One software seller is working with salvage operators, as another hardware maker from Europe plans its U.S. entry.
Two more companies are looking to join a slew of others offering AI-based assessments and pre-estimates to body shops. As with competitors, each approaches the space somewhat differently.
New Jersey-based Claim Genius software is making inroads with shops, salvage yards and insurers. Hardware provider Proov Station wants larger operators and dealerships.
The first “generates information fast and expedites claims settlements,” said Claim Genius CEO Raj Pofale, “giving an idea of how much time it will take and how much money is involved.”
“This is most profitable for big locations,” said William Balas, who heads marketing for France-based Proov Station. “Big locations and big dealerships.”
Claim Genius is similar to Tractable, Proov Station like UVeye. Software maker BayWatch and hardware from Wenn — a Norway company also entering the U.S. — are in the mix, too.
Is This Genius?
Pofale founded Claim Genius in 2019, following a collision involving his wife. He said the phone calls back and forth and other estimating delays drove his aim to save time and money, flowing naturally from the mind of a former Wall Street tech exec.
The software is running “in the [mechanical] garages and with some of the rental car companies,” Pofale said. It’s being tested in body shops for proof of concept — “how will this expedite inflow and outflow” — and it’s connecting with collision repair via salvage operations and insurance companies as well.
“We’re partnering with recycling companies,” he said. Yards sign on with the software to “bid on more cars and add to inventory. They need to bid the right amount but there’s no scientific way to calculate the value. They need a platform to do damage assessment.”
Otherwise, it’s “a manual process, where you look at every picture and it takes several hours to review cars.” Insurance “uses us to automate policy underwriting,” Pofale said.
Chicago-based insurer Clearcover began doing so this year for “policy pre-inspection” in two states. “Now we’re discussing the next phase — for when that same vehicle comes in for a claim.”
Pofale said the software is also used in India for claims automation. The work also then touches overlap between salvage yards and insurers. Repairify is another Claim Genius partner.
