By FintechNews staff
CAB Group and Bdeo recently announced that the two companies have entered into a strategic collaboration. This will allow CAB’s insurance customers in the Nordic markets to benefit from the Spanish scaleup’s technological solutions.
Bdeo’s Visual Intelligence technology will enable CAB policyholders to gather evidence of motor (CABAS) and home (MEPS) insurance claims by means of a self-guided image and video capture solution. Bdeo’s IV engine will then analyze the evidence provided and supply automated outputs designed to speed up the decision-making process.
In lay terms, Bdeo’s Visual Intelligence image analysis software can “see” (or detect) property damage in photos taken by policyholders and then combines that information with other data to give a reliable estimate of the cost of repair or restitution. Policyholders get an immediate response to their claims, and insurers get all the data they need to assess a claim upfront & remotely – saving them operating costs and allowing them to scale claims management during periods of high demand (ex: extreme weather events). Bdeo also helps prevent fraudulent claims or inaccurate claims assessments.
“CAB’s insurance customers handle over one million claims every year via CAB’s CABAS and MEPS platforms. We’re thrilled to be partnering up with Bdeo to offer our insurance customers products that are able to provide accurate damage recognition and assessment in next to no time thanks to their SmartVideo and SmartPhoto technology. We are now able to offer our customers a tailored solution designed to boost policyholder satisfaction and, at the same time, minimize both operational costs and environmental impact,” said Peter Afzelius, CEO of CAB Group.
“Artificial Intelligence, and Visual Intelligence in particular, now form part of everyday life and are set to revolutionize the insurance sector. We’re confident that Bdeo’s Visual Intelligence solutions will bring considerable added value to CAB’s insurance customers, both in the short and long term. This collaboration enables us to expand our service reach by guaranteeing local support and customer service across the Nordic markets,” states Julio Pernía Aznar, CEO of Bdeo Technologies.
Bdeo now has offices in the UK, Spain, France, Germany, and Mexico, and the startup’s technology is used by over 35 insurers across 20 countries.
