BDEO is a Spanish FinTech that is revolutioniz- mans, immediately providing an assessment ing the insurance industry… an industry getting of the damage. BDEO no rest to innovate, whether in connection with policies structure, new coverage types or its own BDEO, which commenced with four people, was technological solutions. In this context, BDEO formally incorporated as a company in 2017. www.bdeo.es wants to become a provider solving the problems Support from banks and accelerators has been of these companies. essential, as well as financing from the Centro (CDTI). para el Desarrollo Tecnológico Industrial It was rooted in Noaris, an insurance company BDEO has participated in Protechting in Portugal, that detected frauds by advisors in cahoots with BBVA Open Sandbox, F10 and Startupbootcamp insureds to report inflated damages, generating FinTech Mexico City. excessive disbursements and making frauds to refurbish homes. Noaris’ solution was to create Although BDEO commenced with a solution for an app through which the insured reports dam- real property policies, each market is different ages without the intervention of an advisor. This and in Mexico it is leading a car insurance app was called “Reparanet”, which inspired Julio project with Ana Seguros. This app works for Pernía and his team to develop BDEO: inspection smaller damages such as broken glasses and tool for experts and insurance companies using a individual collisions, where there is no other car remote connection through the insureds’ mobile or individuals involved:‒almost 45% of casualties. phone camera. Julio left Noaris to innovate the video claim, simplifying the process to claim This same model can be replicated for any com- casualties and suppressing timeouts. With BDEO, pany, since each company may add its branding adjusters do not have to move around the city and colors so that its clients may have the cer- to attend the users’ call, they may make any tainty of dealing with its insurance company. adjustment anywhere, attend thirty casualties Currently, BDEO has clients in Spain, Portugal, instead of five, reduce investment costs for Switzerland, Guatemala and is already working insurance companies, save fuel and reduce the with eight companies in Mexico to pilot this environmental print currently generated by the technology. cars or motorcycles transporting the adjusters. Currently, BDEO explores the possibility of virtual adjusters and a chatbot that, through machine learning, may be able to recognize the damage to the vehicle with no need to interact with hu- A TWO-WAY PATH 84