View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
January 30, 2019

Ping An rolls out smart auto insurance claim solution

Ping An Property and Casualty Insurance Company of China (Ping An P&C) has introduced a credit based smart auto claim solution for car owners.

Besides helping car owners to file claims in hassle-free manner, the credit based system promotes good driving habits.

The trial of the new solution was completed in Guangdong Province last month and it will soon go online across the country.

Through their mobile phones, drivers can file claims and receive compensation deducted from a dynamic credit quota, which is related to their driving behaviour and history.

In order to raise a claim request, the car owners will have to report the case to the insurance firm, upload relevant photos for an AI-assisted assessment and confirm the compensation online.

The new system will also allow car owners to check their credit quota via a mobile application, and the quota will change dynamically based on big data such as the user’s driving habits.

Good drivers with safe driving habits will earn larger quotas while credit quota will be cancelled to those who commit wrongdoings including fraud.

Ping An P&C deputy managing director Zhu Yougang said that the smart claim system aims to encourage more civilised driving habits and improve public transportation safety.

Yougang further said that the new system is based on the AI smart claims credit model built with including image damage assessment, OCR bills identification, and biometrics which minimises the complicated procedures.

The accuracy rate of the new solution is as high as 95%, and compensation will be offered within seconds through face recognition.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Life Insurance International