CLARA Analytics Empowers Insurers with Unmatched Intelligence-as-a-Service for Superior Claims Control

CLARA Analytics Introduces Intelligence-as-a-Service to Empower Insurers

CLARA Analytics, a leader in AI-driven insurance claims optimization, has launched CLARA Intelligence-as-a-Service (IaaS), a new solution that equips claims executives with detailed and actionable information. This offering taps into the largest dataset of bodily injury claims across workers’ compensation, auto liability, and general liability, giving insurers and self-insured organizations strategic insights to improve claims management and profitability.

With millions of records collected over more than a decade, CLARA IaaS delivers granular insights that help insurance professionals make informed decisions. It addresses ongoing challenges such as loss and expense accuracy, social inflation, and reserving adequacy, enabling greater control over complex claims.

How CLARA IaaS Supports Claims Leaders

By leveraging CLARA’s extensive industry data, insurers can:

• Query their claims practices for detailed analysis
• Identify unusual patterns and areas needing attention
• Optimize reserving and settlement strategies

What sets CLARA IaaS apart is its flexibility. It adapts to specific business requirements, considering key variables like state regulations, litigation trends, hazard classifications, injury details, and geographic factors.

Configurable Variables Include:

• State-specific legal and regulatory rules
• Jurisdictional and litigation environment trends
• Hazard classifications such as class codes and occupations
• Damage details including body parts affected and injury causes
• Geographic segmentation by state, county, or zip code

This "apples-to-apples" comparison offers a precise view of an organization’s performance against peers, highlighting areas where improvements can be made. Combining AI insights with expert reports and industry benchmarks, CLARA IaaS delivers intelligence that drives measurable results.

Key Features of CLARA Intelligence-as-a-Service

• Industry Benchmarking: Customized benchmarks that account for jurisdiction, litigation climate, and hazard grades, tailored to your portfolio.
• Expert-Curated Reports: Detailed analysis of industry trends and pressures, created by insurance professionals for insurance professionals.
• Standardized KPI Tracking: Consistent metrics across claims, litigation, and reserving to provide clear and comparable insights over time.
• Customizable Experience: Reporting, visualizations, and analytics adapted to your organization's priorities and needs.

Built on CLARA’s existing AI products, this solution delivers immediate value right from deployment.

Maximizing Claims Performance with Data

CLARA IaaS enables insurers and self-insured groups to analyze their claims data in context with industry benchmarks or their own historical performance. One standout benefit observed during testing is its ability to detect over- or under-reserving through loss triangle analysis—a critical factor for accurate balance sheet management and shareholder value.

Over-reserving can inflate loss ratios and obscure true underwriting results. By identifying these discrepancies, organizations can optimize their financial reporting and decision-making.

Access to both proprietary data and comprehensive market intelligence allows claims leaders to base strategic choices on a complete view of market conditions, not just internal data. This shifts claims management from reactive to proactive leadership.

CLARA IaaS provides the clarity and control insurers need to improve claims outcomes and strengthen their bottom line.