Drive Positive Claims Outcomes with the New CLARA Analytics and Guidewire Cloud-Native Integration
Guidewire and CLARA Analytics have launched a new integration available in the Guidewire Marketplace for ClaimCenter users on Guidewire Cloud. This integration employs predictive and generative AI to monitor insurance claims from start to finish, providing actionable insights to optimize outcomes. The system aims to improve workflow efficiency, reduce manual labor, and lower claims costs by syncing data automatically and offering early intervention. CLARA’s tools also help adjusters with provider scoring and attorney involvement management. The pre-built integration aims to enhance cloud delivery and maintenance efficiency.
- Integration employs predictive and generative AI for claims monitoring.
- Enhances workflow efficiency and reduces manual labor.
- Automatic syncing of claim data between CLARA and ClaimCenter.
- Aims to lower claims costs with actionable insights.
- Provider scoring tool assists adjusters in selecting effective care for claimants.
- Helps avoid attorney involvement and manage litigation with attorney scoring.
- Pre-built integrations speed up cloud delivery and maintenance.
- Potential dependency on AI technology for claim handling could pose risks if the system fails.
- Initial implementation and integration may involve costs and time that could affect short-term financials.
- Over-reliance on automatic processes may lead to overlooked details in claims management.
Insights
The integration of CLARA Analytics with Guidewire ClaimCenter leverages AI technology to enhance the efficiency of processing insurance claims. CLARA’s platform integrates predictive and generative AI to monitor claims from initiation to settlement, providing actionable insights that streamline workflows and reduce manual labor. This is important for the insurance industry, where operational efficiency directly impacts the bottom line. By using this technology, insurers can preemptively address issues, potentially reducing claims costs. The inclusion of AI-driven insights within ClaimCenter further elevates the user experience, making it simpler for adjusters to access and act on important data.
This collaboration not only strengthens Guidewire’s position in the market but also highlights the growing importance of AI-driven solutions in insurance. By integrating CLARA’s AI capabilities into their platform, Guidewire can offer a more comprehensive and efficient claims management solution. For stakeholders, this means a potential competitive advantage as insurers using this integration may achieve better claims outcomes and improved customer satisfaction. In the long term, this could enhance customer retention and reduce churn rates, driving sustained income growth.
The integration news could positively influence Guidewire’s stock performance. With AI becoming a pivotal technology in insurance, these advancements and collaborations might attract new clients while retaining existing ones. The reduction in claims costs and enhanced operational efficiency these tools promise could translate into better financial results for insurers using Guidewire’s platform, potentially driving
Leveraging predictive and generative AI, CLARA’s solutions continuously monitor claims and provide actionable insights to help reach outcomes beneficial for insurers and insureds alike. CLARA’s technology follows claims for the whole life cycle, from first notice of loss to settlement, allowing early intervention.
Leveraging CLARA’s AI-powered technology, the CLARAty.ai platform integration for ClaimCenter enables claims professionals to:
- Easily view CLARA’s insights and predictions directly within the workplan screen in Guidewire ClaimCenter;
- Improve workflow efficiency and reduce manual labor, as claim data between CLARA and ClaimCenter will sync automatically; and
- Mitigate claims escalation and reduce claims costs by applying CLARA’s insights to claims.
CLARA helps adjusters get injured claimants the right care through its provider scoring tool that identifies doctors consistently associated with positive outcomes on prior claims. The technology also helps avoid attorney involvement in claims. If attorneys do become involved, it provides detailed attorney scores and replacement alerts to help navigate litigation and potential settlement.
Built by Guidewire integrations are pre-built and standardized by Guidewire to speed cloud delivery and maintenance. Leveraging the Integration Framework for Guidewire Cloud, developers can implement integrations between InsuranceSuite and third-party apps using multiple APIs, messaging systems, or protocols with ease.
“The CLARA and Guidewire integration brings two industry innovators together, creating more value for our shared cloud customers,” said Heather H. Wilson, Chief Executive Officer, CLARA Analytics. “Our AI-driven tools and resources help claims professionals uncover the most critical actions to take on open claims, delivering real savings to insurers. The AI resources complement ClaimCenter perfectly on the cloud.”
“We are delighted to further our collaboration with CLARA by delivering our new Built by Guidewire integration on Guidewire Cloud,” said Will Murphy, Vice President, Global Technology Alliances, Guidewire. “The CLARAty.ai platform brings CLARA’s insights directly into ClaimCenter, improving efficiency and user experience for adjusters.”
About CLARA Analytics, Inc.
CLARA Analytics is the leading AI as a service (AIaaS) provider that improves casualty claims outcomes for insurance carriers, MGAs, reinsurers, and self-insured organizations. The company’s platform applies image recognition, natural language processing, and other AI-based techniques to unlock insights from medical notes, legal demand packages, bills and other documents surrounding a claim. CLARA’s predictive insight gives claim professionals augmented intelligence that helps them reduce claim costs and optimize outcomes for the carrier, customer and claimant. CLARA’s customers include companies from the top 25 global insurance carriers to large third-party administrators and self-insured organizations. Founded in 2017, CLARA Analytics is headquartered in California’s Silicon Valley. For more information, visit www.claraanalytics.com, and follow the company on LinkedIn and @CLARAAnalytics.
About Guidewire PartnerConnect ecosystem and Built by Guidewire
Guidewire PartnerConnect is designed to help Property and Casualty (P&C) insurance companies revolutionize their operations by connecting them with the largest peer network in the industry. Built by Guidewire apps are standardized integration solutions pre-built and managed by Guidewire that speed the delivery and maintenance of common integrations. These integrations are kept current with the latest product and vendor releases, and leverage Guidewire's Integration Framework and latest third-party technologies, designed to fully align with Guidewire Cloud Standards. Where available, under an optional services agreement, Guidewire can provision, configure, parameterize, maintain, and perform annual upgrades of the integrations for customers.
Today, insurers can access over 215 integrations developed for the Guidewire Marketplace that have been validated for security, quality, and compatibility. The Guidewire Marketplace comprises an ecosystem of powerful yet user-friendly solutions that scale for improved customer experiences.
For more information, please visit the Guidewire Marketplace.
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 540 insurers in 40 countries, from new ventures to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with more than 1,600 successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.
For more information, please visit www.guidewire.com and follow us on X (formerly known as Twitter) and LinkedIn.
NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240515216800/en/
Melissa
Senior Public Relations Manager
Guidewire Software, Inc.
+1.650.464.1177
mcobb@guidewire.com
Dottie O'Rourke
TECHMarket Communications for CLARA Analytics
(650) 344-1260 x102
CLARAteam@techmarket.com
Source: Guidewire Software
FAQ
What is the new integration between Guidewire and CLARA Analytics?
How does the integration improve claims management?
What benefits does the CLARA provider scoring tool offer?
Is the integration pre-built?
How does the technology help with attorney involvement in claims?
