Foresight Commercial Insurance, a managing general underwriter (MGU) of workers’ compensation insurance, has selected CLARA Analytics to enhance insurance claim outcomes.
Under the partnership, Foresight will use improved technology to partner with its third-party administrators (TPAs) and enhance claim escalation with real-time claims data monitoring.
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Foresight will also deploy CLARA’s Triage platform to facilitate claims management and increase the pace of claim cycles in case of workplace injuries.
CLARA’s artificial intelligence (AI)-driven platform will complement Foresight’s approach to predicting and avoiding injuries.
Its Triage platform has the capability to enable adjusters to quickly identify high-risk casualty claims and mark them out for resolution.
The AI platform benefits from a contributory database of millions of closed claims to deliver improved predictive accuracy and wider benchmarking capabilities.
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By GlobalDataInsights offered by the platform help in assigning the right claim to the right adjuster after the first notification of loss.
Claimants receive their service as per the severity of the injury while Foresight’s claim professionals can turn their attention to the claims that are the most important.
This approach results in improved medical outcomes for injured parties, as well as helping workers return to the job quickly and minimising the overall cost of claims.
Foresight Commercial Insurance chief insurance officer Kelly McLaughlin said: “CLARA’s AI platform to predict and prevent claim escalation delivers impressive ROI for workers’ compensation MGUs, and we see it as a great fit for Foresight.
“CLARA’s products will help us understand workers’ compensation claim trends, get injured workers the best possible care, close claims faster, and ultimately reduce claims costs for our customers.”
