Tractable
Company Summary
Tractable applies computer vision and machine learning to automate damage assessments. Its AI appraises vehicle and property images to speed up claims processing. The platform helps insurers, repairers, and recyclers handle inspections up to ten times faster—making recovery from accidents and disasters both quicker and more efficient.
The Problem
Claim assessments take too long and require manual labor. Adjusters often wait weeks to inspect damage. This leads to slow payouts, customer frustration, and high operational costs for insurers.
The Solution
Tractable’s AI scans customer-submitted photos to estimate repair needs instantly. It identifies damage, recommends parts, and predicts repair methods—all in minutes. The system supports both vehicles and properties and scales across large insurance operations for fast, consistent assessments.
Funding
In July 2023, Tractable raised $65M in a Series E led by SoftBank’s Vision Fund 2, with follow-on funding from Insight Partners and Georgian Partners. Prior rounds brought total funding to $115M before this latest investment.
Founders
Alex Dalyac
Founding CEO
Alex studied Econometrics at the London School of Economics and began his career at a hedge fund and at Rocket Internet. He also completed a conversion Master’s in Computer Science at Imperial College London and was named on Forbes’ “30 Under 30 in Technology” list.
Razvan Ranca
CTO
Razvan completed his undergraduate degree in Artificial Intelligence and Computer Science at the University of Edinburgh. At the University of Cambridge, he persuaded one of the country’s leading Machine Learning professors to supervise his studies, wrote poker bots and algorithms, and completed his MPhil with distinction.