Automated Accident Reconstruction via Mobile Phone Application Qorus Innovation in Insurance Awards 2018 - Winner

Nexar is using proprietary AI technology to transform the auto insurance industry by increasing profitability, reducing fraudulent claims, providing context to collisions, and improving the customer experience. Nexar ‘s smartphone-based application utilizes the sensors and camera on the phone, or of an independent dashcam connected to the application, to create objective and data filled collision reports, along with video footage to provide the context necessary to fully understand what occurred during the collision as well as the critical seconds surrounding it. Their perception AI can classify, without human intervention, the type of collision, the amount of bodily and property damage sustained giving carriers the tools to determine the and the likelihood of at fault party. In a recent field test, Nexar demonstrated that their algorithms can turn sensor data from phones into identical, and sometimes better than, industry standard results. Nexar uses the information to provide FNOL (First Notice of Loss) and full create collision reports in minutes, as opposed to days. This not only reduces the rate of opportunistic fraud, but enables faster claims management, reduced operational costs, and a stronger relationship with policyholders, as results are clear and easy to understand. With Nexar, a phone can serve as a highly capable “black box” for recording necessary telematics data, such as images (pre, during and post), video footage (pre, during and post), driving path map, collision location, force and speed analysis, collision diagram, weather conditions, timestamps and more, and insurers can have a reconstruction report ready in minutes.