Top 10 Personal Auto Carrier Turns to AI to Transform Claims Management - Seite 2

Market leaders have responded positively, leading to CLARA’s tripling of annual recurring revenue (ARR) over the past two years. Investors have recognized the value as well. CLARA raised $28 million in Series C Preferred financing including a recent investment from Nationwide Ventures. CLARA has also been recognized by Gartner as a Sample Vendor in its Hype Cycle for Digital Life and P&C Insurance, 2023.¹

“The majority of our customers are achieving ROI in excess of 500% with AI,” added Wilson. “CLARA arrived on the scene in 2017 as an AI-first company, founded on the premise that to achieve those kinds of returns, insurers needed a purpose-built AI platform, developed by experts in claims management. We’ve built our products with an obsessive attention to detail and a deep understanding of the audience that uses our technology. That’s what makes this kind of ROI possible.”

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GARTNER and Hype Cycle are registered trademarks and service marks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

¹ Gartner, “Hype Cycle for Digital Life and P&C Insurance, 2023,” Laurie Shotton, 6 July 2023

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 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 @CLARAAnalytics.