The partnership intends to improve loss control and premium audit survey services, offering their clients quicker and more effective procedures.

The primary objective of the collaboration is to provide Davies access to Majesco's AI-driven Loss Control 360 (LC360) inspection management solution.

By predicting and adapting to shifting risk trends, this cutting-edge technology speeds up survey completion and enhances underwriting judgments, eventually assisting insurers in more efficient risk management.

Davies specializes in providing a wide variety of technology solutions and professional services to highly regulated industries, including financial services and insurance. Its knowledge includes insurance claims, risk management, and more.

Majesco, however, is renowned for offering cutting-edge cloud software that helps insurers adjust to the industry's quick changes, including the introduction of new technologies like artificial intelligence and machine learning.

Through this collaboration, Davies will include Majesco's LC360, an advanced SaaS platform that automates risk inspection surveys with the help of AI and machine learning.

In addition to personalized dashboards, sophisticated risk analysis, and aggregated data to enhance decision-making, the platform provides live video and self-survey features. LC360 is a remarkable tool that can automatically upload and analyze photographs and videos in real-time. It does this by utilizing the largest collection of over 200 million tagged images and 16 million surveys in the world to provide instantaneous suggestions supported by statistics.

Jose Bridges, President of Risk Services at Davies, states that "the current market has placed increasing pressure on insurers to control costs by delivering a high level of customer service and quickly completing surveys to make faster decisions." By include LC360 in our service portfolio, we can collaborate with our customers to create a customized loss control platform that meets their unique business requirements and can be expanded or contracted in response to market developments.

This excitement was expressed by Manish Shah, President and Chief Product Officer of Majesco, who said, "We are happy to partner with Davies, a recognized leader in the risk services industry." We hope that our two firms will have a long-lasting connection, which begins with this alliance.

By working together, these businesses want to rethink risk management for insurers and provide them the power to make choices more quickly and accurately while controlling expenses.

This collaboration exemplifies the continuous trend in the InsurTech industry of utilizing AI and machine learning to boost productivity and improve client results.