The Black Car Fund to Use CLARA’s Generative AI
The Black Car Fund, a not-for-profit organisation which provides protection for New York’s for-hire drivers, has partnered with CLARA Optics and CLARA Triage with the aim of improving medical outcomes for injured drivers, improving reserve accuracy, and alleviating administrative burdens for adjusters.
CLARA Optics uses predictive AI, generative AI (Gen AI), and large language models (LLMs) to automate medical records transcription and deliver actionable insights to claims management personnel.
CLARA Triage helps adjusters to identify high-risk casualty claims and flag them for proactive resolution. The AI platform is trained on a contributory database of millions of closed claims to provide high predictive accuracy and broad benchmarking capabilities.
How CLARA Analytics integrates into The Black Cab Fund
The generated insights enable the assignment of the right claim to the correct adjuster at first notice of loss, while adjusters are given decision support and when setting reserves, leading to more accurate reserving. Claimants are more likely to get the level of service they need for the severity of the injury. Overall, this approach may lead to optimal medical outcomes for injured parties, gets workers back on the job quickly, and reduces claim costs.
“CLARA’s AI platform will improve reserve accuracy and create greater efficiencies across our claims operation,” says Eric Hornick, Chief Claims Officer and Actuary at The Black Car Fund.
"Each of our adjusters must manage a workload of up to 300 claims at any given time. CLARA’s technology will reduce that burden, freeing them up to deliver highly personalised, empathetic service to injured drivers.”
CLARA’s AI platform is capable of analysing both structured and unstructured data, performing contextual analysis using natural language processing (NLP) and LLMs tuned specifically for insurance claims. CLARA asserts that its customers consistently achieve remarkable ROI, with most exceeding 500%.
Unlike many popular Gen AI tools, CLARA’s generative technology isolates insurance carriers’ data for both model training and operational purposes, so data remains confidential and secure. Also, CLARA Optics has been designed to deliver high levels of accuracy, basing its conclusions on confirmed internal data sources and performing redundancy checks to ensure that the information it provides to claims managers is correct.
“The Black Car Fund provides a vitally important service to tens of thousands of for-hire vehicle drivers throughout New York,” says Heather H. Wilson, CEO of CLARA Analytics: “We are excited to support The Black Car Fund’s efforts to provide the highest level of service for injured drivers, eliminate administrative work for busy adjusters, and drive better claim outcomes for all parties. We’re pleased that they have chosen CLARAty.ai as their claims intelligence platform.”
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