Admin Plus, a provider of short-term insurance in South Africa, will utilize HYLA’s patented Machine Learning (ML) technology which remotely determines whether a mobile device is functional and free of screen damage prior to insuring, thereby significantly reducing its risk exposure to fraud.
“In the past, insurance companies needed to physically inspect devices in-person to accurately assess their condition or accept the risk of fraud while selling device insurance. With the implementation of HYLA’s Advanced Diagnostics, our inspections can be completed remotely, thereby reducing the risk of fraud while increasing the convenience to our customers,” said Mark Clark from Admin Plus.
HYLA’s Advanced Diagnostics leverages patented AI technology to determine the condition of a device – specifically, whether it functions as expected (e.g. digitizer, cameras, accelerometer) and that the screen is not damaged. To complete the screen assessment, the app captures an image of the screen and processes it via a cloud-based Machine Learning algorithm, which provides a crack/no-crack response in less than 2 seconds.
Further, it employs advanced fraud detection by capturing the unique International Mobile Equipment Identity (IMEI) number that can be recalled and matched to any future claims made for the device.
“HYLA is excited to partner with Admin Plus to bring our unique and globally patented technology solution to its customers. We have seen rapid adoption of our AI-based diagnostics in the mobile device insurance and protection space across Europe, Asia, the U.S. and now Africa,” said Joe Settimi, Senior Vice President and General Manager, Emerging Business Group, HYLA Inc. “This technology is a key enabler to offer protection to those customers who did not avail of such opportunity at the purchase of the device,” added Settimi.
Admin Plus alongside HYLA are excited to introduce this technology into the South African market, with Admin Plus the sole licensed entity in the country to offer this solution.