Genpact enters strategic partnership with Claim Genius

Global professional services firm Genpact has entered a strategic partnership with Claim Genius, a full-service, AI-based claims solution provider for auto insurance, to improve P&C insurers' claims management.

Insurers' claims operations often involve manual processes and legacy systems, and there’s a lack of integration across carriers and vendors. Firms spend substantial money and resources investigating, processing, and settling auto claims through various manual and automated channels that do not always connect or communicate efficiently. As a result, the process is cumbersome for adjusters and leaves customers dissatisfied.

The partnership will see Genpact integrate its Claims Manager platform with Claim Genius's enhanced AI capabilities. Powered by Genpact Cora, Claims Manager steamlines complexities across the claims process to improve quality of service and allow adjusters and managers to serve customers more effectively and efficiently by combining the latest technologies, data, and advanced analytics.

With the integration, Claims Manager will offer seamless virtual auto inspections, reducing processing time and cost up to 50% and improving adjuster and customer experience.

Commenting on the partnership, Sameer Dewan, global business leader for insurance at Genpact, said: “The insurance industry has been evolving swiftly on the tail of the pandemic to remain agile and competitive in this newly tech-led field; companies need to embrace digital transformation. To better serve customers around the world, insurers can rely on Genpact's advanced claims management offering to drive better experience while being more effective and efficient in the entire claims process.”

Read more: Three ways for insurers to remain resilient through COVID-19

The addition of Claim Genius to the claim service ecosystem also extends the capabilities and depth of innovation that Genpact's Claim Manager offers insurers, including:

• Straight-through processing and low-touch claims handling through remote inspections and automated estimates;
• AI and advanced analytics enabling early identification of severity, subrogation, fraud recognition, and litigation;
• Full claim lifecycle workflow and dynamic operations management enabling service level agreement tracking and monitoring and enforcing compliance;
• Open architecture for ease of integration and connection with client and partner applications, systems, and platforms;
• Increased management visibility and insights into operations; and
• Access to continuing innovations in computer vision and machine learning advances with the Claim Genius partnership.

“Our vision is to make touchless claims a reality, and we want to work with the best in the insurance ecosystem to help solve the many challenges facing the insurance industry,” said Claim Genius founder and CEO Raj Pofale. “Integrating our proven and powerful AI engine with Genpact's Claims Manager will give insurance companies an agile and intelligent system with a significant upside in efficiency and accuracy to enhance the customer experience and claim outcomes. It's a win-win for everyone.”