How big data can combine with AI to insure older vehicles

November 11, 2022 12:06 AM

AI-based data analysis, along with advanced images produced by computer vision systems, can thus help insurers build a better relationship with customers and provide more accurate results for everyone involved. Advanced technologies can help build a trusting relationship with customers by helping them offer coverage and set premiums that customers can afford or evaluate payments after incidents.

With advanced technology, insurers can protect their interests while making their customers happier – a win-win for both sides

Read the full article by Omer Perry in Insurance New Net

How big data can combine with AI to insure older vehicles

How AI and Autonomous Vehicles will Save Lives

The goal of autonomous vehicles is to reduce - and ultimately replace - the need for humans to be actively involved in the driving of vehicles on our roads. In the US, human error accounts for 94% of vehicle crashes. 94%!

The Trade-In Appraisal Process at a Dealership, Explained

When it comes time to turn in an old car for a new one, some folks prefer to do so at a dealership rather than sell their car privately. Many find the process to be a positive experience; for some, it’s a tax credit while for others, it’s credit towards a new car, or saving time on the selling process. Selling privately involves the headache of sorting through offers, talking to interested buyers, and meeting those potential buyers to show the car. By trading a vehicle into a dealership, sellers save time and can complete a transaction in one day.

Why Digital Vehicle Inspections Are the Key to Improving Road Safety

Manual vehicle inspections often leave customers feeling discouraged and suspicious that they’re being taken advantage of. This can make it less likely to be proactive about regular inspections which can further lead to unsafe cars on the road. Digital vehicle inspections are changing all of this, especially road safety.

The use of AI in fleet management can help fleets keep their vehicles longer, while saving lives, time and money.

AI tools can make recommendations about services needed or anticipated problems and repairs. As a result of an ongoing semiconductor shortage and supply chain issues, new cars are in short supply, with delivery times stretching as far as a year.

4 Automotive Industry Trends for 2023 You May Not Be Aware Of

The automotive industry is huge. In the US, it’s the second biggest industry sector after pharmaceuticals and the global auto industry is worth around $3tn (that’s trillion with a ‘t’!).

How Automatic Vehicle Inspections Simplify Insurance Claims

Here’s how Ravin AI’s automatic vehicle inspection can help both sides after an accident as well as simplify insurance claims post-accident.

How Big Data Is Shaping the Future of the Automotive Industry

Vehicle sensors gather structured, unstructured, and semi-structured data. Then it’s the job of data scientists and business intelligence analysts to write algorithms which turn that data into useful information. Even now, we’re only scratching the surface of what is possible today and will be possible over the next decade.

How Ravin’s AI powered car damage detection is changing the automotive industry

Ravin works with world-leading motor insurance companies to streamline claims and underwriting processes.

Top 10 Israeli Automotive Startups & Companies of 2022

The automotive industry continues to drive in the fast lane, innovating the way one interacts, uses, and even purchases vehicles. Artificial intelligence (AI) and information-centric technologies (such as big data), help individuals and companies incorporate software solutions into daily transactions.

Ravin AI's Digital Vehicle Inspection App

Ravin’s Inspect mobile web- app allows anyone to easily conduct a vehicle inspection using just their cell phone. The app is highly configurable, giving customers the ability to adapt the exact inspection steps to their specific requirements. And, because it’s a web-based app, users don’t have to download anything - it can run directly in their browser.

How is AI Impacting the Automotive Industry?

It’s no surprise when we say that the automotive industry is changing. And it’s changing fast. Artificial intelligence in the automotive industry is giving those in the space the chance to create things that they could have only once dreamed of.

Artificial Intelligence in the Auto Insurance Industry Will Give More Power to Car Owners

As innovation is reaching new heights with connected and autonomous vehicles, the auto insurance industry is also experiencing its own evolution

What Hidden Data Can Do for the Insurance Industry

Learn why data – especially that collected from sensors and other IoT devices multiplying by the day – along with AI could be doing much more for insurance companies.

Top Automotive Conferences and Trade Shows in 2023

After two and half years of COVID-19 craziness, the automotive industry is finally coming back together for a wide range of in-person conferences in 2022 & 2023. We’ve rounded up a list of our top automotive conferences in 2023 that you don’t want to miss below.

How fleets can tackle climate change by reducing non revenue movements

I’ve spent a good part of my career in ‘traditional industries’. These include energy and chemical companies that produce the most essential products to sustain our ever-demanding lives. And since I can remember, we have always looked to measure and reduce our carbon footprint.

It's the inspection, stupid (not the grade!): how to ensure objectivity in used car assessments

It is often claimed that the vehicle grading system should be overhauled due to lack of objectivity. In reality, the best way to introduce such objectivity is to use technology that removes the total reliance on human damage disclosure.

Who likes 5-course dinners? How covid has levelled the playing field for software startups

There’s no argument that for the most part, COVID has been and still is a bad thing. It destroyed lives and livelihoods. But one outcome that is only beginning to gain wider acknowledgement is the way COVID has changed the rules on business engagements.

Don't Browse, Search: are we ready to let computers run quality inspections on our behalf?

Thanks to AI, we are finally ready to implement the 'Don't Browse, Search' approach of capturing as much data as possible and turning it into insights, even in the high-trust area of quality inspection for physical goods.

Used Car Seller? Maximize Your Position with Quality Condition Reports

Used car dealers looking to sell their vehicle, should maximize their selling position with proper car documentation, checks, and inspections. Learn how to easily generate these reports.

Vehicle shortages beef up demand for shared mobility - but how to control accountability when cars swap hands multiple times a day?

There’s nothing more disappointing than finding your car in bad shape after someone else has used it.

Enterprise vendors: when your client’s business keeps changing, make sure to build flexibility into your solution (here’s how)

When your customer’s business keeps changing - what should you do?

The Time for Insurtech is… Now

AI has the potential to reshape the claims process and allow companies to begin focusing on prevention, mitigation, as well as, risk monitoring. Learn more.

How Auto Insurers are Becoming Digitally Savvy through AI & Computer Vision

Auto insurers looking to move into the digital age and embrace digital transformation must adopt AI and computer vision strategies. Here's why.

How our AI is assisting Toyota dealers to digitize their services in the age of COVID-19 & beyond

In partnership with Toyota, Ravin has introduced a set of AI tools to assist with visual inspections and communications. Learn more.

Artificial Intelligence Inside & Outside the Auction Gate

Learn how Ravin's artificial intelligence solutions are helping boost auto auction sales.

How we’re using AI to improve trust and efficiency in the mobility sector (slightly nerdy overview)

Back in February I gave a talk at Move 2020 in London which, given it was one of the last of the day, was surprisingly well attended.