Avidea
A startup specializing in the digitalization of automobile claims management and the fight against fraud.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
* | $700k | Seed | |
| Total Funding | 000k | ||
| USD | 2023 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Dealroom estimates
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Avidea is a Tunisian-based Insurtech company specializing in the digitalization of vehicle claims management for the insurance sector. Founded in May 2017, the company provides solutions designed to streamline the entire claims process, from initial notification to final settlement.
The company's target clients are insurance companies, and it operates on a B2B SaaS model. Avidea's platform is engineered to reduce the costs and time associated with automotive claims processing while concurrently enhancing the policyholder's experience and combating fraud. A significant milestone was achieved in February 2022, when Avidea secured 2 million Tunisian dinars (approximately $696,000) in a Pre-Series A funding round. This investment was led by Capsa Capital Partners and 216 CAPITAL FUND I, with the stated goal of recruiting new talent, expanding product features, and entering new markets.
Avidea offers a suite of products, including 'DigiClaim' and 'DigiFraud'. DigiClaim serves as a comprehensive platform that connects all stakeholders in a claim—the insured, claims handlers, agents, adjusters, and garages—through a single interface. It facilitates digital document exchange and instant messaging, and according to the company, manages 40% of car claims in Tunisia. 'DigiFraud' is an AI-powered tool that analyzes vehicle photos and leverages over 70 fraud detection rules to automatically identify suspicious claims. Another offering, 'DigiConstat', is a mobile application that allows policyholders to file a digital accident report directly from their smartphones, including features for vehicle identification, geolocation, photo uploads, and voice descriptions of the incident. This product was developed in response to the observation that a high percentage of Tunisian drivers do not carry physical accident report forms. The company has successfully deployed its solutions internationally, signing a contract with Al Madina Takaful, a leading insurer in Oman.
Keywords: Insurtech, insurance claims, digital claims management, automotive insurance, fraud detection, SaaS, B2B, Tunisia, claims processing, AI in insurance, DigiClaim, DigiFraud, DigiConstat, motor claims, policyholder experience, digital transformation, vehicle insurance, claims automation, risk management, claims settlement