We’ve all been there- having to file a claim with our car insurance company. Let’s put it this way: it’s not enjoyable. The process of filing a claim can be long, tiring, costly, subjective, and overall frustrating. No one wants an even bigger headache after being in an accident or causing damage to their own car (that’s enough of a headache in and of itself!). The same goes for the insurance companies - dealing with claims is a long process that involves various parties, tons of paperwork and bureaucracy, etc. The time to go digital is finally here.
Why? We believe that $25 billion is left on the table each year due to adjuster costs, fraud, delays in the repair shop, and more. These issues lead to a poor customer experience, unnecessary fees, and again, frustration on all sides.
Auto insurers looking to move into the digital age and embrace digital transformation must adopt AI and computer vision strategies to guarantee the top customer experience possible and save money.
AI is changing the technology field and insurtech is no different. Companies that are looking to move forward and maximize profits (and let’s be honest, survive in many cases), need to adapt AI and computer vision.
The reason is simple. Technology allows us to do things that humans struggle with, easily and with precision. By integrating AI into the insurance field, the process becomes more reliable and removes the emotional and subjective aspects.
Ravin.ai offers a web-based, off-the-shelf, mobile application. The app scans any vehicle while the AI system guides the user. The system can detect if something was missed, what needs to be scanned again, an area that should be zoomed in, etc. The AI interface does all the work by letting the user and insurer know: a dent was detected by the right door, a scratch by the bumper, a missing headline, etc. The assessment is in real-time, proving to be an advantage as a complete record of the vehicle is created within minutes. Both the car user and the insurance company can have peace of mind and the knowledge that everything is recorded and ready to go. In the end, both sides receive full documentation, ensuring trust and transparency.
The auto industry is making great strides when it comes to the technological processes present inside cars, automated driving, and so much more. But when it comes to car evaluation and the insurance project, it often feels like we’re decades behind.
With Ravin, insurtech gets a boost with the help of AI and computer vision. Gone are the days of subjective car assessments or being nervous about returning a rental car and being slammed with damage fees.
Car insurer? Now’s the time to get on board with our AI-based technology. Talk to us. firstname.lastname@example.org