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Business Standard
5 minutes ago
- Business Standard
India's CamCom Technologies Announces Strategic Partnership with ERGO Group AG in Landmark Global AI Deployment for Insurance Sector
NewsVoir Bengaluru (Karnataka) [India], August 2: In a major milestone for India's deep-tech ecosystem, CamCom Technologies, an award-winning, industry-agnostic computer vision company headquartered in Bengaluru, has entered into a strategic partnership with ERGO Group AG, one of Europe's leading insurance groups. Under this collaboration, CamCom will serve as the primary technology partner for ERGO's AI-powered visual inspection solution, which is now being rolled out across multiple European markets. The partnership signals CamCom's growing global footprint and affirms its position as a world-class platform delivering enterprise-ready AI solutions for critical sectors. The solution is already live in Estonia, Latvia, and Lithuania, with phased rollouts planned across other ERGO markets in Europe. CamCom's proprietary Large Vision Model (LVM) -- the world's first domain-specific AI engine for defect and damage detection on surfaces -- is trained on a dataset of over 450 million customer-validated images. It allows insurance customers to capture and upload images of vehicles or properties via their smartphones, enabling accurate, auditable, and scalable pre-inspection and damage assessments. This reduces subjectivity, improves efficiency, and enhances transparency for both insurers and customers. "We are proud to be ERGO's trusted technology partner," said Geetha Sham, Director and President - Europe, CamCom Technologies. "This partnership marks a milestone in our global journey and reinforces our commitment to delivering scalable, high-performance AI solutions that are tailored to the specific needs of the insurance sector." "Good technology is not just innovative -- it must be practical, scalable, and intuitive," said Mark Klein, Chief Digital Officer and Member of the Board of Management, ERGO Group AG. "CamCom's AI solution meets all these criteria, and we're excited to expand this collaboration beyond India and into our European markets, where we operate in motor and homeowners' insurance classes. Together, we aim to simplify and digitize insurance experiences for our customers' workflows, helping validate the platform's robustness, accuracy, and scale in real-world applications. The partnership with ERGO Group AG signals the success and maturity of this collaboration", he added. Parthanil Ghosh, Executive Director, HDFC ERGO General Insurance Company Limited, commented "Our long-standing partnership with CamCom has brought measurable improvements to our automotive claims and underwriting operations. Their AI-driven inspection solutions have enhanced efficiency, accuracy, and customer experience -- we are pleased to see this proven technology now supporting ERGO Group's global initiatives." Ajith Nayar, CEO of CamCom Technologies said, "CamCom as an industry-agnostic computer vision platform, we have built world-class solutions that are not only accurate and scalable, but also trusted by global enterprises and Governments. With the onboarding of an esteemed brand like ERGO Group AG, we are expanding our global footprint and reaffirming our commitment to delivering AI innovation that drives real-world impact from India." CamCom's platform is currently deployed by over 15 insurance companies across globally. The platform complies with region-specific regulations, including GDPR in Europe and IRDAI guidelines in India -- enabling secure, compliant, and efficient integration across geographies. This partnership is also aligned with ERGO's broader ambition to be the digital leader in insurance by 2025 and reflects the group's continued investment in innovative technologies through platforms like the ERGO ScaleHub in Dusseldorf. *Subject to IRDAI approvals CamCom, an award-winning, industry-agnostic Computer Vision (CV) platform, is revolutionising defect and damage assessment on all surfaces. They are pioneers in leveraging Artificial Intelligence (AI) and associated technologies in the visual inspection process. CamCom's expertise lies in assessing micro-defects during production and macro-damages in the aftermarket, which is often subjective and inconsistent. The impactful CamCom AI solutions increase efficiency, prevent defective product seepage, and offer non-linear scalability. Their track record includes successful implementations in various industries across the globe, demonstrating their capabilities and reliability. For more information, please visit: ERGO is one of the largest insurance groups in Germany and Europe. The Group is represented in over 20 countries worldwide, with a focus on Europe and Asia. ERGO offers an extensive product portfolio for private and corporate clients in every key insurance category, as well as end-to-end support and services. Three separate units operating under the umbrella of ERGO Group AG - ERGO Deutschland AG, ERGO International AG, and ERGO Technology & Services Management AG - manage the ERGO Group's businesses and activities. The German and international businesses as well as global management of IT and technology services are organised in these units. Around 37,000 people work for the Group, either as salaried employees or as full-time, independent agents. In the 2024 financial year, ERGO generated insurance revenue of EUR20.8bn and a result of EUR810m. ERGO is part of Munich Re, one of the world's leading reinsurers and risk carriers. You can find more information at HDFC ERGO General Insurance Company Limited, one of the leading private sector general insurance companies of India, whose promoters are HDFC Bank Limited, one of India's leading private sector banks, and ERGO International AG, the primary insurance entity of Munich Re Group. A digital-first company, transforming into an AI-first company, HDFC ERGO is a leader in implementing technology to offer customers the best-in-class service experience. HDFC ERGO offers a complete range of General Insurance products including Health, Motor, Home, Agriculture, Travel, Credit, Cyber and Personal Accident in the retail space along with Property, Marine, Engineering, Marine Cargo, Group Health and Liability Insurance in the corporate space. Be it unique insurance products, integrated customer service models, top-in-class claim processes or a host of technologically innovative solutions, HDFC ERGO has been able to delight its customers at every touchpoint and milestone. The Company has created a stream of innovative & new products as well as services using technologies like Artificial Intelligence (AI), Machine Learning (ML), Natural Processing Language (NLP), and Robotics. HDFC ERGO offers a range of general insurance products and has a completely digital sales process with 299 branches and 600+ digital offices across India. HDFC ERGO's technology platform has empowered the customers to avail services digitally on a 24x7 basis, with 70%+ claims for retail products intimated digitally and over 80% of service interactions are catered digitally of which 10% are AI led. The Company issued ~3.4 crore policies in FY25 and has one of the best claims payout ratios in the General Insurance industry. Please log on to or stay connected on the following social media handles to get more information on HDFC ERGO and the products and services offered by the company. This media information contains forward-looking statements that are based on current assumptions and forecasts of the management of CamCom Technologies, the ERGO Group and HDFC ERGO General Insurance. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and actual developments, in particular the results, financial situation and performance of the Companies. The company assumes no liability to update these forward-looking statements, or to adjust them to future events or developments.
News18
14 minutes ago
- News18
Record Spike in Digital ITR Filing: TaxBuddy App Emerges as Top Choice in 2025
The surge in app-based tax filing shows India's growing shift toward gaining greater access to AI-enabled compliance solutions as the ITR deadline approaches in July. India's July 2025 income tax filing season is undergoing a grand digital transformation. Up to mid-July, over 4.3 crores of taxpayers reported their IITRs online so far, up 17% from the comparable period a year ago. But beyond statistics is a larger story: Indians now prefer do-it-yourself filing tools more than ever, relying on technology more than on traditional help to navigate their taxable responsibility. And in this ever-evolving field, the TaxBuddy app is emerging as one of the top filing apps for DIY filing, which is applauded for making it easy, smart, and much less stressful. The New Age of Tax Compliance in India ITR filing was also long thought of as a time-consuming paper-intensive job—something most people avoided or outsourced to accountants. But in recent years, particularly in 2025, that thinking has been changing very rapidly. The government's push for digital compliance—basic ITR forms, linkage of Aadhaar with PAN, and AI-driven reconciliation tools—has paved the way. But change is happening at the user level. Larger numbers now prefer to do taxes from their laptops or even telephones, themselves, without coming back and forth with a professional. The appeal of DIY filing is more than avoiding long queues or appointment-making. It is a feeling of control, openness, and quickness. Let us take salaried taxpayers for starters. In most cases, all documents that a salaried taxpayer requires—Form 16, bank statements, AIS—are digital now. Software such as the app for TaxBuddy allows taxpayers to upload or auto-retrieve this information, get personalised filing suggestions, and submit their ITRs with a couple of clicks. There is also greater comfort with AI-based recommendations. If you failed to claim an HRA deduction or inappropriately reported capital gains, TaxBuddy's software will flag them for you even before you e-file. In a world where small errors become a big headache in the form of a tax notice or a stuck refund, that guarantee is invaluable. TaxBuddy: The App for Newcomers as Well as Repeat Users Complementing the many apps that fight for taxpayers' time, TaxBuddy has emerged as one of the leading ITR filing apps in the country. And it reflects in numbers. Between mid-May to mid-July, within a 60-day period, the app gained more than 2.1 million new users. That rush is a reflection of both this filing season's urgency as well as surging optimism in smart, technology-savvy solutions. What makes it so effective is its hybrid model. While much of the heavy lifting is taken up by the AI engine—completing forms automatically, reviewing financial data, identifying inconsistencies—there's also an option for human review with its new 'Priority Filing" service. It all amounts to a speedier, more secure, more effective filing process that generally takes less than 25 minutes. Pressure of July and the Role of Filing Apps Each year, July is crunch time for taxpayers. The threat of penalties for late filing looms, and last-minute rushing to file peaks in the last weeks. The year was no different. More than 38% of TaxBuddy's users filed between July 10 until July 30, according to data from the firm. A significant majority of those users filed their return in the last five days themselves. That much volume would be overwhelming with a traditional setup, but with top-rated filing apps for do-it-yourself filing, it is achievable. The apps are designed to accommodate spikes, deliver real-time service, and ensure that users don't end up with last-minute errors under duress. Fewer Errors, Fast Refunds One of the largest complaints about filing income taxes is being afraid of making a mistake. And with good reason. A small typo—forgetting interest income or under-reporting freelance work—can attract audit flags, slow up refunds, or downright land you with notices. Here, too, technology is a force multiplier. A study recently found that taxpayers who applied AI-based tax apps in India showed a 31% lower error rate than taxpayers who filed manually or via unverified agents. TaxBuddy app, with a focus on rule-based computing and accuracy, is one of these new tides of smarter tools for taxes. Its algorithms are also regularly updated with new changes in tax laws and filing patterns so that it detects anomalies even before they become problems. Filing Forward: What Lies Ahead With more financial data being digitised, including mutual funds, EPFO, and insurance, such players as TaxBuddy hold the solution to the entire tax ecosystem. They don't merely offer filing assistance; they educate users with information, maximise deductions, and make them ready for next year. If trends continue on current trajectories, India is set for a record of over 9 crore ITR filings this year. And much of that will be led by digital tools. Thus, the transition to DIY filing is more than a technology trend; it's a behavioural one. People want more control over their financial lives. They want to understand what they're filing, why it matters, and how to do it right. TaxBuddy app, one of the best ITR filing apps available nowadays, is bringing that change within reach. Whether you're a first-time filer or one with several sources of income, it introduces speed, accuracy, and ease to an otherwise intimidating process. In 2025, income tax filing in India is no longer an annual headache—it's becoming simply another task that you can tick off with a clear conscience. To explore more, you can check the following channels. top videos View all (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: August 02, 2025, 15:15 IST News agency-feeds Record Spike in Digital ITR Filing: TaxBuddy App Emerges as Top Choice in 2025 Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
18 minutes ago
- Time of India
OpenAI executive to students: 'Studying computer science is…'
OpenAI chairman Bret Taylor said that studying computer science remains "extremely valuable' in the era of artificial intelligence (AI). The executive emphasized that these degrees build 'systems thinking', a key skill that remains important even as AI coding tools become widespread. He emphasized that the skill helps in product development and is a critical skill that AI tools cannot replace. According to a Business Insider report, Taylor emphasized that this skill will continue to be essential even as AI coding tools progresses. He said a computer science degree gives students a deeper understanding of important topics like Big O notation, complexity theory, randomized algorithms, and cache misses. 'Studying computer science is a different answer than learning to code, but I would say I still think it's extremely valuable to study computer science,' Taylor said. Microsoft founder Bill Gates says AI won't replace programming as a career by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Indonesia: Unsold Sofas at Bargain Prices (Prices May Surprise You) Sofas | Search Ads Search Now Undo Speaking in early July, the Microsoft co-founder said that programming will 'remain a human job for at least a century'. Writing software, he argues, is less about typing syntax and more about spotting unseen patterns, judging trade-offs and making a leap no algorithm can anticipate. AI can already draft snippets, debug routine errors and suggest architectural templates, yet the spark that turns a half-baked idea into working logic still comes from a person at a keyboard. Gates shared the view in separate conversations with The Economic Times and The Tonight Show, then echoed it during a podcast with Zerodha's Nikhil Kamath. Each time, he circled back to the same point: tools like Copilot and ChatGPT are power chisels, not replacement carpenters. They enhance human productivity, creativity, and problem-solving across multiple industries and sectors. These AI tools shorten repetitive grunt work but ultimately leave the blueprint and decision-making to us. Microsoft's AI Bet Pays Off: Company Joins Nvidia in $4 Trillion Club AI Masterclass for Students. Upskill Young Ones Today!– Join Now
