San Antonio, TX – CLARA analytics, an artificial intelligence (AI) and data science company that specializes in easy-to-use AI-based solutions for the Property & Casualty and Disability insurance industries, recently launched CLARA litigation, a powerful new product that leverages AI to help claims operators minimize the impact of litigation. CLARA litigation debuted at the RIMS 2018 Annual Conference and Exhibition this week 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.
Source: CLARA analytics