Tractable (company)

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Tractable (company)
Private
IndustryTechnology
Founded2014; 8 years ago (2014)
Founder
  • Alexandre Dalyac
  • Razvan Ranca
  • Adrien Cohen
Headquarters
United Kingdom
Area served
Operates in over 13 different countries across Europe, North America, and Asia
ServicesArtificial Intelligence for accident & disaster recovery
Number of employees
140
Websitetractable.ai

Tractable is a tech company, based in the UK, that has developed Artificial Intelligence (AI) that assesses damage to property and vehicles through visual analysis.[1] The AI allows users, such as insurance companies, to appraise damage digitally and accelerate claims more quickly.[2]

Technology

Tractable's technology uses computer vision and deep learning to automate the appraisal of visual damage in accident and disaster recovery. It focuses predominantly on automotive damage, using an image recognition application that assesses damage to a vehicle. Drivers can be directed to use the application by their insurers after an accident, with the aim of settling their claim more quickly.[3]

History

Alexandre Dalyac, Razvan Ranca, and Adrien Cohen founded Tractable in 2014. The company has since processed over $1 billion in auto insurance claims around the world, and the team now consists of more than 140 staff members based in London, New York, and Tokyo.[4] The company operates in over 13 different countries across Europe, North America, and Asia, with key partners including Ageas, Tokio Marine, and Covéa, amongst others.[4][5][6][7]

Milestones

Tractable was named by CB Insights as one of the 100 leading AI companies in the world in 2020,[8] and was ranked 5th by the Insurance Post in the InsurTech100 2020, which recognises the leading insurtech companies in the world[9] . It was recognized as an InsurTech 100 company by FinTech Global in both 2018 and 2019[10] and as one of the top top InsurTech companies in the world by DIA in 2018 and 2019. It was also named Best UK Startup by Startups Magazine in 2020.

Founders Alex Dalyac and Razvan Ranca were named in the Forbes 30 Under 30 Technology list for Europe in 2020.[11]

In the media

              

References

  1. "Tractable is applying AI to accident and disaster appraisal". TechCrunch. Retrieved 2020-09-12.
  2. Volpicelli, Gian (2020-05-20). "Had a car crash that wasn't your fault? This AI has the answers". Wired UK. ISSN 1357-0978. Retrieved 2020-09-12.
  3. Walker, Peter. "Ageas uses AI for car damage estimates". FStech. Retrieved 2020-09-12.
  4. 4.0 4.1 Coleman, Alison. "Four Insurtech Startups Shaking Up The Insurance Industry". Forbes. Retrieved 2020-09-12.
  5. Dyson2017-10-26T08:28:00+01:00, Ben. "Ageas AI partner Tractable takes its claims product to next level". Insurance Times. Retrieved 2020-09-12.
  6. "Tractable claims $25M to sell damage-assessing AIs to more insurance giants". TechCrunch. Retrieved 2020-09-12.
  7. "Tractable raises $25 million for computer vision that accelerates insurance claims". VentureBeat. 2020-02-27. Retrieved 2020-09-12.
  8. Review, Asia Insurance. "Japan: Tokio Marine becomes first major insurer to use AI to analyse auto damage". Asia Insurance Review. Retrieved 2020-09-12.
  9. "Artificial Intelligence Companies & Startups l CB Insights". CB Insights Research. 2020-03-03. Retrieved 2020-09-12.
  10. "Top 100 Insurtech Firms 2020: Sønr Comment and Tables". Insurance Post. 2020-06-01. Retrieved 2020-09-12.
  11. "30 Under 30 Europe 2020: Technology". Forbes. Retrieved 2020-09-12.

External links

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