The Madrid entrepreneurship ecosystem, TheCUBE, has launched Perif.ai, his eleventh startup in five years. It is a specially designed tool for the insurance and automotive sector and that automates the processes of recognition and appraisal of damage to vehicles through image capture combined with AI technology.
The project is designed for both the insurance sector and the carand seeks to reduce costs and the time dedicated to the work of verification and appraisal of cars, serving as a tool that improves the work of insurers, fleet managers and stakeholders in these sectors for which it was intended.
The technology behind the solution
This tool uses two technologies for its operation: AI and Deep Learning based on Machine Learning. Thanks to AI, the solution is capable of, through the analysis of photographs of a vehicle, generating a digital file with the damage identified, without the human factor having to interfere. The combination of these two technologies makes it possible to have a continuous verification and appraisal tool that minimizes errors and reduces the possibility of fraud to 0% to guarantee the condition of a vehicle during its useful life.
From these technologies arise the solutions that make up Perif.ai; Verif.ai and Perif.ai, which are the result of a project developed over three years by a technological team expert in AI & Deep Learning together with the support and advisory of TheCUBE Radical Innovation. Each of these solutions is designed to meet customer demands in a comprehensive manner, as in the case of Perif.ai, which seeks to digitize car appraisal processes or focusing on a specific need such as insurance contracting, or car condition control with Verif.ai.
“After a lot of work to validate the concept, there are already more than 400 workshops that have trusted Perif.ai solutions, more than 25,000 photographs have been analyzed and more than 1,000 expert reports have been carried out, achieving more than 92% accuracy in each analysis. Today, thanks to this project, files can be completed in less than two minutes, which is boosting the efficiency of expert offices that need this type of technology to digitize the most critical sectors”, stands out Julio RodriguezCEO of Perif.ai.