SANTA CLARA, Calif. & DALLAS--(BUSINESS WIRE)--CLARA Analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology for commercial insurance claims optimization, and ClaimDeck, the industry’s leading SaaS-based, process-driven litigation management platform, today announced they have formed a strategic partnership to help carriers manage their litigation rates and drive better legal outcomes. Both CLARA and ClaimDeck insurance claims solutions are innovative technology platforms that use claims data to optimize the litigated claims outcome and mitigate rising litigation costs.
CLARA’s AI-driven tools and resources for insurance companies, MGAs and self-insurers include analytic solutions to assess casualty claims, predict and prevent litigation, and identify best-in-class defense attorneys to optimize legal defense strategy. ClaimDeck provides a platform for insurers and defense attorneys to collaborate and a workflow engine to ensure best practices are followed. ClaimDeck captures over 500 categories of data that further contribute to the AI effort and achieve a double-digit percentage reduction in legal and indemnity spend and average case life through process optimization.
“As insurers look for new ways to elevate their casualty claims litigation management, CLARA’s innovative AI-driven solutions deliver value by helping reduce costs, speed decision-making, and improve case settlement,” said Dwayne Hermes, CEO, ClaimDeck. “Our collaboration with CLARA offers unmatched litigation management tools that can have measurable impact on claim outcomes and save users millions in excess legal expenses.”
Carriers, MGAs, reinsurers and self-insured organizations will be able to leverage ClaimDeck’s workflow and collaboration capabilities along with CLARA’s AI-driven claims guidance to enhance decision-making across their casualty claim portfolio, including assigning appropriate attorneys, analyzing legal demands, and providing settlement guidance to drive speed to resolution and cost savings.
“There’s no question that speed and accuracy in claims management have become critical for insurers to compete in this litigious environment where juries are delivering nuclear verdicts,” said Heather H. Wilson, CEO, CLARA Analytics. “The seamless integration of our tools with ClaimDeck will facilitate improved decision-making, lower legal expenses, and measurable improvements in casualty claims litigation outcomes.”
About CLARA Analytics
CLARA Analytics is the leading AI as a service (AIaaS) provider that improves casualty claims outcomes for insurance carriers, MGAs, reinsurers and self-insured organizations. The company’s claims intelligence platform applies image recognition, natural language processing, and other AI-based techniques to unlock insights from medical notes, legal demand packages, bills and other documents surrounding a claim. CLARA’s predictive insight gives claim professionals augmented intelligence that helps them reduce claim costs and optimize outcomes for the carrier, customer and claimant. CLARA’s customers include companies from the top 25 global insurance carriers to large third-party administrators and self-insured organizations. Founded in 2017, CLARA Analytics is headquartered in California’s Silicon Valley. For more information, visit www.claraanalytics.com, and follow the company on LinkedIn and Twitter.
About ClaimDeck
ClaimDeck’s approach is modernizing the litigated claims process by enabling more efficient and transparent communication between the attorney and claims professional, allowing for real-time, self-help access to information, as well as providing compliance monitoring and auditing capabilities. ClaimDeck’s secure, user-friendly platform tackles the inefficiencies in the claims litigation processes by bringing transparency, control, uniformity and data analytics, thereby enabling continuous process improvement to reduce indemnity, legal spend, and claim life. For more information, visit www.claim-deck.com, and follow the company on LinkedIn.
All brand names and solution names are trademarks or registered trademarks of their respective companies.
Tags: CLARA Analytics, ClaimDeck, commercial insurance, litigation, social inflation, nuclear verdict, general liability, property and casualty, workers comp, workers compensation, SaaS, managing general agents, claims adjusters, insurance, artificial intelligence, AI, insurtech, insuretech, claims, claims management, claims optimization, predictive analytics
