looks like someone used something sharp which penetraded paint and impacted the metal.
The dry denting will help to remove the deformity in the metal however such dents are not cured by dry denting 100%, as when they beat the metal hard it epands and become somehow visible.
Other option is repaiting, seems like the car is white which is a solid color and can be matched 99% unlike metallic paints.
depends upon ur insurance policy, if u insist on having a NON REPAIRED part then u mght get lucky and have a replacement fender painted from dealership, restoring the look of car.
otherwise they will repair it and repaint which will also be reasonable.