Jas Maggu

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Automated Damage Detection using AI to Increase Claim Efficiency

Galaxy.AI has built a deep learning engine for analysis of images to give real-time automated damage assessment for the property and casualty insurance industry. The first industry we are targeting is auto-insurance, where we make the claim estimation workflow for insurance carriers efficient by cutting the estimation time for claim appraisers by more than half and reducing the loss adjustment expenses by 70%. Our product has potential of saving up to $18M annually for a large insurance carrier that transacts 300K claims every year on average. We work with national and international insurance companies that are among top 10 general insurers in 3 countries, US, Australia and India, and we have a global pipeline with insurers in North America, Europe and Asia. Our product is in live deployment with national insurance carriers.

3 Key takeaways: 1) AI and computer vision leveraged to get high-quality input 2) Highly accurate damage detection needed to calculate the accurate claim estimate 3) Leverage experts to train the AI and address edge cases

Jas is the CEO and founder of Galaxy.AI (www.galaxy.ai). She has been part of the boards of early-stage companies and advised companies on business strategy and development. She has been a founder of a start-up previously and has also worked with several technology companies as part of a Venture Capital and Private Equity funds across various industry verticals. She has worked in three other countries apart from the US – UK, Canada, and India. Jas has also received a Commonwealth Scholarship offered by the University of Cambridge from where she graduated with her Masters and also holds Bachelors in Engineering from Panjab University.

Galaxy.AI has built a deep learning engine for analysis of images to give real-time automated damage assessment for the property and casualty insurance industry. The first industry we are targeting is auto-insurance, where we make the claim estimation workflow for insurance carriers efficient by cutting the estimation time for claim appraisers by more than half and reducing the loss adjustment expenses by 70%. Our product has potential of saving up to $18M annually for a large insurance carrier that transacts 300K claims every year on average. We work with national and international insurance companies that are among top 10 general insurers in 3 countries, US, Australia and India, and we have a global pipeline with insurers in North America, Europe and Asia. Our product is in live deployment with national insurance carriers. Galaxy.AI has created an innovative Edge AI product. We would like to showcase and demo our latest product that has the Edge AI capability on the cell phone. Our team realized that the end-user would need to be guided to click the best quality pictures. We created an AI algorithm which guides the end user based on if the vehicle is in the mobile frame or not, the distance of the end-user from the vehicle, clarity of image, obstruction, light and reflection on the vehicle. The app. also detects damage in real-time as the user moves the mobile frame over the damaged area. The unique tech. Is the set of AI algorithms running on the native mobile app. itself and using edge computing power of the cell phone. This product has received tremendous interest from our customers and our customers view it as the cutting edge technology which they want to deploy with the insured end-users today.

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