Bdeo & Hollard Insurance Partner to launch Visual Intelligence Solutions in South Africa
In order to introduce an artificial intelligence (AI) insurance claim assessment tool to the South African market, Bdeo, a Spain-based Insurtech startup that offers visual intelligence solutions for the insurance industry, has officially announced a new partnership with Hollard Insurance Group, the largest privately-owned insurance company in South Africa.
Using information and photographs provided by Hollard’s clients, the assessment tool, according to Bdeo, employs AI technology to identify vehicle damage. Once the damage has been identified, the tool is able to assess it and generate a cost breakdown for the parts that need to be replaced or repaired.
To help streamline Hollard’s whole end-to-end automotive claims assessment and damage repair process, the two businesses entered into a strategic partnership. Through a self-directed image and video capture solution, Bdeo’s Visual FNOL technology enables Hollard policyholders to gather proof of motor insurance claims and submit it in real-time to Hollard Assessors for remote assessments.
With the use of Bdeo’s Visual Estimate technology, Hollard Assessors can create assessment reports and formally approve the panel beater repair stages more quickly. Bdeo’s Visual Intelligence technology assisted Hollard Assessors in 2021 in completing over 20,000 evaluations more quickly for their clients.
Arie de Ridder, Head of Claims for Hollard Insure speaking on the development said that the partnership was in accordance with the firm’s corporate objectives. He noted that Hollard takes pride in embracing technical advancements, creativity, and experimentation.
“Hollard is pleased to have partnered with Bdeo to bring this disruptive artificial intelligence assessment tool to the African market. We’re proud to be embracing technological enhancements, innovation and experimentation in line with our business imperatives.
“This product will ultimately benefit our customers and brokers through the delivery of exceptional service standards. We remain committed to driving efficiencies in all Hollard Insure business units, regions and broker partners,” said Ridder.
David Morris, Head of New Markets at Bdeo said that both teams had extensively examined and calibrated all parts of the solution. This is to ensure that Hollard delivers an effective service to both customers and body repair businesses.
The assessment technology was created by the two companies over the course of three years, and in 2021 it assisted Hollard Assessors in completing over 20,000 assessments more quickly for clients.
“We are delighted to formally expand the global footprint of Bdeo to South Africa,” said Julio Pernia, CEO of Bdeo. “This confirms once again that Bdeo Visual Intelligence is a truly global solution that can be applied to local market specialities, enabling insurers to make great leaps in efficiency.”