Insurance Times Awards 2022: Ravin AI uses artificial intelligence ‘to make the motor claims process faster and more transparent’

Why did you want to enter the Excellence in Technology - Motor Claims category specifically?

We’re applying artificial intelligence (AI) to make the motor claims process faster, easier and more transparent.

For insurance carriers, the claims process is when customers truly experience their product.

A good claims experience has been shown to lead to higher customer retention and a bad one will almost inevitably lead to a customer switching providers.

What do you think makes your entry stand out or different from your competition?

We apply cutting edge, patented AI technology to a process that has only seen incremental changes in the past few decades.

We’re solving an issue at the core of motor insurance and doing so in a way that is only now possible - due in part to our technical team’s innovations over the past five years.

Secondly, unlike other companies that analyse damage images, Ravin’s mobile app is also running an AI in real-time on the customer’s device. This allows us to guide users with augmented reality prompts, making the process of submitting a claim so easy that someone who isn’t technical and doesn’t know anything about cars can do a successful scan. 

What would winning this award mean to you and your firm?

Commercially, winning this award would give us amazing visibility within the UK insurance sector.

Given insurance can be a relatively conservative business, showcasing new ideas and technologies like what we’ve developed here really helps open the eyes of industry leaders to what is possible.