Clara Analytics, an AI and data science firm, has announced an $11.5m series A funding round, led by venture growth-equity fund OAK HC/FT. Clara offers claims operation software based on AI for the personal injury, disability and property insurance markets, and aims to reduce the billions of dollars of annual losses due to claims leakage in these sectors. The company is also working with a number of other firms including Deloitte Touche Tohmatsu LLP, which specializes in advising clients on how to use artificial intelligence (AI) to improve their business
Clara Analytics, an AI and data science firm, has announced an $11.5m series A funding round, led by venture growth-equity fund OAK HC/FT. Clara offers claims operation software based on AI for the personal injury, disability and property insurance markets, and aims to reduce the billions of dollars of annual losses due to claims leakage in these sectors. The company claims its technology can reduce up to 10% of claims indemnity and loss adjustment costs.