CamCom announces strategic partnership with Oona Insurance to enhance auto insurance assessments using Artificial Intelligence
Mahesh Subramanian, Co-Founder and Chief Operating Officer of CamCom with Sourabh Chatterjee, Group Chief Technology Officer of Oona Insurance Bengaluru/Jakarta [India/Indonesia], February 6: CamCom, the pioneers in leveraging artificial intelligence […]
Mahesh Subramanian, Co-Founder and Chief Operating Officer of CamCom with Sourabh Chatterjee, Group Chief Technology Officer of Oona Insurance
Bengaluru/Jakarta [India/Indonesia], February 6: CamCom, the pioneers in leveraging artificial intelligence (AI) and associated technologies in the visual inspection process, announced its strategic partnership with Oona Insurance, the leading digital general insurance platform in South East Asia with a strong presence in Indonesia. This partnership is set to revolutionise the insurance landscape by harnessing AI to streamline car damage assessment through advanced image analysis, thereby resulting in enhanced speed, accuracy and transparency in risk assessments for policy underwriting and claims evaluation.
The automated process improves customer satisfaction through real-time claim updates and serves as a powerful tool in fraud reduction and operational cost optimisation. The streamlined claims settlement process ensures swift resolution, reducing waiting times and delivering a seamless customer experience. To further tailor the experience, the AI inspection journey’s components have been localised to the Indonesian language, aligning with the local market’s needs.
As a result of this partnership, several key features will be added. This includes 1) severity assessment, ensuring a swift and accurate evaluation of impact severity with a risk rating, and 2) fraud detection and prevention, incorporating predictive analytics, geo-location tagging, time stamp and image authenticity analysis to effectively identify and prevent fraud.
“Our partnership with Oona Insurance marks a significant stride in revolutionising the insurance landscape. The integration of advanced features reflects our shared commitment to providing customers with cutting-edge solutions that prioritise accuracy, transparency and security,” said Mahesh Subramanian, Co-Founder and Chief Operating Officer of CamCom.
Sourabh Chatterjee, Group Chief Technology Officer of Oona Insurance, said, “We are excited to partner with CamCom and introduce this groundbreaking technology to our customers in Indonesia. This collaboration represents Oona’s transformative leap forward in auto insurance assessments, promising a faster, more accurate, and intuitive experience for our customers.”
About CamCom:
CamCom is an award-winning, industry-agnostic Computer Vision (CV) platform for defect/damage assessment and identification of anomalies on all surfaces comprised of metal, plastic, or glass. We are pioneers in leveraging CV and associated technologies in the visual inspection process. In production with leading players in the automotive ecosystem, the platform provides solutions which create visual audit trails of vehicles from end-of-line to end-of-life. The CamCom Artificial Intelligence solutions increase efficiency, prevent defective seepage, and offer non-linear scalability. For more information, please visit: https://camcom.ai/
About Oona Insurance:
Headquartered in Singapore, Oona Insurance is the leading digital general insurance platform and is backed by Warburg Pincus. Established in 2022, Oona aims to become the general insurer of choice across South East Asia for both partners and customers through a buy-and-build strategy, leveraging the pillars of superior customer service, advanced technology and a well-established brand. Oona currently operates in two markets in the region: Indonesia and the Philippines. In Indonesia, Oona operates through its licensed insurance entity, PT Asuransi Bina Dana Arta, Tbk. In September ‘23, Oona launched its “Smart Flight Delay” insurance product, an innovation that effectively addresses a specific concern among air travellers – unexplained airline cancellations and flight time delays. Subsequently, Oona made another “first” by launching its “Kahoona” intermediary distribution platform in late October. For more information on Oona Insurance, please visit: www.oona-insurance.com
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