Latest news with #Clearspeed
Finextra
27-06-2025
- Business
- Finextra
Clearspeed raises $60m for voice-based risk assessment tech
Clearspeed, the global leader in voice-based risk assessment technology, today announced it has secured $60 million in Series D funding, bringing the company's total funding to $110 million. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The round was led by Align Private Capital, with participation from IronGate Capital Advisors, Bravo Victor Venture Capital, and KBW Ventures. General David H. Petraeus (US Army, Ret.) also joined as a multi-round investor. In addition to the raise, the company will add Anna Nekoranec, Co-Founder and CEO of Align Private Capital, to Clearspeed's Board of Directors. Nekoranec said, 'Clearspeed has demonstrated true dual-use potential—with scalable commercial results and meaningful impact in high-stakes environments. It's rare to see a solution that can reduce fraud, mitigate security threats, and save significant costs without creating friction for the end user. This is the innovation needed to build smarter, more human-centered systems of trust.' In insurance, Clearspeed consistently yields more than 30X return on investment by assessing risk early in the claims and underwriting process – driving faster, more accurate decisions that improve customer outcomes, including cutting claims handling time in half and increasing immediate payments to customers by 40%. Zurich Insurance—a global multi-line insurer serving 75 million customers across 200+ countries—has significantly accelerated claims payment to customers where they've implemented Clearspeed, allowing them to provide more immediate relief in moments of need. 'We see Clearspeed as a powerful complement to an insurer's multi-layered global risk strategy—offering a streamlined, trust-building experience for customers while helping to make more confident decisions and combat increasingly complex fraud,' said Scott Clayton, Head of Claims Fraud, Zurich Insurance. Government stakeholders increasingly view Clearspeed's commercial success as critical to combating fraud, waste, and abuse—and advancing national security priorities such as countering threat financing, drug testing, personnel vetting, and partner force screening. Agencies using Clearspeed have seen a 95% reduction in vetting cycle time and a 65% drop in investigation costs. 'As security threats evolve, so must the solutions designed to counter them,' said private investor General David H. Petraeus (US Army, Ret.), former CIA Director and Commander of U.S. Central Command. 'Clearspeed's AI-enabled voice analytics delivers outsized value for personnel vetting, insider threat mitigation, and enterprise security—where building trust quickly is paramount.' 'This investment propels Clearspeed into a bold new chapter,' said Alex Martin, Co-Founder and CEO of Clearspeed. 'We're doubling down on the markets where trust and speed matter most—government, defense, insurance, banking—and expanding globally to meet the growing demand for secure, high-integrity screening. We're investing in our teams, accelerating innovation, and ensuring our technology stays ahead—not just to grow, but to help organizations worldwide realize the strategic advantage of rapidly establishing trust.'
Entrepreneur
26-06-2025
- Business
- Entrepreneur
Prince Khaled Backs Major US Risk Assessment Company in Series D Round
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. Prince Khaled bin Alwaleed's KBW Ventures has joined a Series D round of US$60 million for Clearspeed, a San Diego-headquartered global voice-based risk assessment technology provider. The round was led by Align Private Capital, with participation from IronGate Capital Advisors, Bravo Victor Venture Capital in addition to KBW Ventures. It brings the company's total funding to US$110 million. General David H. Petraeus (US Army, Ret.) former CIA Director and Commander of U.S. Central Command, also joined as a multi-round investor. "Clearspeed has demonstrated true dual-use potential—with scalable commercial results and meaningful impact in high-stakes environments," Nekoranec said. It's rare to see a solution that can reduce fraud, mitigate security threats, and save significant costs without creating friction for the end user. This is the innovation needed to build smarter, more human-centered systems of trust." In insurance, Clearspeed consistently yields more than 30X return on investment by assessing risk early in the claims and underwriting process - driving faster, more accurate decisions that improve customer outcomes, including cutting claims handling time in half and increasing immediate payments to customers by 40%. Zurich Insurance—a global multi-line insurer serving 75 million customers across 200+ countries—has significantly accelerated claims payment to customers where they've implemented Clearspeed, allowing them to provide more immediate relief in moments of need. "We see Clearspeed as a powerful complement to an insurer's multi-layered global risk strategy—offering a streamlined, trust-building experience for customers while helping to make more confident decisions and combat increasingly complex fraud," said Scott Clayton, Head of Claims Fraud, Zurich Insurance. The Clearspeed team. Government stakeholders increasingly view Clearspeed's commercial success as critical to combating fraud, waste, and abuse—and advancing national security priorities such as countering threat financing, drug testing, personnel vetting, and partner force screening. Agencies using Clearspeed have seen a 95% reduction in vetting cycle time and a 65% drop in investigation costs. "As security threats evolve, so must the solutions designed to counter them," said General Petraeus (US Army, Ret.). "Clearspeed's AI-enabled voice analytics delivers outsized value for personnel vetting, insider threat mitigation, and enterprise security—where building trust quickly is paramount." "This investment propels Clearspeed into a bold new chapter," said Alex Martin, co-founder and CEO of Clearspeed. "We're doubling down on the markets where trust and speed matter most—government, defense, insurance, banking—and expanding globally to meet the growing demand for secure, high-integrity screening. We're investing in our teams, accelerating innovation, and ensuring our technology stays ahead—not just to grow, but to help organizations worldwide realize the strategic advantage of rapidly establishing trust."
Business Upturn
13-06-2025
- Automotive
- Business Upturn
ICICI Lombard Partners with Clearspeed to Curb Claims Fraud
In a strategic move to tackle insurance fraud in India, ICICI Lombard General Insurance, one of the country's leading private insurers, has announced a partnership with Clearspeed, a global pioneer in voice-based risk assessment technology. The solution is being implemented through Clearspeed's channel partner, Aelius, and is aimed at streamlining fraud detection in insurance claims—starting with motor theft claims. The partnership follows a successful pilot on motor theft cases, a segment that continues to witness a high volume of fraudulent claims in India. The newly adopted solution allows for faster, bias-free, and frictionless processing of genuine claims, improving efficiency and reducing delays for policyholders. Mr. Nazeem Khan, Head – ICLM, Motor Third Party Claims & Litigation at ICICI Lombard, said: 'This partnership with Clearspeed aligns perfectly with ICICI Lombard's fraud prevention model. By integrating Clearspeed's innovative risk assessment approach, we're enhancing our ability to tackle fraudulent claims while ensuring faster settlements for genuine customers.' Unlike traditional methods that rely heavily on documentation and manual verification, Clearspeed's AI-driven voice analytics tool evaluates vocal patterns to identify potential fraud risk, delivering real-time insights that reduce processing time and increase operational confidence. Alex Martin, CEO of Clearspeed, expressed optimism about entering the Indian market with ICICI Lombard: 'We are thrilled to support ICICI Lombard with a proven technology that has delivered up to 50% reduction in claims handling time and a 40% increase in instant settlements for global insurers. We are confident of replicating similar success in India.' The collaboration will initially focus on motor theft claims but is expected to expand to other insurance segments over time, as part of ICICI Lombard's broader digital transformation and customer-centric initiatives. As of March 31, 2025, ICICI Lombard had processed over 3.2 million claims, issued more than 37.6 million policies, and reported a Gross Written Premium of ₹282.58 billion. The company continues to innovate with its AI-powered solutions and has recently enhanced its digital ecosystem through its IL TakeCare app, which features India's first Face Scan for insurance services. This partnership marks another step in ICICI Lombard's journey to strengthen fraud detection, enhance operational agility, and offer seamless experiences to its growing customer base. Ahmedabad Plane Crash
Yahoo
25-03-2025
- Automotive
- Yahoo
1st Central adopts Clearspeed voice-based technology
1st Central, a UK-based insurer, has integrated Clearspeed's voice-based risk assessment technology into its motor claims processes. This is aimed at expediting the settlement of legitimate claims and enhancing fraud detection capabilities. The technology works by inviting customers, through various channels such as online platforms, text messages, emails or call centre transfers, to answer a set of automated 'yes' or 'no' questions over the phone. Clearspeed's proprietary voice technology then analyses the responses, scoring them to identify vocal characteristics that may indicate risk. For cases deemed low risk, the technology allows 1st Central to speed up the claims process, thereby allocating resources to high-risk cases. This triage system supports 1st Central's customer-centric approach, focusing on swift resolution for 'genuine' claims, the release said. The release also highlighted that the technology does not rely on historical data or predictive models. 1st Central counter fraud director Paul Priestley said: 'At 1st Central we have a proactive approach to fraud prevention and the use of this technology reinforces our stances in protecting honest customers. 'We must constantly innovate and reinvent how we work for efficiency and tackle this massive fraud challenge – but without disrupting the customer experience. Clearspeed is delivering really positive outcomes for our customers. We are seeing great benefits internally because we want to efficiently screen as many claims as possible without impacting on genuine customers, and this is an excellent tool to achieve that balance.' Clearspeed CEO Alex Martin stated: 'This partnership with 1st Central demonstrates how our technology can simultaneously improve customer experience and strengthen fraud prevention. 'Clearspeed creates a more efficient process that allows our partner insurers a real opportunity to build trust, better serve their customers, and drive long-term retention and success.' 1st Central intends to broaden the use of Clearspeed's voice risk assessment to other areas including household insurance claims, policy applications, renewals and liability decision-making. In October 2024, RSA Insurance integrated Clearspeed's voice analytics solution to improve fraud detection capabilities. "1st Central adopts Clearspeed voice-based technology " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
