Start With Level, Inc. is an early-stage insurtech company founded in 2023 to address the issue of undervalued auto insurance settlements. The New York-based firm provides a technology solution for automotive finance companies to ensure they receive fair and accurate valuations on total loss claims. This helps clients minimize financial losses from deficiency balances and write-offs.
Appraisal AI is a proprietary software platform designed to audit insurance reports for valuation errors. The system uses artificial intelligence to analyze insurance appraisals within minutes, identifying discrepancies to ensure a fair market valuation for totaled vehicles. The platform is also built with a focus on security and regulatory adherence, having achieved SOC 2 Type 2 compliance.
Appraisal AI solves the problem of auto insurance carriers undervaluing vehicles during total loss claims, which directly helps automotive finance companies minimize deficiency balances and reduce the need for financial write-offs.
Target customers face significant financial losses when insurance carriers undervalue totaled vehicles, which results in higher deficiency balances on auto loans and increased financial write-offs.