Targeting 60 percent reduction in insurer claims costs
ATLANTA and WOODBRIDGE TOWNSHIP, N.J., Sept. 13, 2018 (GLOBE NEWSWIRE) -- Crawford & Company®, the world’s largest publicly listed independent provider of claims management solutions to insurance and self-insured companies, and ClaimGenius, a highly sophisticated Artificial Intelligence (AI) and Image analytics company committed to simplifying the complex claim management process, are collaborating on AI Mobility solutions that will improve the processing speed and accuracy of automobile insurance claims. The solution will integrate Crawford’s state-of-the-art service WeGoLook and ClaimGenius’ AI predictive image analytics product to provide virtually instant damage analysis and claim estimates, streamlining claim workflows, improving cycle time, reducing associated processing costs and resulting in higher customer satisfaction.
The integrated workflow solution will launch in August for Crawford’s global clients in North American countries and will drive efficiencies, speed, and accuracy and productivity improvements for the automobile insurance services sector. Once the service is implemented, clients will be able to get an instant estimate for repair of the damaged vehicle by utilizing the initial photographs of the accident vehicles. This claim information can immediately be incorporated into the insurer's claim management platform utilizing Crawford’s core claim management products.
“Our partnership with ClaimGenius is another example of Crawford bringing innovative and creative solutions that improve the responsiveness, accuracy and efficiency of the claims management process,” said Harsha V. Agadi, Crawford’s President and CEO. “This solution, which combines the unique insights and talents of both companies, is based on a cloud-based AI Image analytics mobile platform. Our goal is to simplify and automate claims management workflows, which will reduce insurer claims costs by up to 60%.”
“We are extremely excited about this opportunity to collaborate with Crawford in this endeavor. This opens up a global market opportunity for us. Crawford and ClaimGenius share a vision and passion for bringing innovation and improvement to the claim management arena,” said Raj Pofale, founder and CEO at ClaimGenius.
The integration of Crawford’s WeGoLook mobility platform with ClaimGenius is the latest operational milestone and evidence of WGL’s open-platform strategy.
Based in Atlanta, Crawford & Company (NYSE: CRD‐A and CRD‐B) is the world’s largest publicly listed independent provider of claims management solutions to insurance companies and self‐insured entities with an expansive global network serving clients in more than 70 countries. The Company’s two classes of stock are substantially identical, except with respect to voting rights and the Company’s ability to pay greater cash dividends on the non-voting Class A Common Stock (CRD-A) than on the voting Class B Common Stock (CRD-B), subject to certain limitations. In addition, with respect to mergers or similar transactions, holders of CRD-A must receive the same type and amount of consideration as holders of CRD-B, unless different consideration is approved by the holders of 75 percent of CRD-A, voting as a class. More information is available at www.crawco.com.
ClaimGenius is an Artificial Intelligence (AI) technology startup company with a niche in image & predictive analytics. ClaimGenius’s patent pending technology is bringing forth a new comprehensive automated approach for automobile insurers to handle and manage the automobile claims process. This comprehensive automated application facilitates the carrier receiving the 1st notice of loss, instant vehicle damage appraisal, instantly provides information to determine repair versus total loss, provides a predictive salvage value and effectively establishes an insurer early tow program. ClaimGenius’s white labelled mobile app & image processing & deep machine learning technological innovation is designed to reduce cycle time, human intervention in the claims process, reduce claim operational costs; thus ultimately transforming the current claims handling process into a more efficient, time sensitive and customer friendly process. ClaimGenius’s vision is to make “Touchless Claims a Reality.”
ClaimGenius’s Image Analyzer APP is an insurance industry game changer. It helps reduce operational cost, simplifies the claim process and improves the claim experience for consumers, adjusters and recyclers. We are committed to leading the industry in creating innovative technology for insurance companies, the auto recycling industry and other business partners involved in the automobile insurance claims process. For more information about ClaimGenius please visit www.claimgenius.com.
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