CLARA Analytics is an AI as a service (AIaaS) provider founded in 2017 that applies artificial intelligence to casualty claims for commercial insurance carriers, MGAs, reinsurers and self-insured organisations. Its technical work spans machine learning, image recognition, natural language processing, document intelligence, claims analytics and fraud detection - applied to unstructured claim material such as medical notes, legal demand packages and bills.
The company's flagship product, CLARAty.ai, is a casualty Claims Intelligence Platform that extracts insight from the documents surrounding a claim. It is supported by a suite of modules: CLARA Triage, for prioritising and routing claims; CLARA Treatment, for treatment-related insight; CLARA Litigation, for litigation management; CLARA Claims DocIntel Pro, for document intelligence; and CLARA Fraud, for detecting fraudulent claims activity.
The firm serves the commercial insurance, workers' compensation, auto liability and general liability markets, as well as reinsurance, third-party administration and self-insured organisations. Its customers range from large third-party administrators to companies among the top 25 global insurance carriers. CLARA Analytics reports annual recurring revenue growth of over 100% year over year and has raised $64 million in total funding.
Headquartered in Silicon Valley, California, CLARA Analytics operates as a 100% remote-first organisation with distributed teams.
