According to Gidwaney, Clara has three differentiating value propositions. The first is that Clara offers a single, comprehensive benefit that pays out a lump sum of cash if someone gets sick or injured. This is different to the traditional market, in which insureds typically have to buy multiple supplemental products on top of their existing medical insurance – a practice that Gidwaney describes as “convoluted” and out-of-date.

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Secondly, the firm claims to cover a wide range – up to 93% - of conditions that would require urgent medical care, including chronic conditions and mental illnesses. And finally, through natural language processing and machine learning, insureds can kickstart the claims process by snapping a photo of their cast, their X-Ray, or their hospital discharge papers, and so on, and the smart technology will send a lump sum of the payment to the claimant within hours.