Founded Year

2014

Stage

Series D | Alive

Total Raised

$119.83M

Valuation

$0000 

Last Raised

$60M | 1 yr ago

About Tractable

Tractable develops artificial intelligence systems for accident and disaster recovery. Its AI solutions process over $2B a year in vehicle repairs and purchases, and have been deployed by insurers across Europe, North America, and Asia, helping households recover from accidents faster.

Tractable Headquarter Location

The Bower 207 Old St.

London, England, EC1V 9NR,

United Kingdom

+44 20 3603 4460

ESPs containing Tractable

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTHMARKET STRENGTHLEADERHIGHFLIEROUTPERFORMERCHALLENGER
Fintech / Insurtech

Computer vision solutions leverage artificial intelligence to support digital recognition, enabling insurers to decrease costs and increase customer satisfaction. Using computer vision, underwriters can assess property risks without an on-site inspection, thereby reducing their operating costs and increasing their pricing and rating accuracy.

Tractable named as Leader among 8 other companies, including SightCall, HOVER, and Claim Genius.

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Tractable's Products & Differentiation

See Tractable's products and how their products differentiate from alternatives and competitors

  • AI Review

    AI Review allows insurers to review all claims processed and catch any potential inaccuracies in the claims process.

    Differentiation

    AI Review gives insurers oversight of their claims process, enabling them to monitor every claim and assess it with AI. This leads to significant efficiencies from capturing leakage, while saving de… 

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    Differentiation

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    Differentiation

    We're on a mission to enable every organization to make smarter decisions about tech. Whether it's finding a new game-changing vendor or understanding a new market, it's easier, faster and smarter with CB Insights. All made possible by the smartest, hardest-working team in tech. Subscribe to see more.

  • Subscribe to see more

    We're on a mission to enable every organization to make smarter decisions about tech. Whether it's finding a new game-changing vendor or understanding a new market, it's easier, faster and smarter with CB Insights. All made possible by the smartest, hardest-working team in tech. Subscribe to see more.

    Differentiation

    We're on a mission to enable every organization to make smarter decisions about tech. Whether it's finding a new game-changing vendor or understanding a new market, it's easier, faster and smarter with CB Insights. All made possible by the smartest, hardest-working team in tech. Subscribe to see more.

Expert Collections containing Tractable

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Tractable is included in 6 Expert Collections, including Unicorns- Billion Dollar Startups.

U

Unicorns- Billion Dollar Startups

1,112 items

A

AI 100

299 items

I

Insurtech

2,082 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

A

Artificial Intelligence

8,694 items

This collection includes startups selling AI SaaS, using AI algorithms to develop their core products, and those developing hardware to support AI workloads.

F

Fintech 250

500 items

250 of the top fintech companies transforming financial services

F

Fintech

4,692 items

Track and capture company information and workflow.

Tractable Patents

Tractable has filed 10 patents.

The 3 most popular patent topics include:

  • Insurance
  • Software patent law
  • Vehicle insurance
patents chart

Application Date

Grant Date

Title

Related Topics

Status

5/19/2021

2/22/2022

Insurance, Vehicle insurance, Insurance law, Compact cars, Parliamentary procedure

Grant

Application Date

5/19/2021

Grant Date

2/22/2022

Title

Related Topics

Insurance, Vehicle insurance, Insurance law, Compact cars, Parliamentary procedure

Status

Grant

Latest Tractable News

Tractable To Make AI-Enabled Straight-Through Processing Available To North American Insurers, Backed By Mitchell's Open Platfor...

May 4, 2022

Straight-through processing in automotive insurance claims will be available to US and Canadian insurers and repairers, backed by Tractable's AI and Mitchell's proprietary platform and data Integrated solutions designed to enable outcomes including low-touch auto insurance claims, speedy payments and claim settlement within minutes, provide a faster and smoother customer experience Tractable's AI now offers coverage of almost every external auto panel and part, enabling accurate assessment of damage to any vehicle New York, NY/PRNewswire/ - Tractable, the artificial intelligence company for accident and disaster recovery, today announces an enhanced collaboration with Mitchell , an Enlyte company and leading technology and information provider for the Property & Casualty (P&C) insurance and Collision Repair industries. The enhanced collaboration makes straight-through processing in auto insurance claims available, backed by Tractable's market-leading AI and Mitchell's comprehensive digital platform. The integrated solutions are designed to enable US and Canadian insurers and repairers to enact efficient, accurate outcomes - including low-touch auto claims, speedy payments and claim settlement - within minutes, providing a faster and smoother customer experience. The step forward for the collision ecosystem helps to both improve insurers' decision-making efficiency and give repair shops greater clarity over incoming claim flows, reducing waste and allowing for more accurate part procurement. Tractable enabled the first touchless auto insurance claim in October 2020, and the technology is now in operation in the UK, Spain and Italy, but this is the first time that straight-through processing, enabled with Tractable's AI, will become available to North American insurers and repairers. Alex Dalyac, founder and CEO of Tractable, said: "Straight-through processing is the gold standard for providing a better customer experience for policyholders. With our AI software and Mitchell's open platform and expertise, we can make straight-through processing a reality for US and Canadian drivers, auto insurers and repairers." In auto insurance, straight-through processing refers to touchless claims - i.e., those that take place mostly without manual intervention. For example, when a policyholder reports a simple auto claim to their insurer, AI can assess the damage and make repair suggestions. The insurer and repairer can retain a human in the loop, for example to sign off on estimates, or to check more complex claims. As well as benefiting repairers and insurers by increasing efficiency and transparency, policyholders benefit from a more efficient claim experience. After an auto accident, a web app can be used to submit photos of the damaged car and other data, and a repair quote is quickly displayed. This allows policyholders to take all the steps required to restore their mobility directly when they report an accident to their insurer: they can determine if the car is repairable, and - if it is - set up a speedy payment or kickstart repairs with the help of the app. Olivier Baudoux, senior vice president of global product strategy and artificial intelligence at Mitchell, said: "We remain committed to providing insurers with a flexible, open and turnkey claims automation solution. Our collaboration with Tractable and other leaders in the insurance ecosystem gives the industry its first real glimpse at the future of touchless estimating and straight-through processing." Tractable's AI now covers damage to over 80 panels and parts of a vehicle in the US, providing comprehensive assessment to any car, no matter the vehicle, make or model. About Tractable Tractable develops artificial intelligence (AI) to help people and businesses repair, protect and transact cars and homes. Founded in 2014, Tractable's industry-leading AI solutions process more than $2 billion in vehicle repairs and purchases annually and are globally trusted by leading automotive and insurance companies, including over 10 of the Fortune Global 500. Bringing speed, accuracy and efficiency, Tractable transforms visual assessment to accelerate accident and disaster recovery and vehicle inspections. To learn more about Tractable and schedule a demo, visit tractable.ai , or visit us on LinkedIn and Twitter . Source: Tractable

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