The Black Car Fund Selects CLARA Analytics for Claims AI

Using GenAI and LLM, CLARA’s solutions will help the organization improve medical outcomes for injured drivers, improve reserve accuracy, and lighten administrative burdens for adjusters.

(Image source: The Black Car Fund homepage.)

The Black Car Fund (Long Island City, N.Y.), a New York not-for-profit organization created by New York state to protect New York’s for-hire drivers with workers’ compensation insurance coverage, has chosen CLARA Optics and CLARA Triage, AI-driven technology on the CLARAty.ai platform developed by CLARA Analytics (Sunnyvale, Calif.), a provider of artificial intelligence (AI) technology for insurance claims optimization, to help the organization improve medical outcomes for injured drivers, improve reserve accuracy, and lighten administrative burdens for adjusters, according to a CLARA statement.

Eric Hornick, Chief Claims Officer and Actuary, The Black Car Fund.

CLARA Optics uses predictive AI, generative AI (GenAI), and large language models (LLMs) to automate medical records transcription, extract meaningful details, and deliver actionable insights to claims management personnel, according to the vendor statement. By ingesting and analyzing new information as soon as it is available, the technology helps claims managers to stay abreast of changes, summarizing case status and highlighting salient information.

CLARA Triage is designed to help adjusters to promptly identify high-risk casualty claims and flag them for proactive resolution. CLARA reports that the AI platform is trained on a contributory database of millions of closed claims to provide a high level of predictive accuracy and broad benchmarking capabilities. The generated insights enable the assignment of the right claim to the right adjuster at first notice of loss. Adjusters are given decision support and guidance when setting reserves, leading to more accurate reserving. Claimants get the level of service they need for the severity of the injury, and The Black Car Funds’ claim professionals can focus on the claims that matter most, CLARA says. Overall, the vendor says, this approach leads to optimal medical outcomes for injured parties, gets workers back on the job quickly, and reduces claim costs.

Improved Reserve Accuracy and Greater Claims Efficiency

“CLARA’s AI platform will improve reserve accuracy and create greater efficiencies across our claims operation,” comments Eric Hornick, Chief Claims Officer and Actuary, The Black Car Fund. “Each of our adjusters must manage a workload of up to 300 claims at any given time. CLARA’s technology will reduce that burden, freeing them up to deliver highly personalized, empathetic service to injured drivers.”

Workers’ compensation claims can sometimes involve hundreds of pages of medical records and other legal documents, often spanning months or even years. To address this challenge, CLARA says its AI platform assists claims managers by offering up-to-the-minute case summaries derived from both structured and unstructured contributory data. This leads to faster case resolution, lower workloads, and better outcomes for injured workers and their employers.

CLARA reports that its AI platform is capable of analyzing both structured and unstructured data, performing contextual analysis using natural language processing (NLP) and LLMs tuned specifically for insurance claims. The generated insights help claims managers make sound data-driven decisions, according to the vendor, who asserts that its customers consistently achieve remarkable ROI, with most exceeding 500 percent.

Heather H. Wilson, CEO, CLARA Analytics.

Heightened Data Security

CLARA says its generative technology differentiates itself from many popular GenAI tools because it isolates insurance carriers’ data for both model training and operational purposes, so data remains confidential and fully secure. Also, CLARA Optics has been designed to deliver high levels of accuracy, basing its conclusions on confirmed internal data sources and performing redundancy checks to ensure that the information it provides to claims managers is unassailably accurate, the vendor says.

“The Black Car Fund provides a vitally important service to tens of thousands of for-hire vehicle drivers throughout New York,” said Heather H. Wilson, CEO, CLARA Analytics. “We are excited to support The Black Car Fund’s efforts to provide the highest level of service for injured drivers, eliminate administrative work for busy adjusters, and drive better claim outcomes for all parties. We’re pleased that they have chosen CLARAty.ai as their claims intelligence platform.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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