Market Overview

CLARA analytics Adds Industry Leader to Advisory Board as Company Brings Easy-to-Use Artificial Intelligence to the Insurance Industry

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CLARA
analytics
("CLARA"), a leading artificial intelligence (AI) and data
science company that specializes in easy-to-use AI-based solutions for
the property & casualty and disability insurance industries, today
announced it has appointed distinguished industry veteran Ruth Estrich
to its advisory board. Estrich brings 45 years of executive leadership
and in-depth knowledge to CLARA. Estrich joins CLARA as the company has
nearly doubled in size over the last year to take advantage of the
significant market demand for its products.

"Ruth is a remarkable leader who joins in our mission of improving
claims outcomes and dramatically bringing down loss costs in claims
operations through easy-to-use AI. We are honored to have her as a
partner in our journey," said Jayant Lakshmikanthan, CEO and founder of
CLARA.

Estrich retired as chief strategy officer of MedRisk Inc., where she was
responsible for new product development and network development and
oversaw MedRisk's clinical and research subsidiary, Expert Clinical
Benchmarks (ECB). Prior to MedRisk Inc., Estrich was the head of
LibertyWorks and held national responsibility for all workers'
compensation managed care network development and operations for both
Liberty Mutual and Wausau Insurance Companies. Additionally, she served
as assistant vice president of CNA Insurance Companies in Chicago for 18
years, where she led the development of CNA's managed care programs and
ran a department that included systems and product development, managed
care operations, advertising, and sales support for the group benefits
lines of business. Estrich currently serves as a past president of IASA.

"Ruth is a stalwart of industry ethics and leads the way with a
straightforward approach to product evaluation and implementation. If a
product fails to deliver significant results that matter, she won't
touch it. We are proud that after her rounds of due diligence, Ruth
chose to assist us in our efforts," added Lakshmikanthan.

CLARA's addition of Estrich as a strategic advisor comes as the company
nears the end of its first year as a stand-alone company. In the 10
months since spinning off from parent company LeanTaaS,
CLARA has secured $11.5 million in Series A funding led by Oak HC/FT.
Despite the industry's reputation for lengthy purchasing cycles, the
company has added numerous customers across various segments — carriers,
self-funded employers, third-party administrators, re-insurers, managed
care companies, and state funds. The remarkably enthusiastic response to
CLARA's three product offerings, CLARA
providers
, CLARA
claims
, and its newest addition CLARA
litigation
, can be attributed to CLARA's ability to transform how
teams function — applying AI and machine learning to the claims process
in very specific ways that streamline operations and substantially
reduce costs, resulting in better care.

CLARA's unique ability to operationalize data science and AI in
easy-to-use products integrates seamlessly with companies' existing
processes to meet customers' specific needs and work within their
models. To address market demand, CLARA has already grown to 45
employees in under a year with aggressive plans for future growth.

To learn more about how CLARA is modernizing the property & casualty and
disability insurance industries, please visit www.claraanalytics.com/.

About CLARA analytics

CLARA
analytics
empowers workers' compensation claims teams to rapidly get
injured workers back on track with easy-to-use artificial intelligence
(AI)-based products. Its CLARA
providers
search engine is an award-winning provider scoring engine
that helps rapidly connect injured workers to the right providers, while CLARA
claims
is an early warning system that helps frontline claims teams
efficiently manage claims, reduce escalations and understand the drivers
of complexity. CLARA
litigation
, the newest addition to CLARA's product suite, uses the
power of AI/ML to minimize the impact of litigation. CLARA's customers
include a broad spectrum — from the top 25 insurance carriers to small,
self-insured organizations. For more information, visit www.claraanalytics.com/,
and follow CLARA analytics on LinkedIn,
Facebook
and
Twitter
.

CLARA litigation, CLARA providers and CLARA claims are trademarks of
CLARA analytics. All other brand names and solution names are trademarks
or registered trademarks of their respective companies.

Tags: CLARA analytics, workers compensation, workers comp, artificial
intelligence, AI, machine learning, property & casualty, disability
insurance, Ruth Estrich, predictive analytics, data science

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