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Apr 8, 2021 9:30 AM

Digital claims management services for fleet operators: thyssenkrupp start-up carValoo and TÜV Rheinland sign cooperation agreement

  • Cooperation in digital damage detection and claims management

  • Start-up carValoo with new digital service for fleet operators

  • Cloud service reports and analyzes damage incidents in real time

carValoo GmbH and TÜV Rheinland have today signed an agreement to cooperate on digital claims management services for fleet operators. The central component of the joint project is a cloud service developed by thyssenkrupp start-up carValoo which provides fleet operators with detailed real-time intelligence on vehicle condition, damage incidents, and usage history. Based on this analysis, TÜV Rheinland can quickly and digitally check correlations, determine loss amounts and offer further expert services as required.

Dr. Tom Althoff, CEO of carValoo GmbH: “We offer fleet operators a highly precise AI-based damage recognition system for their vehicles. In addition, we integrate all relevant data seamlessly into our customers’ systems and processes. For its part, TÜV Rheinland can offer tailor-made claims management services. So our two business models are a perfect match.” Working in cooperation, the two companies plan to offer their services jointly and open up new customer groups.

Dr. Karl Obermair, Director Future Mobility at TÜV Rheinland: “For decades, TÜV Rheinland has been known for services of the highest quality and reliability. carValoo’s automatic damage detection system is impressive for its precision. Used in combination with our digital claims assessment, it offers significant added value by allowing us to assess damage more accurately and initiate the right follow-up processes straight away. With this joint project, we are augmenting our digital services to support the intelligent mobility of the future. These include for example our Trusted Data Center which supports the GDPR-compliant processing of vehicle data.”

At the heart of the carValoo cloud service is an AI application which reliably detects all kinds of usage or damage patterns from a vehicle's movement data. To record the data, carValoo uses an add-on sensor box which can be installed in any vehicle model in just a few minutes. Alternatively, the service can also be integrated into the customer’s existing hardware.

The associated carValoo web app provides fleet managers with real-time updates on the condition of their vehicles and automatic notifications of damage. Follow-up processes such as documentation, appraisal, and claims management are also carried out digitially and for the most part automatically via the app.

“Claims management is still mostly a manual and therefore extremely time-consuming process for fleet operators and end customers. Our goal is to make it faster, more accurate and less expensive. This includes being able to identify users responsible for unreported damage. Our cloud solution also helps increase the safety of high-usage fleet vehicles. Because our AI tool recognizes damage and wear not visible to the human eye, repairs can be carried out exactly as and when they are needed, increasing the safety of all users,” says Althoff.

In addition to damage detection, carValoo also provides complete transparency into use-related vehicle data, such as fuel consumption, battery power, tire pressure, and service alerts. Fleet operators can therefore carry out servicing more efficiently, save costs and increase vehicle safety.

Start-up carValoo was created in a corporate incubator at thyssenkrupp and has been operating as an independent company since 2020. Its customers include carsharing and logistics companies as well as car rental agencies who are already using the carValoo technology successfully.

thyssenkrupp in the automotive sector

thyssenkrupp is one of the leading suppliers and engineering partners to the international auto industry. Its products and services include materials, high-tech components and system and automation solutions for automotive OEMs. In fiscal year 2019/20 thyssenkrupp achieved sales of around 8.6 billion euros with customers from the auto industry.