The New European Standard for Car Repair and Claims
Streamlining the entire journey from damage assessment to repair completion through a single automated platform.
Redefining the Auto Repair and Insurance Claims Industry
In an era where efficiency and transparency are paramount, LoopIt.ai is setting a new standard for the European auto repair and insurance claims industry. Born from the 2023 EuroTeQ Collider program, a collaboration among leading technical universities like TU Eindhoven, Denmark Technical University, and Munich Technical University, LoopIt.ai leverages cutting-edge artificial intelligence to streamline the entire journey from damage assessment to repair completion.
Our mission is to transform a traditionally cumbersome process into a seamless, cost-effective, and transparent experience for all stakeholders—insurance companies, repair shops, leasing firms, and car owners.
Addressing Industry Pain Points
The auto repair and insurance claims process is plagued by inefficiencies. Traditional manual damage assessments, costing an average of €105 per vehicle, take up to nine weeks before repairs can even begin. For ABS Autoherstel, a Dutch auto-repair franchise with 80 outlets, this translates to €16.8 million annually for 160,000 vehicles.
Inaccurate assessments often lead to costly reassessments, while fraudulent claims—costing insurers €4 billion annually in Germany alone—drive up premiums and burden car owners. LoopIt.ai was developed in collaboration with ABS Autoherstel to tackle these challenges head-on, delivering a solution that is both innovative and practical.
Our WebApp Platform uses advanced machine learning algorithms to automate damage assessments, analyzing surface damage and predicting underlying component issues in just 15 minutes. By generating detailed bills of materials and repair cost estimates, LoopIt.ai reduces costs to a fraction of the traditional price, potentially saving ABS Autoherstel €13.6 million annually by lowering assessment costs to €3.2 million.
Our path of progress
From inception to innovation, tracking our milestones in transforming the auto repair and insurance industry.
At our core
We're driven by a commitment to transform the auto repair and insurance industry through practical AI innovation, collaborative partnerships, and unwavering transparency.
AI for the Real World
We build practical AI solutions that address real industry challenges, transforming a 9-week manual process into a 15-minute automated solution that saves millions and prevents fraud.
Innovation Through Collaboration
Born from the EuroTeQ Collider program, we partner with leading universities, industry experts, and student innovators to accelerate development and drive meaningful change.
Transparency and Trust
We deliver data-driven, fraud-resistant solutions that build confidence across all stakeholders—insurers, repair shops, and car owners—through clear estimates and seamless processes.
Meet the innovators
Siddharth Ganjoo
CTO - Business
Building systems to optimize processes and enhance decision-making
Bilal Khalil Shaikh
CMO & CPO
Heading product and marketing strategies to transform an old industry
Join Our Team
Open Position
Interested in what we do? We're always looking for talented individuals to join our mission.
Join Our Team
Interested in what we do? We're always looking for talented individuals to join our mission of transforming the auto repair and insurance industry.
Those Who Helped Us Along the Way
We're grateful to the many individuals & organizations who have contributed to our journey
A Growing Market Opportunity
The global automotive repair and insurance industry represents a massive and expanding market with significant opportunities for innovation and efficiency gains.
LoopIt.ai is strategically positioned to capture this market, starting with the Netherlands and Germany—Europe's largest insurance claims market—before expanding globally.
A Vision for the Future
LoopIt.ai operates on a SaaS subscription model, with pricing starting at €40 per automated damage assessment, catering to both small repair shops and large insurers. Our roadmap includes scaling across the EU, targeting the Netherlands and Germany initially, followed by broader global markets.
By leveraging AI to reduce costs, save time, and prevent fraud, LoopIt.ai is poised to become the new European standard for car repair and claims. We invite insurers, repair shops, and stakeholders to join us in transforming the industry.
Ready to transform your claims process?
Join leading insurance companies already using LoopIt.ai to streamline their operations