MotionsCloud

insurtechclaimsartificial intelligence/machine learning

FOUNDING YEAR: 2016
LOCATION: Germany
Last Update: 08/09/2020

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About

MotionsCloud helps property and vehicle insurers to streamline and automate claims processes through mobile self-service, artificial intelligence (AI computer vision technologies) damage evaluation, and live video inspection technologies modules which can plug into existing claims systems. The solution reduces claims cycle time from days to hours, reduces claims processing cost up to 75%, and improves the customer claims experience Currently, MotionsCloud is serving clients in the US, Europe and Southeast Asia.

MEDICI Analysis

Mobile & AI claims solution for customers, claims experts, and insurers to digitize and automate non-life insurance claims. We speed up non-life insurance claims 8x faster than today and for insurers, it saves up to 30% of the claims expenses. Primarily, our focus is on non-life insurances, specifically in property insurance claims.

Focus

PRODUCTS & SERVICES

MotionsCloud provides an intelligent claims solution for P&C insurers to streamline and automate claims processes. The solution reduces cycle time from days to hours, reduces expenses up to 75%, and improves the customer experience with mobile, artificial intelligence (AI), and video-enabled technologies which can integrate with legacy systems

REVENUE MODEL

Paid per claim

PRIMARY PROBLEM SOLVED

Top problems in non-life insurance claims processes: - Tedious - Complicated - Time-consuming - Expensive to process - Often do not meet customer expectations

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

Traction

ACTIVE USERS:

1 Million in 2016

People

FOUNDERS

Pablo Duy K. Vu

BOARD MEMBERS AND ADVISORS

Lex Tan

NUMBER OF EMPLOYEES

1-10

INVESTORS:

Global Insurance Accelerator

KEY EMPLOYEES:

Alexis Hanke

COMMENT:

3 of us with more than 15 years experience in insurance,IT industry. Each of us won several awards such as HSBC Young Entrepreneur Award, EIT ICT Award,ASEAN Millennium future leader award.

Momentum

FUNDED

NO

NUMBER OF FUNDING ROUNDS

1

TOTAL FUNDING

$40 K

DATE OF LAST FUNDING

Sep 2019

SEED & PRIOR FUNDING

$40 K

SEED CLOSED ON

Sep 2019

LISTED

NO

Innovation Programs

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MotionsCloud

About

Mobile & AI claims solution for customers, claims experts, and insurers to digitize and automate non-life insurance claims. We speed up non-life insurance claims 8x faster than today and for insurers, it saves up to 30% of the claims expenses. Primarily, our focus is on non-life insurances, specifically in property insurance claims.

Focus

PRODUCTS & SERVICES

MotionsCloud provides an intelligent claims solution for P&C insurers to streamline and automate claims processes. The solution reduces cycle time from days to hours, reduces expenses up to 75%, and improves the customer experience with mobile, artificial intelligence (AI), and video-enabled technologies which can integrate with legacy systems

REVENUE MODEL

Paid per claim

TOP PROBLEM SOLVED

Top problems in non-life insurance claims processes: - Tedious - Complicated - Time-consuming - Expensive to process - Often do not meet customer expectations

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

KEY DIFFERENTIATORS

Mobile & AI technology to automate non-life insurance claims processes

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Others

Small And Medium Business - Other

PRODUCT ATTRIBUTES

SaaS

On-premises

White label

Customer facing

Traction

ACTIVE USERS/ACCOUNTS:

1 Million

LIVE USERS/TRANSACTIONS:

Yes, in trial/pilot

How will you grow the number of users/accounts/transactions?

To acquire more customers (insurers, claims handling companies)

CHANNEL STATUS

NO SALES YET

People

TEAM COMMENT:

3 of us with more than 15 years experience in insurance,IT industry. Each of us won several awards such as HSBC Young Entrepreneur Award, EIT ICT Award,ASEAN Millennium future leader award.

Momentum

FUNDED

YES

TOTAL FUNDING:

$40 K

LISTED

NO

SEED & PRIOR FUNDING

$40 K

FUNDING SERIES