Bdeo, a Spain-based insurtech startup providing visual intelligence solutions for the insurance industry, has officially announced a new partnership with South Africa’s largest privately-owned insurance company, Hollard Insurance Group, to bring an artificial intelligence (AI) insurance claim assessment tool to the South African market.
According to Bdeo, the assessment tool uses AI technology to detect vehicle damage from info and photos submitted by Hollard’s customers after which it is able to assess the damage and generates a cost breakdown for the parts that need to be replaced or repaired.
The assessment tool, which Bdeo claims will create an automated & agile claims process that will save time, reduce costs, and foster remote and digital claims processing which is widely preferred by customers, will be used in more than 70% of all motor claims at Hollard.
In a press release shared with TechCabal, head of claims at Hollard Insurance Group Arie de Ridder stated that Hollard is looking forward to bringing Bdeo’s disruptive artificial intelligence assessment tool to the African market which he believes will deliver exceptional service standards to Hollard customers.
For Bdeo, CEO Julio Pernia mentioned that the expansion into the African market confirms that the company’s visual intelligence technology is a global solution that can be applied to local markets and enables insurers to make great leaps in efficiency in the process.
The 2 companies spent 3 years developing the assessment tool, and in 2021, the tool helped Hollard Assessors expedite over 20,000 assessments for the company’s customers.
