Spanish InsurTech company Bdeo has formed a partnership with automotive repair data specialist GT Motive.
This agreement will help car insurers detect vehicle damage through AI and automate real-time estimation of repair or replacement costs of damaged parts.
It will accelerate damage analysis and cost estimation to help insurers simplify decision making and resolve underwriting and claims faster.
Bdeo chief product officer Ana Asuero said, ?We are very pleased with this partnership with GT Motive. Thanks to this collaboration, Bdeo increases the capability of its Visual Intelligence engine in estimating the cost of a vehicle, allowing insurers to not only detect and estimate the cost of repairing parts, but also adding the ability to estimate replacement costs to their value chain.p>
Bdeo allows consumers to provide visual evidence of an accident through their mobile phone. It works by starting a geo-located video call and the technology will capture photos and videos of the damage or products.
The InsurTech recently hired more staff to its UK and Germany offices.
Late last year, Bdeo closed a ?5m funding round, which was supported by BlackFin Capital Partners, K Fund and Big Sur Ventures.
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