CLARA rallies $11.5 mln Series A - PE Hub

Santa Clara, California-based CLARA Analytics, a developer of AI-based solutions focused on claims operations for the property and casualty and disability insurance industries, has raised $11.5 million in Series A funding. Oak HC/FT led the round. CLARA enables the $800 billion global commercial property and casualty market to improve financial performance by decreasing the billions of dollars in claims leakage that occurs annually. Today, solutions from CLARA empower workers' compensation claims organizations to improve the medical management of claimants while simultaneously reducing the costs of claims with easy-to-use AI-based solutions, CLARA providers and CLARA claims. CLARA's advanced analytic solutions incorporate the latest in AI technology to reduce claims leakage and frictional costs for insurance companies and self-insured corporations by: Detecting (early) potential litigation and optimizing legal representation to improve outcomes and reduce defense expenses.