AXA Group subsidiary AXA UK has begun piloting a machine learning tool called Repair or Replace Intelligence (RoRI) to help in taking accurate decisions regarding motor claims.
The tool compares the cost of repair with the cost of total loss based on a group of predictive models.
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The cost of repair depends on the type of damage, parts needed, labour required, and whether the repairer is approved or not.
The cost of total loss is calculated as the replacement cost minus salvage.
RoRI collects relevant data from phone conversations with customers and makes use of machine-learning tools to evaluate how much it would cost to fix the car and to write it off.
Claims executive managing director Waseem Malik said: “Claims analytics is at the centre of our business strategy, which relies on data-driven insights.
“We believe that by empowering our people through technology, we will get closer to our customers.”
Claims analytics head Michael Calvert said: “For a car owner, it can be frustrating to wait for your vehicle to be repaired only to find out later that it actually needs to be written off.
“We want our customers to have a smooth claims journey. The best way to do that is to innovate and to support our employees.”
The pilot is underway in the Ipswich office and later this year, AXA plans to integrate RoRI into the Guidewire software used by AXA Claims.
