The human identity is constructed upon many valuable elements, and yet none define us better than that tendency of improving on a consistent basis. This tendency to improve, no matter the situation, has got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it should become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to bring forth the right goods. The same has grown increasingly evident over the recent past, and assuming one insurtech development shakes out just like we envision, it will only make that trend bigger and better moving forward.

CLARA Analytics, a leading provider of artificial intelligence (AI) technology for casualty insurance claims optimization, has officially launched a dedicated solution to manage those general liability claims. Understood to be a part of the company’s wider casualty lines risk and exposure platform, the new solution will help insurance professionals in optimizing claims outcomes and resolving cases rapidly. But how does CLARA plans on serving it on a more actionable level? Well, the solution is expected to harness the potential of company’s three already-successful models i.e. CLARA Optics, CLARA Triage, and CLARA Litigation. Starting off with CLARA Optics, it basically works by reducing review time for documents like medical records and legal demands transcription through automation. Next up, CLARA Triage has its utility in aiding claim managers to focus on high-risk claims and determine the optimal path to resolving them, while simultaneously fast-tracking low severity claims. Lastly, we have CLARA Litigation, which offers insights on attorney performance and settlement guidance to enable payers in terms of reaching amicable settlements, and as a result, avoid costly litigation.

“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,” said Heather H. Wilson, CEO of 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.”

Talk about the CLARA’s stated casualty lines risk and exposure platform; it ingests both structured and unstructured claims data, and it does so using natural language processing so to extract detailed information from claims reports, medical records, and legal correspondence. The platform also leverages a set of specialized machine learning algorithms to identify variables that correlate with litigation, medical escalation, and other outcomes known for driving higher costs.

Founded in 2017, CLARA Analytica is today one of the biggest AI as a service (AIaaS) providers in the world. The company’s value proposition talks to applying image recognition, natural language processing, and other AI-based techniques for unlocking meaningful insights from medical notes, bills, and other documents surrounding a claim. The company’s excellence in what it does can be inferred from the fact that it is currently serving customers who hail from the top 25 global insurance carriers, large third-party administrators, and even self-insured organizations.