Portable and affordable hail dent scanning and estimating platform. Industry changing technology that is in its final stages. Our system utilizes artificial intelligence to count and size the dents on your vehicle that are caused by hail and produce a repair estimate in seconds. Other scanners on the market are semi-permanent structures that cost from $300,000 to 1 million dollars. The Mantis HDS will run about $60,000 dollars and will fold up small enough to fit in a pickup truck and a tool closet. This means that you can easily take it wherever you need it to be. It takes 15 minutes to set up and 5 minutes to take down and store. If a light or camera breaks, it's easy to replace so you can get back to work quickly.
The hail repair industry is a multibillion dollar industry. The current way that estimators write estimates for the repair of a hail damaged vehicle is to circle, count, and measure each dent to determine how many dents each panel has. Then they have to take the prevailing size (the size there is most of) and make all of the other dents reflect that size then compare the dent size and count to a matrix and do the math. This process usually takes an hour or more for vehicle. This process leads to a prolonged hail season that takes months to finish.
With the Mantis HDS, that process is reduced to minutes per estimate. To illustrate, if a technician is doing estimates by hand, he/she can complete 10 estimates or so in a 10 hour day. The Mantis HDS can easily complete at least 120 estimates in the same amount of time. That's assuming one estimate every 5 minutes. This efficiency will shorten the hail season by months. Why is this important?
Insurance companies send out catastrophe teams to hail stricken areas. These teams are made up of 10 or more people who will be on site for a couple of months doing estimates and coordinating repairs. The insurance companies will pay per diem and lodging for the entire time that they are there. Once the vehicles are estimated, they will make their way to a shop who will almost certainly send in a supplement request to repair all of the things that the estimators on the catastrophe team failed to write on the initial estimate. More time and money will be lost in this process.
The Mantis HDS is a one-time process. Once the AI is trained up, it will exceed 95% accuracy so that few supplements will be required. As we continue to improve the software, the size and scope of those few supplements will shrink. Faster, more accurate estimates mean a shorter hail season for the insurance companies. The ease of operating the scanner means that the insurance companies won't have to send out a large catastrophe team and those who go out will be back much sooner.
The repairer will also benefit greatly by employing a scanner in their operation. Writing an estimate or a supplement will be faster and easier for them as well. Because they can do more estimates in a day, they can capture more work in a day. It is conceivable that a shop can setup it's entire hail repair schedule in a week or a few days. Also, by using the hail dent scanner and its one and done estimating ability, the shop gets paid faster.
For the vehicle owner, it's peace of mind. She won't have to wait an hour or more just to get an estimate. The vehicle can be scheduled right away and the repairs can begin immediately once it gets in the shop. Estimates and repairs get done in record time.
Hail repairs can cost from a couple thousand dollars to well over ten thousand dollars. It is safe to say that on average a shop will get paid $6000-$8000 per claim. In a week the shop could pay off their scanner and the $6000 yearly subscription to the software. After the first year, the first or second repair will pay off the yearly subscription and the rest will go to the shop's coffers. How often do you get a win, win, win proposition?
Catastrophes can't be managed but the time and effort to deal with them can. I hope that you will join us in making this truly industry changing product a reality. We are a short 4-6 months from getting our product to market. But we can start selling as soon as we get the funding. Here's to us! May we have all the success in the world!
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