Majesco, a provider of cloud-native, AI-driven software for the insurance industry, has announced a partnership with PropertyLens to integrate its property and hazard data into Majesco’s Loss Control platform, aiming to provide insurers and loss control inspectors with real-time insights for risk assessment and underwriting decisions.
PropertyLens, which specializes in delivering real-time real estate data and risk insights to address information gaps for buyers and sellers, will now supply its comprehensive property and hazard datasets directly to Majesco’s platform. This integration will offer property underwriters and loss control inspectors access to accurate structure details, historical data, and risk indicators. The outcome is expected to be more complete loss control inspection reports, improved risk assessment, faster quoting processes, and better-informed underwriting, all within a unified operational environment.
Bob Frady, CEO of PropertyLens, commented on the collaboration, stating, “Partnering with Majesco brings our capabilities directly to the point of decision-making helping carriers and inspectors unlock insights at the exact moment they need them – delivering faster, stronger results for their customers.”
Majesco continues to develop its innovation capabilities with the integration of PropertyLens into Majesco Property Intelligence, an AI-based SaaS solution designed to deliver rapid, AI-powered property surveys for insurers. This platform combines data from aerial and satellite imagery, street-level views, public records, licensed datasets, natural catastrophe information, and Majesco’s proprietary repository of risk reports. It then generates comprehensive property profiles within minutes, detailing assessments of land, structures, roofs, known hazards, prior claims, and permits, allowing insurers to make informed decisions without the delays or costs typically associated with traditional site surveys.
Leveraging advanced AI, including image processing and natural language models, Majesco Property Intelligence converts raw data into actionable insights at scale. Its design prioritizes affordability and speed, making it suitable for assessing large property portfolios, particularly when on-site surveys are impractical. The platform aims to provide impartial, data-rich reports that assist insurers in streamlining workflows, reducing uncertainty, and responding efficiently to market demands while maintaining accuracy and reliability.
Together, PropertyLens and Majesco are working to modify how the industry utilizes data by eliminating data silos, providing access to real-time information, reducing manual processes, and fostering a more cohesive data ecosystem. This integration seeks to empower carriers and inspectors with deeper insights and enable them to respond more quickly to customer needs, evolving risks, regulatory changes, and market opportunities.
Manish Shah, President and Chief Product Officer at Majesco, emphasized the value of the partnership, stating, “Integration of PropertyLens extensive data and powerful property intelligence with our Loss Control platform, empowers our customers – insurers, MGAs, risk engineering firms, and reinsurers, the ability to simplify risk complexity, accelerate risk assessment processes, enhance underwriting, and deliver exceptional experiences.” He added that the partnership strengthens Majesco’s mission to transform the insurance industry through relevant innovation.
