Santa Clara, CA – CLARA analytics recently announced that it has spun off from its parent, LeanTaaS, to operate as an independent company. CLARA analytics uses artificial intelligence (AI) and machine learning to help workers’ compensation claims teams get out in front of their claims with easy-to-use signals related to patient risk and provider quality.
“The intention has always been to spin off CLARA analytics when the time was right. We’ve reached that point now with strong product traction and a great leadership team,” said Jayant Lakshmikanthan, CEO of CLARA analytics. “This is supported by the high-level trend where the workers’ comp industry is focusing hard on improving the injured workers’ experience using a combination of cutting-edge technology and strong processes.”
CLARA provides an integrated AI/predictive modeling solution that focuses on identifying risk factors in claimants and on finding the best-performing doctors for those claimants. All solutions are delivered through a secure, HIPAA-compliant, SaaS solution that can be easily integrated with claims and network systems. CLARA’s early customers have seen significant reductions in average claims costs using AI signals to manage claims more strategically and to ensure injured workers are getting the best care.
Since introducing its products to the market last year, CLARA analytics has added several new customers each quarter and has grown by 50 percent quarter-over-quarter with customers ranging from top 25 carriers to self-insured companies. Recently, CLARA announced a key partnership with Aon Benfield to deliver cutting-edge AI tools to workers’ compensation insurers in the U.S., helping employees return to work as quickly as possible while decreasing loss ratios and improving operational efficiency.
The stand-alone company will be helmed by Lakshmikanthan, who is joined by Dr. Laura B. Gardner as chief scientist and VP of products, Gregory Moore as chief commercial officer and Leo Nacelli as chief architect. The CLARA analytics team also will move into a new office space as it continues to expand in order to accommodate future growth.
“This is a fantastic time for workers’ compensation as the industry looks to places like Silicon Valley to bring innovation to the field,” said Moore. “CLARA’s growth into a stand-alone company has enabled us to dedicate team efforts toward solving problems that are costing claims organizations millions of dollars each day. The results are game-changing. We are empowering claims teams with rich, detailed and relevant insights that are easy to access and act upon so that employees, companies and payers all win.”
Source: CLARA analytics