CLARA Analytics Announces $11.5M Series A Led by Oak HC/FT
Santa Clara-based AI and data science company CLARA analytics announced it has raised $11.5 million in a Series A funding round led by Oak HC/FT . The startup, established in 2016 and led by Jayant Lakshmikanthan, is a predictive analytics company for work comp, allowing 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.”
These solutions allow insurers to (1) detect potential litigation, (2) connect claims to the right providers, and (3) ensure optimal treatment protocol; to name a few. Also, according to the company’s press release, it will soon extend to other lines of business like commercial auto, general and professional liability, and disability.
Read in the context of: (1) The Hartford Select Network – a data-driven solution that helps Hartford (the second largest WC insurer in the US) drive the best outcomes for its injured policyholders. Play here. (2) MyTravelers for Injured Employees – a digital self-service capability that streamlines the WC claim process for policyholders.