CLARA analytics Launches ‘CLARA litigation’ at RIMS 2018
World News: 14:15 GMT Monday 16th April 2018. [CLARA analytics via Businesswire via SPi World News]
CLARA analytics (“CLARA”), a leading artificial intelligence (AI) and data science company that specializes in easy-to-use AI-based solutions for the Property & Casualty and Disability insurance industries, today launched CLARA litigation, a powerful new product that leverages AI to help claims operators minimize the impact of litigation. CLARA litigation debuts at the RIMS 2018 Annual Conference and Exhibition, being held April 15–18, 2018, in San Antonio.
“The workers’ compensation system was designed to reduce litigation, and yet 100 years after its creation, litigation remains one of the biggest cost drivers in claims,” said Gregory Moore, chief commercial officer of CLARA analytics. “CLARA litigation addresses this pain point by strategically applying AI to empower claims teams. For the first time, claims teams can implement a three-part strategy across the life of a claim to avoid and reduce the overall cost of litigation in ways that were not possible prior to AI.”
CLARA litigation supports three key factors. These factors are aimed at reducing the number of injured workers who seek attorneys in the first place as well as to improve outcomes if attorneys become involved. Specifically, CLARA litigation:
- Identifies claims with the greatest risk of attracting an attorney weeks before lawyers are retained. This enables claims teams to focus targeted interventions on changing the course of the injured worker, potentially heading off litigation.
- Uses outcomes-based attorney scoring powered by machine learning algorithms to identify the best attorneys for the case when litigation is unavoidable. By engaging the right lawyer, claims teams can dramatically reduce associated costs and resolve issues faster.
- Leverages AI-driven intelligence to provide insight on optimized settlements for specific cases. This information proves invaluable when determining whether to settle or fight a pending lawsuit.
CLARA points to a recently completed white paper from Strategy Meets Action (SMA) in which SMA detailed the overall increase in complexity of claims when attorneys are involved. The SMA white paper, AI Is Changing the Game in Workers’ Comp, further validates the need to determine which claims are at risk before injured workers hire legal representation. SMA also found that senior claims executives are aware of problems that arise once lawyers are engaged, but the ability to analyze claims and make smart determinations has been out of their grasp. CLARA litigation changes this by providing actionable insights at exactly the right time.
CLARA litigation is a secure, cloud-based solution available on a monthly subscription basis.
Attendees of the RIMS Annual Conference and Exhibition can see a demo of the new CLARA litigation platform at the CLARA booth, #961, in the Marketplace at the Henry B. Gonzalez Convention Center.
About CLARA analytics
CLARA analytics empowers workers’ compensation claims teams to rapidly get injured workers back on track with easy-to-use artificial intelligence (AI)-based products. Its CLARA providers search engine is an award-winning provider scoring engine that helps rapidly connect injured workers to the right providers, while CLARA claims is an early warning system that helps frontline claims teams efficiently manage claims, reduce escalations and understand the drivers of complexity. CLARA litigation, the newest addition to CLARA’s product suite, uses the power of AI/ML to minimize the impact of litigation. CLARA’s customers include a broad spectrum — from the top 25 insurance carriers to small, self-insured organizations. For more information, visit https://claraanalytics.com/, and follow CLARA analytics on LinkedIn, Facebook and Twitter.
CLARA litigation, CLARA providers and CLARA claims are trademarks of CLARA analytics. All other brand names and solution names are trademarks or registered trademarks of their respective companies.
Tags: CLARA analytics, CLARA litigation, workers compensation, workers comp, artificial intelligence, AI, machine learning, healthcare, insurance, predictive analytics, data science, litigation
View source version on businesswire.com: https://www.businesswire.com/news/home/20180416005320/en/
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Business Wire: 14:15 GMT Monday 16th April 2018
Published: 2018-04-16T14:15:00.
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