CLARAty.ai.”
CLARA Analytics’ Claims DocIntel Pro Boosts Actionable Document Intelligence