Clyde & Co relaunches online casualty platform as it merges with BLM
Clyde & Co has merged with BLM today and is rebranding its recently launched online casualty insurance platform to Clyde & Co Newton.
The combined firm is called Clyde & Co and the majority of BLM’s teams have joined its casualty insurance practice, which is now the biggest in the UK.
The expanded casualty practice has more than 800 legal professionals. It has relaunched and rebranded its online casualty innovation platform as Clyde & Co Newton.
Originally launched in November last year, Clyde & Co Newton promises to offer casualty clients innovative, technology-based solutions.
Clyde & Co Newton combines casualty insurance legal expertise with claims automation and artificial intelligence, to help deliver lower overall indemnity spend for casualty clients. The platform has the ability to ‘read’ 99% of all documents required for claims evaluation and can automatically produce valuations for 89% of employers’ liability and public liability claims.
The Clyde & Co Newton platform now offers tools across the following categories:
- Automation and robotics – combining machine learning with AI to automate routine claims processes
- Calculation tools – a range of calculation tools to ensure quick and accurate claims handling
- Data extraction and analytics – deep-dive analytics to enhance processes and decision-making
- Collaboration – making the claims experience easier for insurers and policyholders
- Indemnity spend saving and cost reduction – products to help insurers drive down indemnity spend
- Claims decision support – assistance for claims handlers to make better decisions.
“Clyde & Co Newton incorporates a wide range of innovation product types, including an AI costs assessor, a loss of earnings and pensions calculator, a recoveries assistant and an accommodation claim calculator. Further products are also in the pipeline for delivery across the remainder of 2022 and 2023,” said Clyde & Co.
