Ravin AI, a leader in deep learning vehicle inspection technology, secured today its first Australian Investment from Firemark Ventures, the corporate venture capital arm of IAG, the largest insurer in Australia and New Zealand.
Many large insurance providers serving the automotive industry can often face internal and customer-facing time-lags, as well as issues relating to the consistency of vehicle assessments and claims estimates.
Ravin's platform is designed to improve the accuracy of vehicle assessments, reducing operational costs and improving customer trust by providing more transparent repair quotes. IAG's investment also reflects Ravin's wider market penetration strategy into the APAC region.
Check out the full release here.