Bdeo

Insurance companies were struggling to manage claims workload efficiently, with up to 80% of premiums going toward claims handling and indemnity costs. Traditional claims processes required physical presence of insurance adjusters, causing long wait times — particularly in markets like Mexico where vehicles couldn't move until adjusters arrived. Fraudulent claims from vehicle workshops were also rampant, especially across Spain and Latin America.

Bdeo built a SaaS platform combining live video streaming and AI to automate remote motor and property insurance claims assessment. When a claim is received, the platform automatically sends an SMS with a hyperlink to the claimant's mobile. A geolocalized live video call collects damage evidence, which is then verified and validated using AI and blockchain technology, generating a detailed report for the insurer to process immediately — no app download required.

The platform enables insurers to process 70% of motor and property claims without human staff involvement. The claims process is sped up by up to 80%. The solution also reduces fraudulent claims by requiring live video — uploaded photos are not accepted — and verifying all images come from the same vehicle. By 2019 the startup had 16 clients including Zurich Insurance, Mutua Madrileña, Chubb, and BBVA, with MRR growing fivefold month-on-month since early 2019.

• Live video verification with geolocation and AI validation is highly effective at reducing fraud compared to static photo uploads.
• Roughly 70% of insurance claims are minor enough to be handled entirely by technology without a human adjuster present, representing a large automation opportunity.
• Enterprise sales cycles at large insurers can exceed a year, creating a significant pace mismatch for fast-moving insurtech startups that must plan accordingly.