Aon partners with insurtech on workers' comp claims
Aon has collaborated with insurtech CLARA analytics to offer workers’ compensation insurers artificial intelligence and predictive analytics tools that help injured employees return to work quickly.
The deal facilitated by Aon Benfield, the broker’s reinsurance intermediary and capital advisor, also decreases loss ratios and improves operational efficiency around claims for carriers, according to the companies.
“For carriers balancing C-suite and board level interest in innovation and cost management, CLARA can be a quick and easy win with minimal impact to expenses,” said George deMenocal, president and CEO of Aon Benfield US, in a statement. “CLARA’s analytics will be complemented by Aon Inpoint [Aon’s data aggregation platform] to improve claims outcomes and develop AI platforms to gain operational efficiencies for insurers.”
CLARA’s core products are designed to live within carriers’ existing claims workflow. The first, PUMA, is a tool that instantly connects injured workers with medical providers. Meanwhile, CATT operates as a “control tower” for adjusters and expedites simple claims using data compiled through machine learning the day a first notice of loss occurs.
“Key decisions like finding the right doctor for an injury or prioritizing claims can be tough to make without science-based tools,” said Jayant Lakshmikanthan, president of CLARA analytics. “Our mission is to deliver easy-to-use tools like PUMA and CATT to adjusters and supervisors that are built upon cutting-edge AI technologies.”