Back to Resources

WorkCompCentral: Artificial Intelligence Enhances Self-Insureds’ Advantages

As the landscape of commercial insurance evolves, self-insured companies are increasingly turning to cutting-edge technologies to maintain a competitive edge. In this article, we explore how artificial intelligence (AI) offers significant opportunities for self-insured organizations to enhance their advantages by streamlining processes, improving risk assessment, and optimizing claims management. From predictive analytics to fraud detection and personalized employee training, AI is revolutionizing the way self-insured companies approach workers’ compensation, commercial auto, and general liability, ultimately driving cost savings, increased efficiency, and a safer work environment.

Why Companies Self-Insure

For many companies, self-insuring their workers’ compensation and other programs is a strategic decision driven by the potential benefits it can offer over traditional insurance policies. The main reason companies opt for self-insurance is the opportunity for cost savings. By directly managing their liability risks, companies with strong safety records and low claim frequencies can often achieve lower overall costs compared to purchasing insurance from commercial carriers. Companies that self-insure, in essence cut out the middleman, and retain the net profits that they would pay to an insurer as part of their premium payments.

Self-insureds create this advantage in numerous ways:

Read the entire article here

CLARA Litigation is an AI solution that uses contributory data to understand attorney performance to optimize your legal defense strategy and much more. Learn more about CLARA Litigation here

Team CLARA Analytics

CLARA Analytics is the leading AI as a service (AIaaS) provider that improves casualty claims outcomes for commercial insurance carriers and self-insured organizations.

It's Easy To Get Started

Optimize claims outcomes with the power of AI