Davies partners with software company

Davies is partnering with Majesco, which offers cloud insurance software solutions, to provide faster and more efficient loss control and premium audit surveys for clients.

The partnership will see Davies implement Majesco’s AI-driven Loss Control 360 (LC360) inspection management system, which according to the companies is able to accurately predict and adapt to evolving risk trends, enabling faster survey completions and underwriting decisions.

The Loss Control Survey Management SaaS platform leverages AI and machine learning to automate the management of risk inspection surveys and includes live video and self-survey capabilities as well as customized dashboards, enhanced risk analysis and data consolidation.  

Using real-time photo and video analysis, images are automatically uploaded to the platform, where they are labelled and hazards detected. The platform has access to the world’s largest repository of survey data, including over 16M surveys and over 200M tagged photos of specific risks to enable the generation of immediate recommendations for an accurate decision to be made.

Jose Bridges, president of Davies’ Risk Services, explains: “The current market has placed increasing pressure on insurers to control costs by completing surveys quickly to make faster decisions, while also delivering a high level of customer service. Adding LC360 to our service offering means we can work with our clients to develop a bespoke loss control platform specific to their business needs, which can also be adapted and scaled according to market changes.”

Manish Shah, president and chief product officer at Majesco, said: “We are pleased to partner with Davies, a recognized leader in the risk services industry. This partnership marks the beginning of what we hope will be a longstanding relationship between our two companies.”

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