CLARA Analytics
Assisting the Commercial Insurance Industry with AI-Driven Applications

The emergence of AI/ML has played a pivotal role in the insurance sector owing to its robustness, effectiveness, and reliability. AI deployed services such as virtual insurance agents and AI chatbots help to streamline claim inquiries while ML-powered, voice-controlled virtual agents can analyze customer needs and render solutions in real-time.

Both of these solutions are however built atop an underlying data analytics framework that generates the right information to help the technology relate to living human needs. And as the rapid growth of AI/ML and data analytics in the insurance industry collides with the need to minimize operating costs and automate manual processes, a new solution is required to generate greater revenue growth opportunities. Being a major contributor in this area, CLARA Analytics has leveraged advanced AI/ML processing to provide a revolutionary insurance claims management solution that drives outstanding results for insurance business owners and their customers.

CLARA’s applications, dubbed Triage, Treatment, Litigation, MSP Compliance, and Optics, have made a major impact in the financial and insurance market. Designed for the earliest stages of a claim, Triage analyzes a large number of data points to determine and predict the claim’s potential risk and cause(s) of complexity as well as identify who should handle the claim to achieve the best outcome. Treatment on the other hand examines the medical phase of a claim, delivering clear information regarding the best providers to handle an injury; what type of future care might be involved, such as surgery or physical therapy; which specialists have the greatest success with a particular type of injury; and more. CLARA always works to head off attorneys involved early in the life of a claim, however, if this does not happen, and litigation becomes unavoidable, their Litigation solution can be of service. CLARA Litigation applies AI to solve the two biggest issues: finding the right attorney to litigate a claim and determine a fair settlement.

The company’s latest version of CLARA Litigation analyzes even more characteristics associated with both the claimant’s attorney and the claim itself to identify the right lawyer for the carrier to resolve the claim favorably. Finally, CLARA MSP Compliance reduces a Medicare-required process of estimating future medical costs from three to four weeks down to just minutes. CLARAs technology analyzes medical records that are thousands of pages long, pulling out all relevant data and rapidly, accurately calculating cost estimates based on similar cases. Its technology compares dozens of factors that have been proven to influence costs and care. CLARA Optics, the newest solution, uses natural language processing and OCR scanning to capture insights from unstructured data on medical bills and records.

Each of these solutions was developed by the vision and leadership of CLARA’s chief leadership. “With its wide range of solutions, CLARA has successfully managed to establish strong customer partnerships over the years that have driven our product roadmap. Magic happens when customer demand and our innovative team come together.” mentions Tyler Jones, the Chief Customer & Marketing Officer. Jones has been implementing analytics and digital experiences in the insurance sectors for years and is focused upskilling Clara’s marketing and customer success operations. Tom Warden, the Chief Insurance & Science Officer at CLARA, has leveraged his immense experience in basic research functions for data science to manage their data science team. Rick Rosenthal, Chief Financial Officer at CLARA, provides his extensive know-how in spanning investment banking, asset management, and corporate finance with high-end technology and is now managing the financial functionalities at Clara. Gabe Cossio, the Vice President of Sales delivers his in-depth knowledge of the go-to-market strategy execution and customer success in managing the sales activities in Clara. “CLARA offers light IT applications which are user-friendly for our customers. By the end of this year, we are planning to integrate with one of our largest clients’ core systems,” Rick mentions. CLARA has been successful in saving the indemnity and medical expenses of many of its customers over the years which has helped it maintain its strong bond with its existing customers and build new clientele as well.