Bdeo, the Spanish insurtech, has closed a funding round after reaching 1 million euros with Spanish firms Big Sur Ventures and K Fund. Julio Pernía Aznar, CEO, and co-founder of Bdeo, stresses the importance of this milestone for the company: “It is important not only for the financial backing it entails but especially for the strategic support we have received from two of the most important investment firms on the Spanish stage”.
According to a PwC study carried out in 2018, 85% of insurance company CEOs believe they do not have the technological capabilities necessary to take on digital transformation.
Bdeo facilitates the digital transformation process of these companies thanks to its visual intelligence solutions, generating savings in operational costs that exceed 70% while radically improving the insured party’s experience.
Bdeo works primarily with insurance companies to digitize the processes involved in purchasing a policy and opening new accounts, as well as the claims process, from activation to damage assessment.
“The product has been developed, and we are already seeing successful implementation in Europe and Latin America. The goal of this round is to strengthen the existing team in order to grow the company, consolidating ourselves in the markets where we already operate as the leading visual intelligence solution for conducting business”, says Pernía.
BDEO offers a revolutionary automated processing and claims adjustment solution for insurers. It proffers dramatic efficiencies for the insurer while generating a strong impact on the insured party’s satisfaction. The contracts being signed on both sides of the Atlantic are a testament to its value contribution”, asserts Big Sur Ventures.
“Selling to insurers is not a trivial process, although it ceases to be a challenge if integrating the technology saves several million euros. We spoke with different insurance companies, and they all agreed that BDEO had the best product that was most geared towards improving the user experience. This and their commercial reach in Europe and Latin America made it impossible not to choose them”, says K Fund.
This is undoubtedly more good news for the Spanish technological ecosystem, which continues incorporating innovative technology companies with high growth potential who are transforming the industries in which they operate.