UVeye Partners With Insurer to Reinvent Appraisals

UVeye’s collaboration with Acadia Insurance is only the first step in boosting dealership profits, customer satisfaction and appraisal efficiency.

Nancy Dunham, Principal Analyst/Retail

March 13, 2024

2 Min Read
UVeye
Dealers that have UVeye can opt-in to collaborate with Acadia Insurance on vehicle appraisals.Getty Images

Dealers who want to boost their profits will want to consider the UVeye collaboration with Acadia Insurance.

Those dealers that have installed UVeye, an AI-driven automated vehicle inspection platform, will receive compensation – which the company declines to specify –  for allowing Acadia clients to use the system for appraisals. UVeye hopes the system will more accurately assess vehicle damage and streamline claims processing.

“We’re trying to find a way to basically create a more effective, efficient, accurate assessment process,” Daphna Meroz, UVeye’s senior director of strategic business development, tells WardsAuto. “Today you have an accident, you submit your claim, and then usually you have to wait for an appraiser to come to wherever you are. It’s not very convenient. Virtual appraisals take the process to the next level and create a better customer experience.”

About 200 dealerships have UVeye installed in their service departments. Those dealers can opt-in to participate in the Acadia collaboration but are not automatically enrolled.

Those dealers that enroll will likely develop a new customer base, says Munoz.

“There are already quite a few advantages for those using the system,” she says. “A virtual inspection gives them (a look) at the full condition of the vehicle, including the roof and the undercarriage. An inspector is not going to crawl under a car to fully inspect it. The view (from UVeye) gives them a full picture of any damage.”

UVeye sees the partnership, which they plan to grow with other insurers in the coming year, as a standard for capturing the vehicle and damage in a “deep dive” through images.

 “Insurance has long been characterized by traditional, manual processes, but this boost of computer vision gives us a glimpse into the future,” says Keith Gleason, chief claims officer at Acadia Insurance. “We’re proud to work with UVeye to pioneer this transformative AI-driven approach, introducing a new standard in insurance claims management, one that prioritizes accuracy, efficiency, safety and ultimately, customer satisfaction. It’s a win-win for both the insurer and the insured.”

 And the dealer, too, of course.

 

About the Author(s)

Nancy Dunham

Principal Analyst/Retail, WardsAuto

Nancy Dunham is a former staff member or contributor to NADA publications, US News & World Report, Automotive News, MotorTrend and other automotive and general interest publications.
Contact her at [email protected] or

https://www.linkedin.com/in/nancydwrites/.

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