Claim Genius
Claim Genius offers AI-infused automated inspections for claims and underwriting, featuring GeniusAI technology for damage estimation and a suite of products under the GeniusINSPECT brand.
Company Overview
Claim Genius is a technology company headquartered in Edison, New Jersey, that specializes in AI-infused automated inspections for claims and underwriting. The company operates development centers in Pune, Nagpur, and Hyderabad, and has offices in New Jersey, Amsterdam, Nagpur, Hyderabad, and Pune. Claim Genius offers a range of products under the GeniusINSPECT brand, leveraging advanced AI technology known as GeniusAI to provide damage estimation with over 95% vehicle coverage.
Products and Technology
Claim Genius provides a suite of products under the GeniusINSPECT brand, including AI-powered tools for the insurance sector. The company's white-labeled app allows users to capture images and videos of damaged vehicles, which can then be assessed using GeniusAI technology. The company also offers an intuitive dashboard for reviewing, adjusting, modifying, and approving estimates. Claim Genius' technology supports over 200 internal and external vehicle parts, providing 85% accuracy in repair/replace decisions and reducing time and cost by 50%.
Key Features
Claim Genius offers several advanced features to improve the efficiency of the claims process. The company's solutions enhance photo and video capabilities by 75%, reduce settlement time by 50%, and support automated vehicle photo validation for fraud detection. Additionally, Claim Genius provides global support with versions for North America, EU, LATAM, and Asia available in local languages. The platform integrates with major global estimations and data providers, including Mitchell, GT Motive, Schwake, Merimen, and Boodmo.
Market and Partnerships
Claim Genius caters to the insurance, lease and rental, transportation, salvage, and recycling sectors. The company partners with recognized names such as Repairify, Mitchell, CT Services, Unit S.A., and Genpact. These collaborations help extend Claim Genius' reach and capabilities. The company’s solutions are available on a subscription or pay-as-you-go model, processing over 100 million images to date and offering instant total loss prediction in less than 3 minutes.
Funding and Recognition
Claim Genius raised $5.5 million in Series A funding to support its growth and development. The company has been recognized by Insurance CIO Outlook and IBT's Top AI Startups and Scale-ups in 2021. Claim Genius participates in notable industry events such as Connected Insurance USA and InsureTech Connect, further establishing its reputation in the insurtech space.