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Aon Benfield on Thursday said it has partnered with Santa Clara, California-based CLARA Analytics to offer artificial intelligence tools to U.S. workers compensation insurers.
The tools address the challenge of helping claims operations make decisions for injured workers quickly through predictive analytics and artificial intelligence.
They include: PUMA, which rapidly connects injured workers to the right medical providers; and CATT, which helps claims managers focus their teams’ efforts in a just a few minutes on priority cases. This is based on machine learning algorithms that provide insights through “pattern recognition” based on the dataset, Aon Benfield said in a statement.
“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, Stamford, Connecticut-based president and CEO of Aon Benfield US, in the statement.
“Key decisions like finding the right doctor for an injury, or prioritizing claims can be tough to make without science-based tools,” CLARA President Jayant Lakshmikanthan said in the statement. “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.”
The ManchesterStory Group, a venture capital firm focused on insurance-relevant financial technology and health care companies, on Tuesday said it has named former Aon Benfield Executive Chairman Michael O’Halleran special adviser and chair of the advisory board of ManchesterStory Venture Fund L.P.