Photocert - Digital transformation in insurance claims
by Startacus Admin
Photocert - The lowdown on the InsurTech / SaaS startup that's using tech to digitally transform and revolutionise the 
insurance claims industry...
How genuine a picture is can be crucial in some circumstances. In a world of online classifieds, fake online reviews, fake news, insurance claims, shipping and logistics, and online dating, knowing whether an image is genuine or has been tampered with is more important than ever. This knowledge can prevent fraud, increase peace of mind, and in some circumstances, lower customer prices. But this has been easier said than done until now. London-based Photocert is an InsurTech/SaaS startup that has emerged to tackle this very issue. Two words you’ll be familiar with by now if you have been reading our articles lately are Ethereum Blockchain, and this is what Photocert uses, along with trusted timestamping servers, to legally certify the authenticity of pictures taken with any app with Photocert’s solution integrated.
Date, time, source device, and GPS location are all authenticated in this way. This prevents fraud by guaranteeing the highest security standards.
Using insurance as the example, Photocert can improve the efficiency of the claims process by easily integrating into the provider’s app and systems and encouraging real-time First Notice of Loss (FNOL) and faster initial assessment. Together, these result in a much improved, reduced claim cycle time. Because of the trusted timestamping server, Photocert photographs can be entered as evidence in litigation, leaving no doubt as to the authenticity of the image.
As well as this, Photocert uses an artificial intelligence to extract relevant data from the photos, such as license plates, street signs, and odometers. The AI can interpret the contents in the image in order to automate administrative processes.
Gauging the authenticity of an image is increasingly important these days, and we think that any software that makes that process quick, easy, and painless is going to go a long way.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
The startup that is on a mission to empower cyclists everywhere by providing the world’s largest cycle route collection in its innovative app
Black Young Professional Network, aka BYP Network will hit and surpass their Seedrs £500k funding round target.
.jpeg)
Planning to hire an accountant for your startup? Here are a few of the things you should consider before you do just that...
Sustainable reward scheme Bagboard, a first-of-its-kind advertising platform for planet-friendly brands launches £600k funding round
The Manchester-based startup that's created an app to enable hospitality businesses to maintain social distancing while still taking customer orders quickly
The lowdown on Bubo AI, the Yorkshire-based startup that's using AI to create value-based pricing for wholesale and distribution businesses
The London-based startup that's disrupting the insurance industry by its collective-based model for cycling insurance
More than half of employees concerned about returning to work and majority of employees NOT comfortable using public transport
The GCHQ Innovation Co-Lab is on the hunt for companies harnessing data science, machine learning and AI techniques to create real products and solutions.
Eppik is a smart family photo sharing platform that helps families reconnect through their shared photo heritage
Published on: 30th September 2018
.png)
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- More than half of employees concerned about returning to work 2nd Jul 2020 More than half of employees concerned about returning to work and majority of employees NOT comfortable using public transport
- GCHQ Innovation Co-Lab seeks startups harnessing data science, machine learning and AI 2nd Jul 2020 The GCHQ Innovation Co-Lab is on the hunt for companies harnessing data science, machine learning and AI techniques to create real products and solutions.
- Ten Years On: 30% Club Sets New Targets 1st Jul 2020 New targets set by 30% Club aimed at achieving both gender diversity and fully inclusive cultures on FTSE Boards, Executive Committees and Chair Appointments
- Xero’s Roadmap to Recovery manifesto launched 1st Jul 2020 Xero’s Roadmap to Recovery manifesto launched as new data confirms impact of COVID-19 on UK small business revenue and employment
