Global Insurance Leader Committed to Improving Claims Process Using AI Technology
CLARA analytics (“CLARA”), the leading provider of artificial intelligence (AI) technology in the commercial insurance industry, announced that QBE Insurance has expanded its adoption of CLARA’s AI-based product suite across its Australian statutory claims, which includes workers compensation and CTP (auto liability) businesses.
“QBE recognizes the value of AI and machine learning and its capacity to transform every aspect of the claims process”
The company now utilizes the full range of the CLARA suite to drive better care and results for claimants across its Australian lines of business.
CLARA improves claims outcomes in commercial insurance with easy-to-use AI-based products. CLARA’s product suite helps claims teams reduce various sources of loss costs incurred in claims handling by keeping claims on track throughout their life cycle.
“AI is really about being compassionate at scale. If we lived in an ideal world, we would love to be beside each injured worker supporting them through their recovery,” said Jayant Lakshmikanthan, founder and CEO of CLARA analytics. “Unfortunately, this doesn’t scale beyond a certain point. AI is able to deliver this compassionate service to thousands of claimants to raise the standard for all commercial insurance claims.”
CLARA was first engaged by QBE Australia in September 2017 for its workers’ compensation claims. CLARA claims provides an early warning system to help frontline claims teams efficiently manage claims. The award-winning CLARA providers was later implemented, and QBE Australia will now deploy CLARA’s newest product, CLARA litigation, which is designed to avoid and reduce the overall cost of litigation.
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“QBE Australia is an excellent example of how a global insurance company can partner effectively with an InsureTech company to improve outcomes for their claimants,” added Lakshmikanthan.
“QBE recognizes the value of AI and machine learning and its capacity to transform every aspect of the claims process,” said David Bacon, general manager people risk claims (CTP and workers’ compensation), QBE Australia. “We see the injured people we work with as individuals we want to help on their path to recovery. We want to do this in a way that sets us up to be the best at helping bring their life back together after an injury. This works when we act as good people supported by science and analytics. CLARA powers us to do this at scale, helping my team to focus on the claims that need attention.”
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