Clara Analytics, a provider of artificial intelligence (AI)-driven workers’ compensation claims management tools, announced a partnership with Unqork, an enterprise no-code platform, to bring Clara’s predictive AI analytics to enterprise risk managers and insurance carriers through risk management software built on Unqork’s no-code platform. This combination will allow risk professionals to analyse and uncover key drivers of claim complexity and enable them to proactively undertake loss prevention and other mitigation initiatives to minimise their claims exposure, whether their claims are administered internally, by a third party, or directly by an insurance carrier.
Risk managers have a lot to stay on top of with their injured workers’ claims. They want to ensure that claims are being handled in as efficient a manner as possible and for workers to receive the best care to allow for effective and complete recoveries. Additionally, risk managers want to gain perspectives across several areas — what injuries are happening, where they’re occurring, and at what times — across all their facilities to take appropriate corrective actions that minimise hazards and future injuries.
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Clara’s AI models, built on its proprietary data lake of 3.7 million workers’ comp claims, unlock these insights. For nearly ten years, Clara’s clients have known early on which claims are going to become complicated, which medical providers will provide the best care and outcomes, which claims are likely to become litigious, and which attorneys are best suited to handle each case. By building software using Unqork’s no-code platform, carriers can launch new mission-critical software 3x as fast and for a third of the cost, compared to methods that rely on coding. When it comes to risk management, this enables carriers to quickly scale their risk management software, easily deliver insights, and support the claims process, ultimately improving the user experience for risk managers and customers.
“Legacy, laborious code-based methods have left IT departments unable to deliver state-of-the-art risk management data and visualisations to chief risk officers and their teams,” said Farooq Sheikh, Unqork’s Insurance Go to Market Lead. “Unqork allows carriers to develop mission-critical software without writing a single line of code. We are excited to partner with CLARA Analytics, enabling carriers and self-insured companies to develop a comprehensive risk management information suite and ultimately add value for all their stakeholders.”
“Our partnership with Unqork is very exciting,” said Tom Warden, Chief Insurance and Science Officer at Clara Analytics. “We are looking to broaden the range of customers we serve, and Unqork has already established its no-code platform inside many companies that self-insure for workers’ comp. As Unqork increases its focus on risk management tools for its clients, we will bring a level of insight to their claims portfolios that they’ve always wanted but couldn’t get. Our partnership with Unqork is truly a winning proposition for everyone.”
