Claros Analytics

What Claros Analytics does

Claros Analytics is a US-based actuarial software firm headquartered in Princeton, New Jersey, founded in 2015 (rebranded from Windsor Strategy Solutions). The company develops a cloud-based healthcare analytics platform whose defining element is a probability-driven rating manual and actuarial engine, built on proprietary claims curves rather than traditional rating methods. The platform is delivered through a web-based portal hosted on Azure infrastructure (claros-prod.azurewebsites.net) and includes modules for plan design modeling, self-funded feasibility analysis, budgeting and enrollment forecasting, automated IBNR reserving, and a probability-driven rating manual, alongside a Health Benefits Consulting Suite (Actuarial Assistant, ClarosReserve, Experience & Migration Predictive, Risk Decision, Actuarial Advisor) and the ClarosPlan health plan design component.

The product is sold as licensed B2B SaaS on a quote-based, subscription model typically structured as multi-year enterprise contracts. Claros targets three primary buyer segments: benefits advisors (consultants and brokers) who need carrier-grade insights to advise plan sponsors; plan service providers such as Third Party Administrators (TPAs) and plan administrators; and risk takers — stop loss carriers, underwriters, reinsurers, Managing General Underwriters (MGUs), captives, and health plans that assume financial risk in employer health plans. The company states that it serves 8 of the top 10 national brokerages, alongside independent brokerages, TPAs, health plans, and reinsurers nationwide, with operations confined to the United States.

The go-to-market is direct enterprise sales with a small inside sales function handling inbound demo requests, supported by content marketing (blog, LinkedIn, resources library), and a dedicated customer experience function. Leadership is founder/actuary-led: President and CEO Todd Owen, CTO James Southward, Chief Revenue Officer Dan Wolsk, Senior Actuary Gary Miller (ASA, MAAA, 30+ years tenure), Senior Actuary Timothy K. Robinson (FSA, MAAA, architect of the actuarial engine), with a strategic affiliation to Windsor Strategy Partners through Chairman W. James Tillett. No external funding rounds, acquisitions, or public-company status are disclosed in the available data.

Name

Claros Analytics

Legal name

Claros Analytics

Website

https://clarosanalytics.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

Claros Analytics is a Princeton, NJ-based actuarial software firm that sells a cloud-based, probability-driven analytics platform for pricing, modeling, and reserving self-funded and fully insured health plans, serving benefits advisors, TPAs, stop loss carriers, underwriters, and reinsurers.

Ownership category

akta.pro rank

Product category

Healthcare Actuarial Software

NAICS

Software Publishers (513210)

SIC

Services-Prepackaged Software (7372), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS) (FSAGAGAB)

Keywords

• Actuarial software
• Health benefits analytics
• Risk pricing software
• Medical underwriting tools
• Self-funded plan modeling

Headquarters

HQ city

Princeton

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations

Revenue model

1. SaaS Subscription Licenses: Web-based healthcare analytics platform offered as licensed software applications. Clients include stop loss carriers, underwriters, reinsurers, benefits consultants and advisors, plan administrators and plan sponsors. Software is delivered through web portal requiring login credentials.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Claros Analytics sells a cloud-based Health Benefits Consulting Suite of actuarial software that helps benefits advisors, TPAs, health plans, and risk-takers price risk, model health plan design changes, evaluate self-funded feasibility, perform automated IBNR reserving, and forecast budgets and enrollment. The platform is anchored by a proprietary, probability-driven Rating Manual and a next-generation Actuarial Advisor engine built on probability claims curves, delivered via authenticated Azure-hosted web applications under multi-year subscription licenses.

Product overview

Claros Analytics offers a unified Health Benefits Consulting Suite of actuarial software applications. The core offering consists of five main modules: Plan Design Modeling, Self-Funded Feasibility Analysis, Budgeting and Enrollment, IBNR Reserving, and Rating Manual. The portal-based Health Benefits Consulting Suite includes Actuarial Assistant, ClarosReserve, Experience & Migration Predictive, Risk Decision, and Actuarial Advisor. The products work together to enable benefits consultants, TPAs, carriers, and plan sponsors to price risk, model health plan changes, evaluate self-funding opportunities, and budget self-funded plan costs using predictive algorithms and probability-driven claims curves.

Differentiator

Problem solved

Functional benefit

Brands

• ClarosPlan: Health plan design module including actuarial value calculator for modeling plan cost sharing changes and claims projections.
• ClarosReserve
• Actuarial Advisor
• Actuarial Assistant
• Experience & Migration Predictive
• Risk Decision

Products and services

• Plan Design Modeling Plan Design Modeling assesses the impact of plan cost-sharing changes on both plan sponsors and employees to find the right balance for each group, supported by actuarial value calculation and claims projections. It is targeted at benefits advisors, TPAs, carriers, and plan sponsors designing or modifying employer health plans.
• Self-Funded Feasibility Analysis Self-Funded Feasibility Analysis compares fully insured vs. self-funded vs. level-funded plan structures and runs stop-loss scenario evaluation to determine the optimal structure based on each group's financial situation and risk tolerance. It is used by benefits advisors, TPAs, and risk-takers evaluating self-funded opportunities.
• Budgeting and Enrollment Budgeting and Enrollment is a forecasting tool for claims, budgeting, and enrollment projections that helps plan sponsors and advisors manage self-funded plan costs and project future healthcare expense.
• IBNR Reserving (ClarosReserve) IBNR Reserving, branded as ClarosReserve, provides automated calculation of Incurred But Not Reported reserves for future claim payments of self-funded groups, targeting TPAs and self-funded plan administrators.
• Probability-Driven Rating Manual The Probability-Driven Rating Manual is Claros's flagship rating manual, built on probability claims curves over a rich proprietary dataset to produce precision and flexibility in pricing risk for health benefits. It is used by carriers, underwriters, MGUs, captives, reinsurers, and benefits advisors to price health plan risk.
• Actuarial Advisor Actuarial Advisor is Claros's standalone next-generation actuarial engine that powers pricing and risk modeling for carriers and underwriters, built on the probability-driven model created by Senior Actuary Timothy K. Robinson.
• Health Benefits Consulting Suite (Web Portal) The Health Benefits Consulting Suite is Claros's authenticated web portal (claros-prod.azurewebsites.net) that bundles Actuarial Assistant, ClarosReserve, Experience & Migration Predictive, and Risk Decision into a unified actuarial SaaS environment for benefits consultants, TPAs, carriers, and underwriters.

Quantifiable outcome

• Predictions maintain highest levels of accuracy over multiple years
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature9 records

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Emerging players

• Benefitfocus: Benefitfocus offers a benefits-administration platform with analytics for plan design, enrollment, and reporting. It overlaps with Claros on plan-sponsor and broker workflows, though it is broader and administration-led rather than actuarial-led.
• PlanSource: PlanSource is a benefits marketplace and administration platform used by employers and brokers. It provides decision-support and plan-comparison tooling that intersects with Claros's plan-design and feasibility workflows, primarily at smaller and mid-market employers.
• Cotiviti: Cotiviti provides payment-accuracy and analytics platforms to health plans and TPAs, with overlap in claims-based analytics and risk modeling. It is a partial competitor in the data-and-analytics layer beneath self-funded plan operations.

Broad incumbents

• Mercer (Marsh McLennan): Mercer is a major health benefits and actuarial consulting firm that advises large employers and brokers on plan design, funding, and stop loss strategy. It overlaps with Claros in the benefits-advisor and plan-sponsor segments, typically as part of a broader consulting engagement.
• Willis Towers Watson (WTW): WTW provides benefits and actuarial consulting, including software and analytics for self-funded plan design, valuation, and benefit benchmarking. It competes with Claros primarily through bundled consulting relationships with large employers and benefits advisors.
• Oliver Wyman: Oliver Wyman's Health & Life Sciences practice provides actuarial and consulting services to health plans, reinsurers, and regulators. It is an incumbent alternative for the risk-taker buyer segment that Claros serves (carriers, MGUs, reinsurers).
• EY-Parthenon (Health): EY's health practice includes actuarial and analytics services for payers, providers, and benefits advisors. It competes for the same risk-taker and plan-sponsor budget pools that Claros targets, typically via larger consulting programs.
• Deloitte (Human Capital / Health): Deloitte's health and benefits actuarial teams serve large employers, insurers, and TPAs with plan design, funding, and analytics engagements, often as part of multi-workstream consulting relationships that compete with standalone analytics tools like Claros.

Direct peers

• Wakely Consulting Group: Wakely is an actuarial consulting firm specializing in health insurance, ACA, and self-funded plan pricing and reserving. It sells both advisory services and analytic tools to carriers, MGUs, and TPAs that overlap directly with Claros's risk-taker and plan-operator segments.
• Milliman: Milliman operates MedInsight and a suite of actuarial analytics used by health plans, TPAs, and self-funded plan sponsors for rating, reserving, and risk modeling — the same workflows Claros targets. It is the most direct enterprise competitor in US health benefits actuarial software.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/claros-analytics
• Xx.com/clarosanalytics

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Claros Analytics