Shell Backs Vehicle Inspection Startup Ravin AI

May 21, 2019 2:50 PM

By Meir Orbach

Shell Ventures, the corporate venture arm of Royal Dutch Shell PLC, has invested in Israeli autotech startup Ravin AI Ltd., the latter announced Tuesday. Shell participated in Ravin’s $4 million seed round led by Pico Venture Partners and also participated by automotive entrepreneur and former executive vice president of American Traffic Solutions Inc. Adam Draizin.

Founded in 2018 and based in both Haifa and London, Ravin AI develops technology based on computer vision and deep learning designed to automatically detect and analyze car damage. Ravin’s technology uses pictures of cars taken from a mobile phone or simple security cameras to create an updated image of the vehicle and provides an online damage report. It enables organizations such as rental companies to identify car damage and simplify maintenance.

Royal Dutch Shell. Photo: Bloomberg

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Shell Backs Vehicle Inspection Startup Ravin AI

Ravin AI’s technology uses computer vision and deep learning to create a real-time image of vehicles in order to detect and analyze car damage.

Transforming Claims Management: How RAVIN AI Redefines Efficiency and Customer Experience

As the insurance industry evolves, the pressure to improve continues to grow. Policyholders expect fast, transparent claims, while insurers strive to reduce costs, improve accuracy, and maintain trust. Yet, the claims process often continues to be plagued by inefficiencies—from delayed damage assessments to fragmented communication—resulting in frustrated customers and higher repair costs.

Reimagining Image Uploads: How Ravin Simplifies the Claims Process for Insurance Providers

Uploading images for an insurance company has become a standard part of the claims process. Whether it’s photos of a damaged car after an accident, a broken window at home, or evidence of a valuable item that’s been lost, the expectation today is that one can capture and submit relevant images. The idea is simple, but the actual user experience can often be more frustrating than smooth. From blurry or incomplete photos to cumbersome uploads and lack of clarity about what's needed, many insurance providers still struggle to create a seamless uploading experience. Here’s a look at the common pitfalls companies face—and how RAVIN’s technology has reimagined the process to deliver an experience that feels quick, intuitive, and worry-free.

The Evolution of AI and Cars: Transforming the Driving Experience and Revolutionizing Auto Insurance

Over the last decade, the automotive world has experienced a technological transformation unlike any other. Artificial intelligence (AI) has moved from a futuristic concept to a central component in how we drive, maintain, and even insure our vehicles. What began as simple automation is now a sophisticated integration of machine learning, computer vision, and data analysis that powers everything from in-car navigation to autonomous driving. With these advances, the auto insurance industry is also evolving, leveraging AI to redefine how claims are managed, accidents are prevented, and customers are served.

After a Car Accident, Who's Notified First?

In 2024, the way we respond to car accidents has changed dramatically. Gone are the days when the first step was a frantic phone call to an insurance company. Today, technology is increasingly stepping in to handle the aftermath of an accident. But who—or what—is the first to be notified when a car crash occurs? Is it the driver? The insurance company? Or could it be the car itself? This blog explores how accident reporting has evolved, the difference between new and older vehicles, and how technology, including artificial intelligence (AI) and machine learning, is transforming the claims process.

Efficient Claims Management: The Key to Customer Satisfaction in the Age of AI

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NEW: White Paper: Crisis and Opportunity in Motor Insurance | Ravin AI

The automotive industry is transforming rapidly, with AI-driven solutions at the forefront of change. Ravin AI’s latest white paper dives deep into the future of vehicle damage, and assessments, highlighting the role of computer vision, machine learning, and automated processes that streamline insurance claims, reducing costs, and enhancing customer satisfaction. Ravin AI’s white paper underscores the importance of embracing AI in the automotive and insurance sectors. By adopting advanced technologies, companies can improve accuracy, speed, and customer satisfaction, ultimately transforming how vehicle damage assessments are conducted.

Revolutionizing Claim Settlements with Ravin AI: Transforming the Motor Insurance Landscape

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How Phil Smith Acura Supercharged Their Trades With RAVIN AI's Virtual Appraisal Technology

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Car-sharing and AI-driven Inspections: The Future in a Frame

Car-sharing, a term synonymous with convenience in the 21st century, has its roots dug deep into urban cities, with Singapore being a gem of an example. The success of models like Get-go, emphasizing on high-volume imaging, has redefined what 'grab-and-go' means in the automotive world. But as the sun gleams on shiny exteriors and city-dwellers enjoy the privilege of mobility without ownership, an unsung hero works tirelessly behind the scenes: car inspection technology.

The Rise of AI in Vehicle Safety

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Elevating Fleet Performance: The Cutting-Edge Technology of Ravin AI

Ravin AI, a trailblazer in the world of fleet management, has revolutionized how businesses oversee their vehicular assets. At the heart of their technology is the Ravin AutoScan™, a sophisticated camera system installed at fleet hubs. This system is autonomously powered by AI, designed to enhance operational processes including vehicle inspections and returns.

Revolutionizing the Auto Insurance Terrain: A Comprehensive Exploration of AI-Driven Car Inspections

In the sprawling annals of the auto insurance sector — a market that has seen both monumental upheavals and steady progressions — deciphering patterns of change becomes crucial. The industry, originating from handwritten policies and face-to-face evaluations, has seen the advent of digitization. Yet, within this evolution, a pivotal shift looms large: the transformative potential of AI.

A Ride Down Automotive's Memory Lane

Ah, cars. They have been with us for over a century, evolving from a luxury for the few to a must-have for many. From being mere machines on wheels to becoming intelligent companions on our journeys. But it's not just about our love for speed or that newfound sense of freedom from the pandemic-induced confinement; the automotive industry has, in its rumbling engines, encapsulated tales of innovation and vision that all of us can find truly enlightening. *Cue the nostalgia* — remember those classic road trips, where the journey was more intriguing than the destination? Let's hop into our time machine (or a well-maintained DeLorean) and travel back 25 years. Ah, the 90s, a time when the Macarena was a global sensation and flannel shirts made a fashion statement. In the automotive world, we were witnessing the infancy of electric vehicles (EVs) and a burgeoning consciousness of the environment. A time when mentioning "electric cars" might have fetched you some bemused glances, akin to suggesting that fax machines might one day be obsolete. Oh, how times have changed!

The Unseen Roadblocks in Car Rentals: How the Challenges Loom Large

Remember the days when a car rental experience began with an attendant, clipboard in hand, meticulously circling dings and scratches on a paper diagram of a car? This ritual, though familiar, is fraught with limitations. Human error, variability in judgment, and the sheer time consumption of these manual processes have long been the Achilles heel of the industry.

The Future of Automated Car Inspections: Deep Learning and Beyond

In the echoing halls of automotive innovation, a resonant hum of artificial intelligence reverberates, transforming not just the vehicles themselves, but also the very way we inspect and understand them. Deep learning and neural networks, once abstract concepts reserved for tech elites, have become the focal point of modern car inspections, driving profound change. And at the heart of this seismic shift? Ravin AI, a pioneering firm that's redefining the intersection of automotive and artificial intelligence.As any seasoned expert in the automotive world can attest, the very nature of car inspections has long been a complex dance of manual scrutiny and subjective judgment. But the tide is turning. The industry has, in recent years, been blessed with the meteoric rise of deep learning and neural networks, dramatically expanding the horizons of what's possible.

Contactless Rental Vehicle Inspection: An Idea Whose Time Has Come

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The Rise of Telematics: Driving the Future of Fleet Management

Behind the seamless logistics we experience today, lies an unsung technological marvel – telematics. Melding telecommunications with vehicular advancements, telematics is dramatically reshaping the intricacies of fleet management.

Driving Change: How Leading Dealerships Are Leveraging AI to Enhance Profitability

In the heart of the bustling metro area, Prestige Motors stands as more than a dealership — it is an institution. With multiple branches across the state and a history that spans decades, this family-run empire commands respect. The dealership’s sprawling showrooms, brimming with the latest models and an expert sales team, are a testament to Prestige's status. But behind the gleaming façade, the reality of today’s automotive retail landscape weighs heavily on Prestige’s management. In a world where new car sales margins are wafer-thin and customer loyalty is a fleeting concept, Prestige Motors is wrestling with a critical challenge: how to transform their extensive, often underutilized service department from a supportive function into a formidable profit center. It is a savvy pivot, reflecting a broader industry trend but implementing this vision has surfaced new operational hurdles—most notably, the increasingly frequent and often contentious issue of false damage claims, and the need for heightened efficiency.

Revolution on the Road: AI Shifts Car Insurance Into High Gear

The car insurance landscape is being redefined by technological innovation, and a recent article captures this transformation in vivid detail. Focusing on the revolution in vehicle inspection, the article highlights @Ravin AI's groundbreaking solutions, as well as the innovative strides made by industry leaders like @Allstate, @Progressive, @MetLife, @State Farm, and @Allianz. This narrative paints a compelling picture of how AI is enhancing both accuracy and efficiency within the industry, setting new standards that were once considered unattainable.

Transforming Car Rental Inspections with AI

Imagine a world where the car rental process is devoid of lengthy queues, paperwork, and frustrating discrepancies about vehicle damages. That's the vision we share as we delve into the challenges that have historically plagued the car rental industry, specifically the arduous processes related to car inspections. These traditional routines have often been laborious, subject to human errors, and time-consuming, breeding customer dissatisfaction and operational inefficiencies. The industry has been crying out for a technological revolution to mitigate these challenges. That revolution has finally arrived on the back of Artificial Intelligence (AI) and machine learning technologies. Leading this transformative charge is Ravin AI.

Transforming the Car Auction Landscape: A Comprehensive Examination of AI's Multifaceted Impact

In the bustling world of car auctions, the ceaseless pursuit of innovation has resulted in the transition from crowded auction houses to increasingly digitized platforms. Today, the industry stands on the brink of a monumental leap into the future, powered by artificial intelligence (AI). The incursion of AI into this domain is changing the dynamics of how vehicles are bought, sold, and valued, introducing an era of data-driven decisions and sophisticated automation.

Discovering the terrain of car leasing

Car leasing, a novel concept to some, has emerged as a popular alternative to owning a vehicle outright. The possibility of driving a brand-new car every few years, laden with cutting-edge features and sans the burdensome cost of ownership, is a tantalizing prospect for many. Yet, car leasing isn't as straightforward as it may seem; it's an intricate terrain with its unique set of rules, terms, and potential pitfalls. The goal of this comprehensive guide is to help you navigate this terrain confidently, making your journey through the world of car leasing smooth, enjoyable, and rewarding. And as an added bonus, we will introduce you to a trusty co-pilot on this journey – the Ravin AI car inspection app. It's never too early to familiarize yourself with this tool, so why not download the Ravin AI app right away?

How AI and Autonomous Vehicles will Save Lives

The goal of autonomous vehicles is to reduce - and ultimately replace - the need for humans to be actively involved in the driving of vehicles on our roads. In the US, human error accounts for 94% of vehicle crashes. 94%!

The Trade-In Appraisal Process at a Dealership, Explained

When it comes time to turn in an old car for a new one, some folks prefer to do so at a dealership rather than sell their car privately. Many find the process to be a positive experience; for some, it’s a tax credit while for others, it’s credit towards a new car, or saving time on the selling process. Selling privately involves the headache of sorting through offers, talking to interested buyers, and meeting those potential buyers to show the car. By trading a vehicle into a dealership, sellers save time and can complete a transaction in one day.

Why Digital Vehicle Inspections Are the Key to Improving Road Safety

Manual vehicle inspections often leave customers feeling discouraged and suspicious that they’re being taken advantage of. This can make it less likely to be proactive about regular inspections which can further lead to unsafe cars on the road. Digital vehicle inspections are changing all of this, especially road safety.

The use of AI in fleet management can help fleets keep their vehicles longer, while saving lives, time and money.

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4 Automotive Industry Trends for 2023 You May Not Be Aware Of

The automotive industry is huge. In the US, it’s the second biggest industry sector after pharmaceuticals and the global auto industry is worth around $3tn (that’s trillion with a ‘t’!).

How Automatic Vehicle Inspections Simplify Insurance Claims

Here’s how Ravin AI’s automatic vehicle inspection can help both sides after an accident as well as simplify insurance claims post-accident.

How Big Data Is Shaping the Future of the Automotive Industry

Vehicle sensors gather structured, unstructured, and semi-structured data. Then it’s the job of data scientists and business intelligence analysts to write algorithms which turn that data into useful information. Even now, we’re only scratching the surface of what is possible today and will be possible over the next decade.

How Ravin’s AI powered car damage detection is changing the automotive industry

Ravin works with world-leading motor insurance companies to streamline claims and underwriting processes.

Top 10 Israeli Automotive Startups & Companies of 2022

The automotive industry continues to drive in the fast lane, innovating the way one interacts, uses, and even purchases vehicles. Artificial intelligence (AI) and information-centric technologies (such as big data), help individuals and companies incorporate software solutions into daily transactions.

Ravin AI's Digital Vehicle Inspection App

Ravin’s Inspect mobile web- app allows anyone to easily conduct a vehicle inspection using just their cell phone. The app is highly configurable, giving customers the ability to adapt the exact inspection steps to their specific requirements. And, because it’s a web-based app, users don’t have to download anything - it can run directly in their browser.

How is AI Impacting the Automotive Industry?

It’s no surprise when we say that the automotive industry is changing. And it’s changing fast. Artificial intelligence in the automotive industry is giving those in the space the chance to create things that they could have only once dreamed of.

Artificial Intelligence in the Auto Insurance Industry Will Give More Power to Car Owners

As innovation is reaching new heights with connected and autonomous vehicles, the auto insurance industry is also experiencing its own evolution

What Hidden Data Can Do for the Insurance Industry

Learn why data – especially that collected from sensors and other IoT devices multiplying by the day – along with AI could be doing much more for insurance companies.

Top Automotive Conferences and Trade Shows in 2023

After two and half years of COVID-19 craziness, the automotive industry is finally coming back together for a wide range of in-person conferences in 2022 & 2023. We’ve rounded up a list of our top automotive conferences in 2023 that you don’t want to miss below.

How fleets can tackle climate change by reducing non revenue movements

I’ve spent a good part of my career in ‘traditional industries’. These include energy and chemical companies that produce the most essential products to sustain our ever-demanding lives. And since I can remember, we have always looked to measure and reduce our carbon footprint.

It's the inspection, stupid (not the grade!): how to ensure objectivity in used car assessments

It is often claimed that the vehicle grading system should be overhauled due to lack of objectivity. In reality, the best way to introduce such objectivity is to use technology that removes the total reliance on human damage disclosure.

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Thanks to AI, we are finally ready to implement the 'Don't Browse, Search' approach of capturing as much data as possible and turning it into insights, even in the high-trust area of quality inspection for physical goods.

Used Car Seller? Maximize Your Position with Quality Condition Reports

Used car dealers looking to sell their vehicle, should maximize their selling position with proper car documentation, checks, and inspections. Learn how to easily generate these reports.

Vehicle shortages beef up demand for shared mobility - but how to control accountability when cars swap hands multiple times a day?

There’s nothing more disappointing than finding your car in bad shape after someone else has used it.

Enterprise vendors: when your client’s business keeps changing, make sure to build flexibility into your solution (here’s how)

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The Time for Insurtech is… Now

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How Auto Insurers are Becoming Digitally Savvy through AI & Computer Vision

Auto insurers looking to move into the digital age and embrace digital transformation must adopt AI and computer vision strategies. Here's why.

How our AI is assisting Toyota dealers to digitize their services in the age of COVID-19 & beyond

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Artificial Intelligence Inside & Outside the Auction Gate

Learn how Ravin's artificial intelligence solutions are helping boost auto auction sales.

How we’re using AI to improve trust and efficiency in the mobility sector (slightly nerdy overview)

Back in February I gave a talk at Move 2020 in London which, given it was one of the last of the day, was surprisingly well attended.