Ageas has partnered with techfirm Tractable to use artificial intelligence (AI) to create complete assessments and estimates of vehicle damage.
The new AI solution supports complex tasks including identifying the damaged part of the vehicle.
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In addition, it can also evaluate the damage and generate a full estimate including recommended repair, paint, and blend operations.
The damage is evaluated based on the photos provided by repairers, appraisers, or policyholders.
The insurer said that policyholders will now receive decisions on the next steps from it within minutes of reporting the accident by submitting a photo through their smart phones.
Furthermore, it will enable company to process and settle the claims quickly.
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By GlobalDataThe technology has completed successful trials in the UK.
Ageas director Robin Challand said: “At Ageas, we work to make insurance easy for our customers by delivering a best-in-class service. We look to digital innovation to help us deliver this.
“We realised that Tractable’s cutting-edge technology could make a real difference to our customers in the aftermath of an accident and by using Tractable’s AI we have improved our claims experience by supporting customers when they report claims and assisting our repairers in the early assessment of what’s required.”
AI solution uses deep learning for computer vision and machine learning techniques.
It is trained on many millions of photos of car damage.
Over $1bn in auto claims is claimed to be processed by Tractable’s AI for some of the world’s top insurers including Covéa and Tokio Marine.
