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Source: L’ARGUS de l’assurance as of 26-03-2020

The British insurer uses  artificial  intelligence  to  assess   damage to   a  vehicle following an accident to quickly establish the repair estimate..

 When it comes to l’  innovation,  artificial intelligence  (AI)  continues  to feed  many  operational  insurance applications.  

Ageas UK, the  UK subsidiary  of the    Ageas  Group,   announced on Thursday (March  26th)  that it will use an AI solution,   developed  by  technology company  Tractable,for  damage assessment suffered  by the vehicles. Tractable’s AI  generates  the  associated   repair quote  and guides the  claims management  process. .  Advantage:    The insurer  can  manage  the auto  claims process  much faster.  

How does it  work?  

In order to make  the   quote, the customer  will have to send the photos of the damage using his smartphone at  the time  of  the accident report. The  insured receive    in a few minutes the  decisions of Ageas  regarding  the  steps  to  follow. The AI  will identify the parts of the  vehicle  that  have  been  damaged  and the  level  of  severity. It  will carry out  a  full  evaluation  including    recommended  operations,   painting  and  assembly, as well as  associated repair  costs – including  manpower hours.  

 “By  En  using  Tractable’s AI, we  have  improved  our claims    management by better    supporting    our affected customers  and  helping   our  repairers assess s repairs  to be carried out. confirms   Robin  Challand,  Director  of  Sinistres at Ageas.

Deep learning and machine learning

Tractable’s  artificial intelligence uses deep learning  and  machine learning techniques. .AI  is  formed  from millions of photos of  damage    to cars.  Algorithms  train by  analyzing    a wide    variety number of accidents,”    says  Tractable.

After  a successful testing phase in the  UK  in  2019, Ageas and Tractable  will  now  expand the use of the solution  to  handle thousands  of  claims  each  month..

Tractable’s AI has handled  more than $1 billion in auto claims for the world’s  largest  insurers including Covéa, on the  French market,   Tokio  Marine,Japan,  Japonand  Talanx-Warta,-Warta  the world’s   en   second largest car insurer Poland.

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