RAVIN AI to demo its new AI-powered vehicle repair assessment solution, RepairIQ, at ITC Vegas 2024 alongside strategic partners

LAS VEGAS, Oct. 14, 2024 (GLOBE NEWSWIRE) -- RAVIN AI, a leader in AI-powered vehicle assessment software, is excited to unveil RepairIQ, its unique repair assessment solution, at its dedicated booth at ITC Vegas 2024. Attendees will have the opportunity to experience RAVIN AI's cutting-edge technology through interactive demos designed to showcase how insurers can efficiently triage motor claims, accurately predict total losses, and effectively manage repair costs.

Built on 2 Billion Vehicle Images and Repair Insights Worldwide

RAVIN AI's virtual, AI-driven vehicle assessment software is powered by DeepDetect™, a proprietary damage detection technology that was granted patents in the US, EU and other jurisdictions based on its novel approach and recognized by TIME magazine as one of AI's breakthrough technologies. Since its inception, RAVIN has scanned hundreds of millions of vehicles using this technology and leveraged it to gain insights on damage and repairs worldwide.

Proven Results with Global Brands

By leveraging RAVIN AI's technology, global brands such as Avis Budget, Hertz, and IAG Insurance have achieved remarkable results. Clients typically see a 50% reduction in damage capture & cycle time by saving on logistics and overheads and have developed lower-cost repair options. These in turn streamline the claim settlement processes, preventing fraud and drive customer satisfaction for RAVIN's customers.

Interactive Demos at ITC Vegas 2024

Visitors to ITC Vegas 2024 can experience three interactive demos at RAVIN AI's booth:

Remote Vehicle Inspections via RAVIN Inspect™ App: Demonstrating how insurers can conduct thorough vehicle inspections remotely, improving efficiency and accuracy.CCTV Inspections using RAVIN AutoScan™: Showcasing how fixed cameras can be utilized for continuous and reliable vehicle assessments.Damage Detection: Highlighting AI-driven technology to accurately detect and assess vehicle damage.Repair suggestions and triaging decisions: Advising vehicle owners and insurers on extent of repair and whether vehicle should be totaled.

Strategic Partnerships

RAVIN AI's presence at ITC Vegas follows a year of significant milestones. In 2024, the company continued its strategic partnerships with industry leaders such as Sapiens, Guidewire, Yarris, IAG Insurance and more. These achievements underscore RAVIN AI's commitment to innovation and excellence in the insurance industry.

About RAVIN AI

RAVIN AI offers state-of-the-art, virtual vehicle assessment solutions powered by artificial intelligence. The company's technology empowers insurers to efficiently manage motor claims, predict total losses, and control repair costs, ultimately enhancing the customer experience and streamlining operations.

Join Us at ITC Vegas 2024

RAVIN AI invites attendees of ITC Vegas 2024 to visit their booth (#2876) and experience firsthand how their AI-powered solutions can transform the insurance industry.

For more information about RAVIN AI and their participation in ITC Vegas 2024, please visit www.ravin.ai or contact info@ravin.ai.

Contact:

Avital Pessar, VP of Marketing, RAVIN AI
Email: avital@ravin.ai

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d05645c7-b17d-4507-b9e6-081e9d6c5176

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