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.