Home News Rohan Malhotra, Founder & CEO of Roadzen – Interview Series

Rohan Malhotra, Founder & CEO of Roadzen – Interview Series

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Rohan Malhotra, Founder & CEO of Roadzen – Interview Series

Rohan Malhotra is the CEO, founder and director of Roadzen, a worldwide insurtech company advancing AI on the intersection of mobility and insurance.

Roadzen has pioneered computer vision research, generative AI and telematics including tools and products for road safety, underwriting and claims. Firms like Axa, Allianz, Tata, and Audi use Roadzen to supply a greater auto insurance experience to each driver on the road. Previously, Mr. Malhotra served because the Chief Executive Officer of Avacara, an enterprise software and data analytics company that provided product development services to Fortune 500 corporations. Mr. Malhotra holds a bachelor’s degree in engineering from NSIT, Delhi University, India and a master’s degree in electrical and computer Engineering from Carnegie Mellon University where he studied AI and robotics.

What initially attracted you to computer engineering and machine learning?

I used to be drawn to robotics at an early age, captivated by the thought of making machines that would perform tasks autonomously. This fascination with robotics served as my gateway into the sphere of computer engineering. As I learnt more, I observed that hardware may be abstracted into software and developed an interest in constructing systems that scale and learn. Now, we apply these ideas at Roadzen to make cars more intelligent and the legacy world of insurance dynamic and real-time.

Could you share the Genesis story behind Roadzen?

Roadzen was born out of a frustrating experience in 2015, when a friend’s accident led to coping with long delays in getting roadside assistance, several phone calls to file a claim over 4 and a half hours. This difficult episode sparked the appliance of my AI expertise towards enhancing road safety and reworking the auto insurance industry.

How does Roadzen use computer vision to evaluate the worth of a vehicle?

Roadzen uses computer vision through its vehicle inspection and assessment platform VIA to find out the worth of a vehicle. VIA employs AI, machine learning, and high-definition imaging to conduct digital vehicle inspections, overcoming the challenges related to manual inspections, resembling human error, subjectivity, and processing delays.

The technology provides a comprehensive view of a vehicle’s condition by integrating real-time data and historical records. The pc vision capabilities of VIA enable accurate damage recognition and underwriting, by leveraging tens of millions of underwriting decisions. It also incorporates fraud detection through automated evaluation of patterns and user behaviors. The platform ensures high transparency with customizable access control for insurers in the course of the inspection and underwriting process.

VIA contributes to seamless, efficient, and transparent vehicle inspection and underwriting, expediting the method while delivering reliable evaluations through dynamic reports and real-time notifications.

The identical technology is used after accidents, could you discuss the method for purchasers and on-ground inspectors?

Roadzen’s claims management technology is able to recognizing any automobile part and identifying ten sorts of damage in lower than a second, this technology significantly expedites the claims process. It shifts the claims process from reactive to proactive, triggering the claim process when an accident occurs, allowing customers to process their claims on the accident site as a substitute of waiting for weeks.

Roadzen’s automated claims platform xClaim, seamlessly engages customers and insurance carriers in an efficient claims process. Customers can swiftly report incidents through an app, providing initial visual documentation through video and pictures taken by the shopper, or remotely engaging inspectors for accurate damage recognition inside minutes. The system also incorporates fraud detection, enhancing the integrity of the claims process. The platform delivers dynamic reports and real-time notifications which expedite claims processing, while dedicated customer support ensures transparency and assistance for all stakeholders. The platform’s customizable access control enhances customer experience, while making a digital record of knowledge accessible for future reference.

Roadzen offers real-time driver safety data, are you able to discuss how the AI analyzes how protected a selected driver is? How is that this information then used for accident prevention?

Once we mix the predictive capabilities of AI with real-time data, it paves the best way for truly dynamic and effective driver safety – where the extent of risk a person to at any given moment may be assessed and alerted against.

Roadzen’s comprehensive telematics suite incorporates a pc vision system that identifies driver behavior patterns. This method utilizes real time vehicle data and applies computer vision for crucial decision-making resembling time to collision, accident prevention, and obstruction detection.

Certainly one of Roadzen’s key innovations is distraction monitoring. With advanced face detection technology installed in vehicles, the system can discern if drivers are drowsy, distracted by their phones, or not wearing seat belts. This proactive approach can significantly decrease accidents attributed to distracted driving.

Roadzen has successfully tackled road object detection, one of the vital complex challenges in computer vision. The technology can accurately gauge the space between vehicles, a critical preventive measure in stopping collisions.

While a human driver typically needs 1.3 seconds to react before an accident, Roadzen’s technology can alert the motive force roughly 3 seconds prior, effectively tripling the response time. This might potentially eradicate 60% of accidents attributable to human error or distraction, marking a major breakthrough within the insurance sector.

Roadzen’s technology stack uses telematics to compile this data, create a comprehensive driver profile, and supply a dynamic quote tailored to every driver. This individualized approach enhances risk assessment accuracy and ensures fair premium pricing based on personal driving habits and conditions.

What are among the other AI and machine learning technologies which are used at Roadzen?

Roadzen is targeted on advancing AI through fundamental and applied research, with a specialized focus on the intersection of mobility and insurance. The AI Research team at Roadzen (AIR) is committed to deepening our understanding in critical areas including computer vision, generative AI, and core machine learning.  Computer vision allows machines to interpret and act on visual data, a critical function in mobility and insurance resulting from the wealthy information visual inputs provide. Moreover, we put significant effort into Machine Learning Operations (MLOps), which streamlines how our teams train and deploy models accurately and swiftly. We also use synthetic or generative AI to speed up model training.

What are among the challenges that the combination of AI brings to the insurance sector?

Challenges include navigating complex data structures, coping with legacy data, and managing quality data sets from the sheer volume of information being generated. It is vital to deal with potential issues around data privacy, security, and algorithmic bias to construct trust and make sure the equitable use of AI in insurance. Development of open and responsible AI goes to be crucial to making sure fair practices, stopping bias in AI-driven decision making, and safeguarding customer data.

Could you share your vision for the long run of insurance and AI?

Because the landscape of mobility transforms where a majority of cars will probably be connected and autonomous, AI has the potential to create a more efficient, customer-centric insurance ecosystem for connected mobility.  Predictive modeling for risk assessment, will result in more accurate pricing and higher risk management. AI and advanced analytics, will enable insurers to anticipate customer needs, personalize offerings, and improve customer experience.

With advancements in computer vision and telematics, we’ll see major strides in accident prevention and improved driving behavior. This may result in fewer claims, reduced costs, and safer roads.

Automated damage assessments will streamline the claims process, making it quicker and more objective. AI may even transform underwriting by making it faster and fairer, by assessing risk more accurately and eliminate human bias. And we’re working to make sure that this future is built on responsible AI principles.

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