Bdeo: providing visual intelligence to the claims industry
Spanish startup Bdeo revolutionizes the insurance claims industry with AI & video solutions for claims handling processes. They reduce claims adjuster costs, improve operational efficiency and enhance the customer experience. Bdeo is focused on P&C and auto claims processes. By integrating technologies like geolocated video, augmented reality, and artificial intelligence, Bdeo simplifies claims processes.
Bdeo integrates a complete set of technologies around claims processes and is a unique and easy-to-use app. Agents can assess damage remotely and precisely using video streaming. The use of AI to detect damage and fraud makes Bdeo a unique platform. They are currently finishing a new version of their product with damage recognition and AR that will be released around December 2018.
Bdeo collaborates with several insurers in Spain, Portugal, Switzerland, and Germany. They won the Protechting.pt insurtech accelerator in Portugal and also the Chinese Innostar Competition in Shanghai with around 1000 startups competing.
Bdeo has different solutions for different types of damages in different industries.
How it works
When a claim is made via an integration with a company’s backend, Bdeo takes control of the claim, sending a web form or chatbot to the customer to perform a first claim categorization:
Moderate or severe damage: If the damage is categorized as moderate or severe we start a visual damage assessment with an agent. Bdeo redirects the customer to the mobile web browser with a link and performs a geolocated video call that assesses damage with an agent.
Bdeo allows taking pictures and videos; securing all media content with GPS and timestamps; and uses blockchain to avoid any type of changes or fraud. Thanks to augmented reality, agents are able to take measurements and finish their damage assessments.
Minor damage: If the damage is minor, Bdeo redirects customers to an easy web form where they indicate the damage they have suffered using pictures and videos. Bdeo processes all information in real time; performs content and quality assessments of the images uploaded by customers; and performs security checks with AI, letting customers know in real time if there are any issues with the images they have uploaded.
Bdeo processes all media and metadata with AI to raise fraud alerts and identifies damage in the case of car claims.
Auto insurance policy check
Bdeo allows the automatic processing of customer policy signatures with a powerful solution based on video & web forms. It verifies ID using AI, as well as checks for pre-existing damage.
Why we selected Bdeo for DIA Munich
The bdeo solution is extremely functional and intuitive. It reduces up to 80% of the claim adjusters time and 50% of the costs while improving the customer experience once the claim happened. Applying blockchain and AR to the media content generated in the claims process besides the existing time stamp and gps stamp media provides a more secure and trustworthy platform for insurers. This is a disruptive approach to solve the claims efficiently.
Check out their live demo here:
Who is Bdeo?
Bdeo was founded in Madrid by Manuel Moreno & Julio Pernía and opened an office in Mexico City in early 2018. Bdeo currently works with 12 insurances companies in Mexico, Guatemala, Colombia, Chile, Peru, and Argentina. Bdeo has several partnerships in the region with companies such as EY and MunichRE.
It received public funding in 2017 and completed with Spanish investors a pre-seed round of 350,000 €. Right now, Bdeo is in the process of closing a seed round of 800,000€ with Mexican and Spanish investors.
“Bdeo is reinventing claims handling processes for the better. We want to change the painful concept of claim providing visual intelligence to the insurance industry.” Julio Pernía Aznar, Bdeo CEO