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CLARA analytics Adds Industry Leader to Advisory Board as Company Brings Easy-to-Use Artificial Intelligence to the Insurance Industry

August 28, 2018

SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug 28, 2018--CLARA analytics (“CLARA”), a leading artificial intelligence (AI) and data science company that specializes in easy-to-use AI-based solutions for the property & casualty and disability insurance industries, today announced it has appointed distinguished industry veteran Ruth Estrich to its advisory board. Estrich brings 45 years of executive leadership and in-depth knowledge to CLARA. Estrich joins CLARA as the company has nearly doubled in size over the last year to take advantage of the significant market demand for its products.

“Ruth is a remarkable leader who joins in our mission of improving claims outcomes and dramatically bringing down loss costs in claims operations through easy-to-use AI. We are honored to have her as a partner in our journey,” said Jayant Lakshmikanthan, CEO and founder of CLARA.

Estrich retired as chief strategy officer of MedRisk Inc., where she was responsible for new product development and network development and oversaw MedRisk’s clinical and research subsidiary, Expert Clinical Benchmarks (ECB). Prior to MedRisk Inc., Estrich was the head of LibertyWorks and held national responsibility for all workers’ compensation managed care network development and operations for both Liberty Mutual and Wausau Insurance Companies. Additionally, she served as assistant vice president of CNA Insurance Companies in Chicago for 18 years, where she led the development of CNA’s managed care programs and ran a department that included systems and product development, managed care operations, advertising, and sales support for the group benefits lines of business. Estrich currently serves as a past president of IASA.

“Ruth is a stalwart of industry ethics and leads the way with a straightforward approach to product evaluation and implementation. If a product fails to deliver significant results that matter, she won’t touch it. We are proud that after her rounds of due diligence, Ruth chose to assist us in our efforts,” added Lakshmikanthan.

CLARA’s addition of Estrich as a strategic advisor comes as the company nears the end of its first year as a stand-alone company. In the 10 months since spinning off from parent company LeanTaaS, CLARA has secured $11.5 million in Series A funding led by Oak HC/FT. Despite the industry’s reputation for lengthy purchasing cycles, the company has added numerous customers across various segments — carriers, self-funded employers, third-party administrators, re-insurers, managed care companies, and state funds. The remarkably enthusiastic response to CLARA’s three product offerings, CLARA providers, CLARA claims, and its newest addition CLARA litigation, can be attributed to CLARA’s ability to transform how teams function — applying AI and machine learning to the claims process in very specific ways that streamline operations and substantially reduce costs, resulting in better care.

CLARA’s unique ability to operationalize data science and AI in easy-to-use products integrates seamlessly with companies’ existing processes to meet customers’ specific needs and work within their models. To address market demand, CLARA has already grown to 45 employees in under a year with aggressive plans for future growth.

To learn more about how CLARA is modernizing the property & casualty and disability insurance industries, please visit www.claraanalytics.com/.

About CLARA analytics

CLARA analytics empowers workers’ compensation claims teams to rapidly get injured workers back on track with easy-to-use artificial intelligence (AI)-based products. Its CLARA providers search engine is an award-winning provider scoring engine that helps rapidly connect injured workers to the right providers, while CLARA claims is an early warning system that helps frontline claims teams efficiently manage claims, reduce escalations and understand the drivers of complexity. CLARA litigation, the newest addition to CLARA’s product suite, uses the power of AI/ML to minimize the impact of litigation. CLARA’s customers include a broad spectrum — from the top 25 insurance carriers to small, self-insured organizations. For more information, visit www.claraanalytics.com/, and follow CLARA analytics on LinkedIn, Facebook and Twitter.

CLARA litigation, CLARA providers and CLARA claims are trademarks of CLARA analytics. All other brand names and solution names are trademarks or registered trademarks of their respective companies.

Tags: CLARA analytics, workers compensation, workers comp, artificial intelligence, AI, machine learning, property & casualty, disability insurance, Ruth Estrich, predictive analytics, data science

View source version on businesswire.com:https://www.businesswire.com/news/home/20180828005478/en/

CONTACT: TECHMarket Communications

Dottie O’Rourke, 650-344-1260

CLARAanalytics@techmarket.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE PROFESSIONAL SERVICES INSURANCE

SOURCE: CLARA analytics

Copyright Business Wire 2018.

PUB: 08/28/2018 09:24 AM/DISC: 08/28/2018 09:24 AM

http://www.businesswire.com/news/home/20180828005478/en

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