Claim Genius overview

Claim Genius has developed an AI-powered, patent-pending auto claims management platform. Its 'Genius Suite' uses image analysis and predictive analytics to provide damage estimates within 15 seconds.

The mobile and cloud-based claims management solution can be integrated within an insurer's app and workflow via an API. When a customer is involved in a motor incident, the driver is guided through taking photos of the vehicle before submitting the claim for processing. The AI then proceeds to identify the position of the car, as well as the severity of the damage that has been caused, and compares this to other claims. From here, it provides total loss and repair estimates, as well as a list of predicted parts required for repair. In the future, Claim Genius has stated it plans to integrate telematics data to help further improve the accuracy of its AI's predictions.

Insurance carriers can elect to automatically settle claims of a customisable low severity level, enabling the claimant to receive payment in minutes. In other cases, the carriers can see the photos and predictions, and can choose to approve, reject or escalate the claim.

The startup also offers automated vehicle pre-inspections, which enables insurers to decide upon the insurability of new vehicles.

Claim Genius raised $2.2m in Seed funding in May 2018, although investors were not disclosed.

In July 2019, Claim Genius launched Claim Genius 2.0, which offers full-range damage detection, enhanced position detection and 90% estimate accuracy with 50% cost reductions.

In 2020, Claim Genius plan to launch GeniusSalvage and Genius Recycle, which enables salvage and recycling firms to provide instant bids to carriers for parts. Also launching in 2020 is GeniusLease, an inspection tool for leasing and rental companies.

In July 2020 Claim Genius raised a $5.5m Series A round. The startup stated it planned to use the funds to scale development and launch new products.

Based in New Jersey, US, Claim Genius also has development and innovation centres in Nagpur and Hyderabad, India.

Map showing the location of Claim Genius

Iselin, United States

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Key people

Raj Pofale Founder & CEO
Hemant Joshi CTO
Sanjiv Sahni CFO
Michael MacDonald COO