Insurance Times Awards 2024: Clearspeed’s voice analytics ‘goes beyond traditional tools’ in fraud mitigation

1. Why did you put yourselves forward for the category?

Clearspeed’s voice analytics technology is unlike any solution available in the market today. It’s an entirely unique risk insight that provides a fast, accurate and unbiased indicator of potential fraud, elevating the experience for insurers and insureds alike.

While existing tools may provide assessments of risk based on historical records, there’s still a gap when assessing opportunistic fraud. Clearspeed is a direct, primary measure of risk and confirms information that’s otherwise expensive to obtain or verify.

Our clients apply this data to expedite claims and optimise follow up resources during the settlement process, enabling a more seamless claims process overall.

2. What do you think makes your entry stand out and why should you win the award?

Consistently identified as a leader in the next generation of AI-enabled solution providers, Clearspeed is redefining the risk assessment ecosystem by addressing the trade-off between fraud detection and customer experience head on.

Clearspeed goes beyond traditional tools, addressing the gap in identifying opportunistic fraud as a unique primary measure of risk.

Our 800% increase in client usage over the last year, impressive ROI metrics – 50% reduction in handling time, 35% increase in fraud savings, 65% reduction in average investigation spend and, overall, a 40% rise in immediate settlements – and positive client testimonials demonstrate Clearspeed’s impact of building a better world through trust enablement.

3. What would winning this award mean to you and your firm?

Winning the Excellence in Claims Technology award would be an incredible honour.

It’d be a testament to our team’s dedication to revolutionising claims processing and commitment to innovation in the insurtech space. This will also allow us to continue to build out relevant use cases to better serve the industry.

Moreover, we believe this would further inspire our team to push boundaries and demonstrate to insurers and insureds that there is no need for a tradeoff between speed and security.