The company uses its patent-pending image analysis and predictive analytics tools to help carriers provide instant damage estimates and rapid processing of claims based on uploaded accident photos from its mobile app
Fremont, CA: World leader in instant vehicle damage assessment solutions using computer vision and artificial intelligence technology, Claim Genius, secured USD 5.5 million in a Series A funding round backed by Malaysia-based Financial Link and SIRI Info Solutions, a global technology solution provider based in Edison, New Jersey. The proceeds from the investment round will be used by the company to scale its sales and development efforts further and facilitate the launch of the new products for the auto claims market worldwide.
"We are thrilled to announce the closing of our Series A round and fantastic new partnerships with Financial Link and SIRI Info Solutions," said Raj Pofale, founder and CEO of Claim Genius. "The auto claims industry is in the midst of a global revolution, driven by advancements digital and mobile technology, artificial intelligence, and machine learning. Claim Genius is leading the charge of this transformation through our advanced product capabilities and growing list of technology and delivery partnerships across the entire claims ecosystem. Today's funding will further enable us to scale this vision and truly make touchless claims a reality for our customers worldwide."
Founded by CEO Raj Pofale, Claim Genius is a leader of AI-based claims solutions for the auto insurance industry. The company uses its patent-pending image analysis and predictive analytics tools to help carriers provide instant damage estimates and rapid processing of claims based on uploaded accident photos from its mobile app. Claim Genius has development centers in Nagpur and Hyderabad. It aims for global expansion with multiple integration projects underway for top insurance carriers, third party loss adjusters, repair shop networks, and auto leasing firms. Over 15 customers have piloted the company's AI solutions across the US, Canada, SE Asia, India, and the European Union.
Claim Genius recently launched Version 3.0 of its GeniusCLAIM web and mobile suite, which includes many features that enhance its powerful claim assessment capabilities, including improved photo capture workflow, increased damage detection accuracy, and simplified customer onboarding and integration. "Our strategic investment and partnership with Claim Genius is another example of Financial Link bringing innovative and creative solutions that improve the responsiveness, accuracy and efficiency of the claims management process," said Cheam Wooi Seong, CEO of Financial Link.