Data Science Company CLARA Raises $11.5 Million Through Series A Funding Round For AI Insurtech Claim Solutions Crowdfund Insider

Artificial intelligence (AI) and data science company, CLARA Analytics, announced on Thursday it raised $11.5 million Series A funding round led by OAK HC/FT for its AI insurtech claim solutions. Founded in 2016, CLARA Analytics states it builds easy-to-use, AI/machine-learning based products. "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: "CLARA is a first mover in utilizing AI to dramatically improve claims outcomes for the P&C industry. Their technology is highly advanced and has already driven strong ROI for its customers by reducing up to 10 percent of claims indemnity and loss adjustment expenses. We look forward to partnering with CLARA in building their business and to continue to develop and mature solutions for other property and casualty lines of business."