Asia InsurTech Podcast talked to Mahesh Subramanian, Co-founder & CEO of AI startup CamCom. The company is focused on deploying AI in the automotive space and to innovate along the insurance value chain. For example, with the help of drones and computer vision, CamCom could assess damages on a car within minutes after an accident.
Mahesh talks about how human-dependent the insurance industry is, even though many tasks including KYC and loss assessment could become contactless with the help of AI. An important aspect since the outbreak of Covid-19. But apart from reducing human interaction, AI can also help make decisions more objective and less subjective.
CamCom has raised pre-series A in January 2020 and is working with a number of insurers in India offering their computer vision technology to assess motor claims. Their business model is a tranactional SaaS model that charges clients per inspection. With large numbers of vehicles on the road and an appetit for innovation, Dubai/UAE is another important market for CamCom to focus on.
If you would like to learn more about how AI can be deployed in insurance, listen to our epsiode with Ravi Saraogi from Uniphore.