(Image source: Claim Genius homepage.)
Majesco (Morristown, N.J.), a global provider of cloud insurance platform software for the insurance industry, has announced the expansion of two new partnerships and apps in the Majesco EcoExchange, a curated live, plug-n-play ecosystem and service hub of the Majesco Digital1st Insurance platform. Majesco says the new apps will provide innovative claims capabilities for insurers to accelerate their business transformation and address the increasing demand for digital claims, which has risen as a result of COVID.
“Majesco EcoExchange is a next-generation marketplace of partners apps designed to help the insurance industry meet the demands of today’s digital customer,” says Manish Shah, President and Chief Product Officer, Majesco. “Claims has risen in priority for digital transformation which Digital1st and the partner marketplace can rapidly respond to. We’re proud to work with a growing list of partners to bring today’s most innovative apps to the Majesco EcoExchange and provide customers with access to the innovative technology that can transform their business and better serve customers and agents.”
Majesco’s EcoExchange has a variety of apps available to enable all aspects of the insurance value chain, ranging from a non-interactive service call to a comprehensive solution that can orchestrate multiple provider services. Majesco has recently executed partnership agreements with ClaimGenius and Livegenic.
Based in Iselin, New Jersey, with development centers in Nagpur and Hyderabad, Majesco describes Claim Genius, Inc. as a rapidly emerging leader of AI-based claims solutions for the auto insurance industry. “Its patent-pending AI technology provides the industry’s fastest and most accurate damage estimates, using the latest high-performance cloud frameworks,” Majesco’s statement says. “Their unique and powerful Computer Vision AI stack uses sophisticated object detection and image analysis algorithms to instantly identify vehicle damage, position, severity, and lists of damaged parts, including hidden damage deep inside the vehicle.” Majesco characterizes this technology is critical to allowing the company to make decisions right away and get their customer back to pre-loss condition as quickly as possible. “Compared to traditional methods of inspections, its technology can save customers both time and money,” the vendor says.
“We understand how critical technology has become to consumers in the auto industry which is why we’re continuing to partner with companies like Majesco who are forward-thinking, market driven and committed to providing the best-in-class experience to meet customer expectations,” says Raj Pofale, Founder and CEO, Claims Genius. “We’re proud to join Majesco’s EcoExchange and share our AI technology that helps customers reduce claims processing time, increases carrier profitability, and revolutionizes the claims experience for insurance customers worldwide.”
Livegenic, a Claim Central Consolidated Company (Sydney), is a virtual collaboration platform for insurance. The vendor provides carriers, TPAs, and other insurance organizations with a comprehensive suite of mobile and browser-based solutions that enable them to virtually inspect claims at any time, and in any environment, according to Majesco. Livegenic’s mobile platform offers a wide variety of inspection tools, each designed to support specific workflows and use cases, including real-time video streaming, asynchronous customer self-service, and professional on-site inspection.
“We’re thrilled to join Majesco’s EcoExchange marketplace, it will enable our clients and partners to easily integrate the Majesco platform with the service suite provided by the Claim Central Ecosystem—including the full Livegenic mobile and web platform, the ClaimLogik Plus platform, and the TradesPlus network.” comments Olek Shestakov, CEO, Livegenic. “We’re eager to help carriers across the globe deliver world-class solutions to their customers, clients and insureds.”