Digital Insurance Agenda

Bdeo: Automate your underwriting and claims management processes

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Dec 30, 2021

The Bdeo products for motor insurance are able to analyse the damage at the pixel level, which allows you to have much more accurate information about damaged surface and severity. The claims handlers have much more detailed information, making it easier for them to make decisions in the event of having to repair or replace the part, as well as its cost.

Similar for a home product, claims handlers can use the information provided by the insured and the photographs sent, to infer the cause of the damage, how serious it is and what priority it should get. But also which professional should go to solve the damage. The time it takes to resolve the claim is dramatically shortened.

Bdeo offers AI solutions to motor and home insurance companies to help automate their underwriting and claims management processes. They currently work with clients in more than 20 countries, with a particular focus on Spain, Latam, UK, France and Germany. In 2020 they were named by Gartner as a Cool Vendor in the area of insurance. And now in 2021 they have been included by CB Insights as an Outperformer in their ESP matrix.

Although Bdeo offers its solutions to insurers, they cannot forget that policyholders are the main beneficiaries of their technology. Thanks to Bdeo’s AI technology, insurers are able to automate many of their claims and underwriting processes, allowing claims handlers to focus on what really matters, providing the best solution for policyholders. As a result, policyholders can enjoy a much more satisfying experience by having an insurer that takes care of them instantly and provides them with a solution to their problem much more quickly and with only those people who are really necessary. This makes the processes much more agile and efficient for both parties.

What is unique about Bdeo’s solution?

In the case of motor insurance, damage analysis at the pixel level, which provides actionable outputs to the insurer. And in the case of home insurance, the product itself is unique today, as with their Visual Intelligence technology they are able to infer a wide variety of causes of water damage, streamlining claims management processes at times of high demand, such as torrential rains and floods.

How it works

When an accident occurs, the policyholder gets in touch with the insurance company, who oversees starting the claim process through the Bdeo management panel. Bdeo easily adapts to totally digital and automated opening channels, as well as assisted channels such as call centers.

When the claim is opened through the platform, the insurer sends a message to the policyholder, it contains a link which facilitates information about the claim in real time, by using a guided process that will request information regarding the damaged stay, as well as sending pictures of the damage itself.

Once the information is received, the engine of the Bdeo’s Visual Intelligence analyzes the information provided and offers the insurer the relevant outputs for to take decisions in real time. A professional provides a solution for the claim, seriousness, the need of sending an expert, etc.

Why we selected Bdeo for DIA Amsterdam

Bdeo brings the insurance industry the full potential of AI to make many of their processes easier. Thanks to this technology, which is increasingly on the rise and already implemented in other industries, they are able to help automate a large part of their daily tasks.

At DIA Amsterdam, they will talk about how they have focused AI technology, and more specifically Visual Intelligence, on automating the underwriting and claims management processes for motor and home insurance.

Thanks to Visual Intelligence solutions such as Bdeo, insurers are able to streamline their processes, making them much more efficient in terms of both cost and time. This allows them to offer a better experience to policyholders and get much closer to their needs, leaving machines and technology for everything that can be automated, without neglecting the human aspect.

Julio Pernía Aznar and Manu Moreno, both graduates in telecommunications engineering, founded Bdeo in2017 after having founded other companies together such as Reparanet and Director11.

Bdeo currently has more than 70 employees in more than 6 countries.

“Companies need to offer instant, reliable and accurate user experiences for underwriting and claims processing. Bdeo and its AI solutions are a true game changer for that matter.”

Julio Pernia, CEO at Bdeo
DIA Amsterdam 29-30 June

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