This week, we announced the deployment of the UK’s first Artificial Intelligence (AI) solution for the remarketing of vehicles.
ADESA IVI (Intelligent Vehicle Inspection) enables drivers to carry out their own inspection, using a smartphone or tablet, an agreed number of days before they hand back a company car or a vehicle they have financed through personal contract purchase (PCP) or personal contract hire (PCH).
The driver is guided through a simple and quick self-appraisal which includes a pre-defined image capture walkthrough. This removes the need for third-parties to provide inspections at end of contract, saving significant time and costs, especially when a vehicle needs repair.
AI is used to automatically assess any damage to produce a fully costed damage report based on the finance provider’s charge-out method and in accordance with the British Vehicle Rental and Leasing Association’s (BVRLA) fair wear and tear standards.
ADESA IVI enables end of contract vehicles to be remarketed online before they have been de-fleeted.
Managing Director, Jonathan Holland said; “ADESA IVI is fulfilling a critical need for the finance, fleet and leasing sectors by harnessing cutting-edge AI technology which will present significant opportunities to save time and money in the remarketing process and produce more accurate appraisals.
“By utilising AI we’re delivering a more accurate and transparent de-fleeting solution which will help improve relationships between fleet, leasing and finance customers by enhancing the customer experience.”
ADESA IVI also provides an end of contract quality compliance report, including an HPI check, with the car ready to be offered online on our UPSTREAM platform within hours of being appraised.
The AI-based technology behind ADESA IVI was developed by Emergent Network Intelligence (ENI), a Verisk business. The web-based solution is powered by advanced image recognition technologies using digital images to generate detailed repair information.