Integrating CLARA analytics' predictive analytics and AI tools with Sapiens' core workers' compensation offering will lead to faster and better decisions for injured workers
Image: Headquarters of Sapiens in Holon, Israel. (Credit: Elvenking89/Wikipedia.org)
Sapiens Americas, a wholly owned subsidiary of Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today it has entered into an agreement to partner with CLARA analytics, a provider of easy-to-use artificial intelligence (AI)-based products. The company’s offerings improve claims outcomes throughout the lifecycle and reduce various sources of loss-costs in claims handling.
CLARA analytics’ robust predictive analytics tool for workers’ compensation claims will be paired with Sapiens CoreSuite for Workers’ Compensation to improve customers’ processes and provide access to in-depth analysis for proactive risk mitigation.
The collaboration will help facilitate interventions for loss-time injured workers who are most likely to benefit from them and the ability to simulate the costs and benefits of existing early intervention programs, under a predictive modeling framework.
“We are excited about the opportunity to work with Sapiens, a leading global organization, and to empower its workers’ compensation claims teams to transform the way workplace injuries are handled, including decisions such as finding the right doctor and prioritizing claims,” said Gary Hagmueller, president and CEO, CLARA analytics. “Our tools are designed to be easily implemented into an insurer’s existing claims workflow, while reducing costs to provide a significant return on investment.”
“This strategic alliance will meet the current and future needs of Sapiens’ customers in a transparent and efficient way,” said Roni Al-Dor, Sapiens president and CEO. “Carriers can discover new claims insights and understand how these discoveries will positively affect the course of a claim, an employee’s role within an organization and the insurer’s bottom line.”
Sapiens CoreSuite for Workers’ Compensation offers technology solutions that enable companies to quickly adapt to business and market conditions, offering high levels of accuracy and efficiency. The suite provides broad functionality throughout the entire insurance lifecycle for workers’ compensation, via a core suite, as well as policy, claims and intelligence modules.
Source: Company Press Release