Twin Vee PowerCats is putting financing at the centre of its digital overhaul, arguing that slow and inconsistent boat valuations are still the biggest obstacle to quicker loan decisions. It’s pushing AI boat valuation.
“One of the most significant barriers to a frictionless boat-buying experience is financing,” CEO and president Joseph Visconti says, adding that valuations – rather than lender reluctance – are what hold up approvals for two to three weeks in many cases. His push comes as the company rolls out its AI-driven Wizz Banger Valuator, a tool Twin Vee expects will standardise condition assessments and help banks and insurers shorten their processes.
Twin Vee’s programme seeks to bring the marine market closer to the speed and automation already normal in the automotive and real-estate sectors. Visconti says the industry has historically operated with disconnected systems, with dealers, customers, lenders and insurers each managing separate workflows. The company’s digital ecosystem aims to link the process.
At the centre of the initiative is the Wizz Banger valuator app (full details are available on the company’s website). The tool uses image-based AI to assess gelcoat condition, hull surfaces, cosmetic wear, oxidation, blistering, upholstery, deck and interior components, corrosion indicators, rigging, external engine condition and, where relevant, trailer condition. It generates a consistent condition grade that mirrors the approach of a professional marine surveyor, though engine hours and internal mechanical condition still require manual confirmation.
The platform then merges that condition data with analytics covering listing data, comparable and historical sales, depreciation and seasonality, regional pricing, demand patterns and model-specific trends. According to Twin Vee, this produces a third-party valuation free from manufacturer influence or subjective estimates.
Visconti says the company is in discussions with banks, insurance carriers, marine lenders, underwriting groups, dealer networks, valuation bodies and industry associations on potential integrations. These cover collateral-value systems, digital inspection alternatives, risk scoring, loan-approval protocols, insurance verification and unified data-exchange formats. He says early feedback from financial institutions is positive, particularly on reducing evaluation costs and shortening the financing cycle.
Twin Vee plans to release further detail on dealer activation and financial-partner integrations in the coming months.
The post Twin Vee aims to push AI digital valuations of boats into the mainstream appeared first on Marine Industry News.
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