Bdeo
By Bdeo
Bdeo is a technology company that specializes in providing AI-powered Visual Intelligence solutions for the insurance and fleet management industries. The company’s primary focus is on automating and optimizing processes such as claims management and underwriting for motor and property insurance. Bdeo’s technology allows insurers to assess damage remotely through images or videos submitted by policyholders, enabling faster, more accurate decision-making without the need for physical inspections. The platform uses advanced computer vision and artificial intelligence to analyze visual evidence and provide cost estimates, fraud detection, and repair recommendations.
Bdeo was founded in 2017 by Julio Pernía Aznar and co-founder Manuel Moreno, both of whom had extensive experience in the insurance industry. They identified inefficiencies in the claims process, particularly for minor claims that could be easily assessed with technology. Bdeo was launched to address these issues by enabling remote, real-time evaluation of motor and property damage through geolocalized video and photo assessments. Since its inception, Bdeo has expanded rapidly across Europe and Latin America, working with major insurers such as Zurich, Mutua Madrileña, Mapfre, and Chubb.
Bdeo has raised a total of €15.28 million in funding across multiple rounds, including a recent investment of €7.5 million in 2023 to support its international expansion. The company’s valuation is estimated to be between $33 million and $50 million as of June 2023.
Key investors include Armilar Venture Partners, Telefónica Seguros (through Wayra), K Fund, Blackfin Capital Partners, and The Centre for the Development of Industrial Technology (CDTI). These funds have been used to scale operations across Europe and Latin America, as well as to continue developing Bdeo’s Visual Intelligence solutions.
Bdeo’s core product is its Visual Intelligence platform, which leverages AI to automate the assessment of motor vehicle and property damage. Key features include:
Damage Detection: Bdeo uses AI-powered image analysis to detect damage at a pixel level, providing precise assessments of damage severity.
Cost Estimation: The platform can estimate repair costs based on visual evidence, allowing insurers to make quick decisions on whether repairs or replacements are needed.
Fraud Detection: Bdeo’s AI helps detect potential fraud by validating the authenticity of claims.
Remote Inspections: Policyholders can submit images or videos via smartphone for real-time assessment, reducing the need for physical inspections.
Integration with Existing Systems: Bdeo offers API-based integration with insurers’ existing systems and has partnered with platforms like Guidewire to streamline auto claims processing.
The platform is designed to reduce claims processing times from days to minutes, cut operational costs by up to 70%, increase fraud detection by 15%, and improve customer satisfaction through faster resolutions.
As of now, there is no public information indicating that Bdeo has made any acquisitions. However, the company has been focused on expanding its product offerings through partnerships with major insurers globally. For instance, Bdeo has integrated its Visual Intelligence solutions into platforms like Guidewire ClaimCenter, allowing seamless integration into insurers’ workflows.
Bdeo continues to innovate by expanding its Visual Intelligence capabilities. Recent developments include enhanced AI models for more accurate cost estimations and broader use cases beyond motor insurance into property insurance. The platform now supports real-time video assessments via geolocalized video calls, enabling faster claim processing during critical moments such as natural disasters.
Bdeo emphasizes a culture of innovation, customer-centricity, and teamwork. The company’s values include:
Think Big & Be Bold: Encouraging ambitious goals.
Go the Extra Mile: Striving for excellence in all aspects.
Care About Each Other: Fostering a collaborative environment.
This culture has helped Bdeo attract talent from diverse backgrounds while maintaining a strong focus on transforming the insurance industry.
Bdeo serves over 60 insurance companies across more than 25 countries. Its user base includes some of the largest global insurers such as:
In Spain: Mutua Madrileña, Mapfre, and Reale Seguros.
In Latin America: Zurich, BBVA, and Chubb.
The platform is used by insurers to streamline both motor vehicle underwriting (e.g., new vehicle policies) and claims management processes (e.g., assessing damage after accidents). Bdeo’s solutions have been particularly effective in reducing operational costs for insurers while improving customer satisfaction through faster claim resolutions.
Bdeo is a fast-growing technology company that has successfully positioned itself as a leader in providing AI-powered Visual Intelligence solutions for the insurance industry. With strong backing from venture capital firms, strategic partnerships with major insurers globally, and continuous innovation in AI-driven damage assessment technology, Bdeo is well on its way to transforming how insurers handle underwriting and claims management. Its focus on automation not only reduces costs but also improves customer satisfaction by speeding up traditionally slow processes.
