(Image source: Clara analytics homepage.)
Sapiens Americas (Raleigh, N.C.), a wholly owned subsidiary of Sapiens International Corporation, (Holon, Israel), a global provider of software solutions for the insurance industry, has entered into an agreement to partner with CLARA analytics, a Santa Clara, Calif.-based provider of artificial intelligence (AI)-based products with an emphasize on ease-of-use. The company’s offerings are designed to improve claims outcomes throughout the lifecycle and reduce various sources of loss-costs in claims handling.
CLARA analytics’ predictive analytics tool for workers’ compensation claims will be combined with Sapiens CoreSuite for Workers’ Compensation with the aim of improving customers’ processes and providing access to in-depth analysis for proactive risk mitigation, according to a Sapiens statement. The collaboration between the vendors thus will help facilitate interventions for loss-time injured workers who are most likely to benefit from them and the ability to simulate the costs and benefits of existing early intervention programs, under a predictive modeling framework, according to Sapiens.
Easy Integration into Claims Workflow
“We are excited about the opportunity to work with Sapiens, a leading global organization, and to empower its workers’ compensation claims teams to transform the way workplace injuries are handled, including decisions such as finding the right doctor and prioritizing claims,” comments Gary Hagmueller, president and CEO, CLARA analytics. “Our tools are designed to be easily implemented into an insurer’s existing claims workflow, while reducing costs to provide a significant return on investment.”
“This strategic alliance will meet the current and future needs of Sapiens’ customers in a transparent and efficient way,” comments Roni Al-Dor, president and CEO, Sapiens. “Carriers can discover new claims insights and understand how these discoveries will positively affect the course of a claim, an employee’s role within an organization and the insurer’s bottom line.”