Led · Series A · Oct 2021

Claim Genius is a rapidly emerging global InsurTech leader offering AI-based claims solutions for the automotive industry. Its patent-pending AI image analysis and predictive analytics generate instant damage assessments, condition reports, and damage estimates from uploaded videos. The product is designed to reduce claims processing time, improve insurer profitability, and enhance the customer claims experience. Claim Genius is based in Iselin, New Jersey, with development centers in Nagpur and Hyderabad, India. Financially, the company has raised $14.8M to date following a $6.0M Series A3 in October 2021 after earlier funding of $7.8M. The Series A3 proceeds will be used to scale sales and development efforts and to facilitate the launch of new products for the auto claims market worldwide. Claim Genius builds AI- and computer-vision-based solutions that analyze accident photos to generate instant damage estimates and speed claims processing for insurers. The company offers a web and mobile suite (GeniusCLAIM) and recently launched Version 3.0 with improved photo capture workflow, higher damage-detection accuracy, and simplified onboarding and integration. Claim Genius says its patent-pending image analysis and predictive analytics tools are integrated or piloted by over 15 customers across the US, Canada, Southeast Asia, India and the EU. It operates development centers in Nagpur and Hyderabad and has multiple integration projects underway with insurance carriers, third-party loss adjusters, repair shop networks and auto leasing firms. Led by founder and CEO Raj Pofale and based in Iselin, N.J., the company intends to use new funding to scale sales and development and to facilitate the launch of new products for the global auto-claims market. The article does not disclose revenue or other financial operating metrics.