American Family Insurance, a US-based property and casualty insurer, has teamed up with Tractable to streamline its claims operations.
Under the tie-up, American Family Insurance Claims Services (AFICS) will use Tractable’s artificial intelligence (AI) solutions in its claims subrogation settlement process.
The AI will review requests made by one insurance carrier to another in a bid to facilitate “more faster, easier, and more consistent alignment” between parties, according to the companies.
American Family chief claims officer Chris Conti said: “We use technology to create efficiencies that result in our team members having more time and emotional bandwidth to be there for our customers like never before.
“Consolidating subrogation efforts is an important step toward reallocating our focus to creating better customer experiences.”
Leveraging AI, Tractable visually assess cars and homes for accident and disaster recovery. The firm’s AI-based solutions are claimed to process over $2bn in vehicle repairs and purchases every year.
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The London-based firm, which counts Insight Partners amongst its partners, has offices across Asia, Europe and North America.
Commenting on the latest partnership, Tractable co-founder and CEO Alex Dalyac said: “It’s an important milestone for us to partner with American Family, a Fortune 500 company regarded for its leadership in uncovering innovative and creative solutions for the industry.
“Working together, we combine the trust American Family has built as a leading P&C carrier with Tractable’s industry-leading AI, to demonstrate the real-time, commercial impact AI is having in insurance and beyond.”
Recently, US-based insurtech Root Insurance teamed up with Tractable to expedite its material damage claims processes using AI.