Swiss Re is partnering with Claim Genius, an insurtech that provides artificial intelligence (AI) insurance claims solutions to improve auto claims efficiency with real-time damage assessment and estimation.
“Swiss Re Solutions aims to provide leading claims management capabilities to its ceding clients, helping them reduce settlement times and costs, while making the post-accident process fast, fair and frictionless for claimants. consumers, ”commented Swiss Re’s Global Head of P&C, Pranav Pasricha.
“Our partnership with Claims Genius helps unlock our global data and technology assets to deliver industry-leading accuracy and speed in auto claims damage assessments,” Pasricha added.
“Insurers will be able to use our ‘Smart Claims’ platform to transform their claims process into a 100% automated photo-based damage assessment, providing reliable loss estimates within minutes with improved admission, triage, rater productivity and variability of regulations. , “he said. (Editor’s note: FNOL is the” first loss notification. “)
By adopting computer vision and AI technology, the insurance industry “sees huge benefits in terms of efficiency and cost savings,” said Raj Pofale, Founder and CEO of Iselin, Claim Genius, based in NJ.
Pofale said analysis of Claim Genius’ image and video database enables “end-to-end automation for engine claims.”
On its website, Claim Genius said it aims to provide contactless claims for carriers, which can provide instant damage estimates and prompt processing of claims. The company aims to “reduce claims processing time, increase carrier profitability and revolutionize the claims experience.”
“Our vision is to make contactless claims a reality and our customers around the world are very excited to see that our technology enables… 100% digitization of their claims process,” said Pofale. “I am delighted to see that Swiss Re believes in our technology and [is] bringing it to all their European customers.
About Claim Genius
Claim Genius Inc.’s patent-pending artificial intelligence image analysis and predictive analytics provide instantaneous damage assessment, condition and estimation from uploaded videos or photos through its technology. easy to use mobile application. Claim Genius’s mission is to reduce claims processing time, increase business profitability and revolutionize the claims experience for customers around the world. In addition to its head office in Iselin, NJ, the company also has development centers in Nagpur and Hyderabad, India, and an office in the United Kingdom.
Source: Claim the genius
Mergers and Claims InsurTech Tech Swiss Re Data Driven
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