AI Insurtech CLARA Analytics Expands Presence in Asia-Pacific

Strategic Partnership Helps Insurers Deliver Better Outcomes for Injured Workers

SANTA CLARA, Calif. & SYDNEY–(BUSINESS WIRE)–#AI—CLARA Analytics (“CLARA”), a leading provider of artificial intelligence (AI) technology for personal injury claims optimization, announces an exclusive partnership with OPEX Consultants (“OPEX”), an Australian boutique growth strategy and profit improvement insurance consulting practice, to represent CLARA in Australia and New Zealand. The partnership constitutes a strategic commitment to expand CLARA’s business in the Asia-Pacific region.

CLARA’s products have delivered rapid and substantial return on investment for some of the world’s leading insurers, including one of Australia’s largest global providers of general insurance. CLARA’s current customers see improved return-to-work outcomes, lower loss ratios, and efficient release of regulatory capital for productive purposes enabled by an AI platform that provides intelligent claim guidance.

OPEX will facilitate the sale and adoption of CLARA’s platform and entire range of personal injury claims solutions:

• CLARA Triage helps claims officers to identify high-risk claims and determine the optimal path to resolving them.
• CLARA Litigation offers insights that help insurers reach amicable settlements, thereby avoiding costly litigation.
• CLARA Treatment scores doctors based on actual outcomes and compares them to thousands of relevant closed claims.
• CLARA Optics automates medical records and legal demands transcription, extraction and organization that highlight important details about each claim.

“OPEX has seen first-hand that CLARA’s AI platform is a game-changer for insurers,” said KP Karunakaran, founder and Director of OPEX. “This technology helps overburdened claim officers focus on what matters most. It guides them to the best doctors for medical claims based on the individual facts of each case. It helps insurers to avoid costly and unnecessary litigation. Those kinds of capabilities translate to better outcomes for insured parties and injured workers, faster resolution of claims, substantially lower claims costs, and improved reserving accuracy. OPEX is excited to take this next step in our strategic relationship with CLARA and bring the benefits of this technology to insurers throughout the ANZ region.”

For CLARA, the partnership represents a major step forward in the company’s commitment to customers in the Asia-Pacific region. “CLARA is getting worldwide attention because we’re helping insurers deliver outstanding results,” said Heather H. Wilson, CEO of CLARA Analytics. “We deliver a win-win for everyone involved, and the measurable ROI is consistently impressive. OPEX has proven that they have what it takes to roll those benefits out to customers throughout the ANZ region. This is an important milestone in CLARA’s strategy to expand and deepen our coverage globally.”

About CLARA Analytics

CLARA Analytics is the leading AI as a service (AIaaS) provider that improves personal injury claims outcomes for carriers and self-insured organizations. The company’s product suite applies image recognition, natural language processing, and other AI-based techniques to unlock insights from medical notes, bills and other documents surrounding a claim. CLARA’s predictive insight gives claim professionals “AI superpowers” that help 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 OPEX Consultants

OPEX is a boutique growth strategy and profit improvement insurance consulting practice. Founded in 2010, OPEX works with clients to develop customized solutions that solve complex problems. Results are tangible and can be directly related to improved financial performance: revenue growth, margin improvement, or capital efficiency. For more information, visit www.opexconsultants.com.

All brand names and solution names are trademarks or registered trademarks of their respective companies.

Tags: CLARA Analytics, OPEX Consultants, claims optimization, artificial intelligence, AI, commercial insurance, personal injury insurance, claims management, insurtech, machine learning, claims, litigation, predictive analytics, workers compensation, CTP, compulsory third party, claims officer, property and casualty, Asia-Pacific, APAC, ANZ

Contacts

Dottie O’Rourke

TECHMarket Communications for CLARA Analytics

650-344-1260

CLARAanalytics@techmarket.com