Accidents and natural disasters cause roughly $1 trillion of damage each year, so Tractable is tackling a massive problem.
Recovery typically starts with damage appraisal to assess how much it's going to cost and unlock the costs to rebuild. However, getting those appraisals takes a lot of time and this delays rebuilding. Tractable use AI and computer vision to do the same job ten times quicker.
The company initially focused on car damage and developed a customer base of major insurers such as Admiral, Aviva and Geico. This has served the company well as it expanded into adjacent verticals such as property insurance and auto salvage, where the same companies could apply Tractable's technology to their insurance products in those areas.
Following a substantial 2021 Series D funding round which saw the company exceed a $1 billion valuation, Tractable is now officially the UK’s first computer vision Unicorn company. This tremendous growth combined with the rapidly growing capabilities of computer vision points to a very bright future for Tractable.
Freddie
Company Specialist at Welcome to the Jungle
