Claim Genius Raises $6 Million in Series A3 Funding
Claim Genius Raises $6 Million in Series A3 Funding
Claim Genius, a rapidly emerging global InsurTech leader of AI-based claims solutions advancing the automotive industry, announced the closing of its $6 million Series A3 funding round today, following its earlier funding of $7.8M; now totaling $14.8M to-date.

The latest round is backed by a diversified mix of strategic investors including Malaysia-based Financial Link, a pioneer of digital insurance automation services in Asia, and SIRI Info Solutions technology solution provider based in Edison, New Jersey USA.

Claim Genius continues to grow its services globally with live customers in 4 countries. Its AI computer vision technology is sought after throughout the global automotive industry ecosystem, such as insurance companies (use cases: underwriting, FNOL, claims), repair facilities, recycling, salvage, towing, and leasing companies in North America, SE Asia, India, European Union, Australia, South Africa, and South America.

Claim Genius recently launched Version 2.0 of its GeniusCLAIM web and mobile suite which includes many features that enhance its powerful claim assessment capabilities, including improved photo capture workflow, increased damage detection accuracy, and simplified customer onboarding and integration. GeniusCLAIM provides industry-leading functionality and performance in an easy-to-use package, allowing customers to quickly transform their claim operations to decrease cycle time, reduce loss adjustment expense, and increase profitability. The Series A3 funding will help Claim Genius to further scale its sales and development efforts and facilitate the launch of the new products for the auto claims market worldwide.

“We are thrilled to announce the closing of our Series A3 round and expanded partnerships with Financial Link and SIRI Info Solutions”, said Raj Pofale, founder and CEO of Claim Genius. “The auto claims industry is in the midst of a global revolution, driven by advancements digital and mobile technology, artificial intelligence, and machine learning. Claim Genius is leading the charge of this transformation through our advanced product capabilities and growing list of technology and delivery partnerships across the entire claims ecosystem. Today’s funding will further enable us to scale this vision and truly make touchless claims a reality for our customers worldwide,” Raj added.

“Our strategic investment and partnership with Claim Genius is another example of Financial Link bringing innovative and creative solutions that improve the responsiveness, accuracy and efficiency of the claims management process,” said Financial Link’s CEO Cheam Wooi Seong. Financial Link founded in 1994 is a leading insurance technology provider for Malaysia and SE Asia providing its services to over 90% of the General Insurance Industry and major automotive distributors and franchisees. With Claim Genius, Financial Link will have the capability to provide a more complete suite to the insurance industry in South East Asia, from instant vehicle damage assessment to submission of claims to insurance companies and roadside assistance support services.

Source: EIN Presswire

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