Bdeo, the company specialising in Visual Intelligence that optimises and automates insurance processes, ended last year with 50 clients in its portfolio. This growth has allowed the company to expand its presence to three continents, including Europe, Latin America and Africa, as well as in more than 25 countries, five more than a year ago. It currently has offices and/or representation in Spain, Mexico, the United Kingdom, France and Italy.
Commitment to the Spanish insurance market
More than half of all car insurance subscriptions in Spain are now processed using Bdeo’s technology. This milestone was reached in 2022, with Bdeo partnering with 8 of the top 10 motor insurers in Spain.
The company’s main clients in Spain include Mapfre, Mutua Madrileña, Zurich, AXA, Reale, Admiral, Generali, Catalana Occidente, Lagun Aro, Santalucía, Verti, Kutxabank Seguros, Liberty, Zurich and Mussap.
Transforming insurance processes in Latin America
In Latin America, Bdeo’s technology has also brought significant evolution to the insurance sector. It has helped reduce policy underwriting inspection times to less than 5 minutes; reduced inspection times for small claims to less than 8 minutes, and has taken economic claims estimation times from 40 minutes to 15 minutes.
This has enabled total repair times to be reduced from 24 hours in best-case scenarios to 5 hours or less. Bdeo’s customers in the region include Allianz, Banorte, BBVA, BCI, Cesvi, Chubb, HDI, La Caja, Mapfre, Asistencia, Seguros Atlas and Zurich. Some of these clients are already using Bdeo’s technology to cover more than 60% of valuations.
The Bdeo team
Doubling the number of processed claims
In 2022, Bdeo’s Artificial Intelligence solutions processed more than 1.5 million cases, double the amount processed during the previous year.
This increase in activity, together with a growing international presence and new achievements in customer service, resulted in Bdeo being recognised as a top 100 Insurtech by Fintech Global, inclusion in Silicon Valley’s Plug&Play programme, and 4YFN awards nomination.
Breakthrough solutions for homes and fleets
In 2022, Bdeo introduced new breakthrough solutions. Following the success of its solution for motor insurers, the company launched a new Artificial Intelligence solution for home insurers that enables the detection and analysis of damp damage and glass damage.
In addition, Bdeo launched Visual De-Fleeting, a comprehensive AI solution that allows fleet companies to optimise their time managing and evaluating large fleets of vehicles. The solution enables fleet managers to assess any vehicle’s condition in seconds, directly from the user’s own mobile device, and can be applied to leasing, renting, subscription, car sharing or rent-a-car business models.
Visual Intelligence: Using AI to assess damage and estimate costs
Bdeo continues to enhance its core Visual Intelligence technology, a specific type of Artificial Intelligence that helps collect visual evidence of vehicle or home damage via any mobile device, then analyse it and estimate policy rates or repair costs in a matter of seconds.
Visual Intelligence helps to automate the underwriting and claims management processes for auto and home insurance companies, as well as inspection processes for fleet management companies, drastically reducing processing times from weeks to minutes. As a result, companies can minimise friction, increase customer satisfaction and reduce operating costs.
For more information, please visit: https://bdeo.io
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