INAIT Bumpt wins Swiss Insurance Awards First Prize

Lausanne based INAIT is the big winner of this year’s Swiss Insurance Awards. Contacted by Startupticker.ch, CEO Richard Frey tells us: “This award is a testament to Inait’s dedication to innovation and our commitment to revolutionizing the insurance industry with cutting-edge technology.” He adds: “We are delighted that our technology innovation in Bumpt has been acknowledged by a panel of insurance expert judges. This recognition affirms our commitment as an AI innovator, applying deep-tech expertise to address challenging industry issues.”

Drawing on the most advanced research in neuroscience, the private spin-out of EPFL's Blue Brain project has created digital models that extract the biological properties of the brain. The team combines this knowledge with existing deep learning models to develop customized, high-performance AI components. INAIT's technology is deployed in a wide variety of use cases in several different markets, such as advanced damage assessment with Bumpt, a significant breakthrough for damage detection. Bumpt uniquely combines video analysis, 3D modeling and advanced computer vision to automatically and accurately identify the type of damage, affected parts and severity of damage on vehicles.

INAIT is an AI deeptech co-founded by the world-renowned neuroscientist, Henry Markram. Its team comprises world-class experts in neuroscience, mathematics, data science, engineering, as well as dedicated specialists in product and business management. Its journey has been marked by significant achievements, including successfully raising over CHF 50 million in two seed rounds in 2018 and 2020. A first milestone was the validation of its digital brain technology for AI image processing. Several commercial milestones were reached by delivering impactful solutions for a diverse range of industry applications (Bumpt, Focale, Topic Explorer, Commodity and Equity Trader). The team is now able to demonstrate tangible business value creation directly through the superior performance of its neuro-inspired technology.  

Scaling to seize new opportunities 

After initial successful technology spinouts, the deeptech led by Richard Frey is scaling its team from core research to business development. The CEO explains: “We aim to bring our AI to a broad range of business applications and are actively looking for new industry challenges. We are planning to raise additional funds in 2024. We are currently 40+ staff, in Lausanne and elsewhere, with 16 nationalities and over 50% PhD level experts.”

(ES)