Berkshire Hathaway Homestate Companies using AI Technology

(BRK.A), (BRK.B)

Berkshire Hathaway Homestate Companies, a group of six insurance carriers that are part of the Berkshire Hathaway insurance group, has selected CLARA analytics, the leading provider of artificial intelligence (AI) technology in the commercial insurance industry, in order to advance its workers’ compensation claims operations.

BHHC will integrate the full suite of CLARA products, including CLARA providers, CLARA litigation and CLARA claims as well as its popular Medicare Set-Aside solution.

“AI offers an unprecedented opportunity to improve the entire claims process by analyzing millions of data points — making connections, spotting trends, and developing meaningful insights in a matter of seconds,” said Russ Selinger, Senior Vice President of Claims at Berkshire Hathaway Homestate Companies.

CLARA products utilize AI and advanced machine learning to deliver key insights that help commercial insurance organizations increase efficiency and make data-driven decisions that substantially improve operations as well as client service. This comprehensive product suite empowers teams to reduce loss costs incurred in claims handling by keeping claims on track throughout their life cycle.

“BHHC is one of the most respected companies in the insurance landscape, always focused on providing compassionate care to recovering workers and superior service to its customers,” said Gary Hagmueller, CEO of CLARA analytics. “CLARA will help BHHC further differentiate itself by facilitating and informing the claims process in incredible new ways. Our platform will deliver powerful insights to claims representatives, turning them into instant experts who can handle each claim with precision, respect and empathy at scale.”

© 2020 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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