Tractable is applying artificial intelligence to auto insurance claims operations, helping to speed up the process for customers. Using computer vision to assess photos of car damage, the artificial intelligence technology is capable of understanding vehicle damage like an expert human appraiser and providing an appraisal as soon as photos are submitted by a user.
With AI, a process that would ordinarily require days and human power has been turned into a solution that frees up time and takes mere minutes. The technology is helping to take inefficiencies out of the claims process so that other decisions made on insurance and repairs can happen quicker. As Alex Dalyac, Tractable co-founder and CEO, puts it: "Computer vision is accelerating accident recovery; the technology is here, it's on the ground and it's making a difference."
AI Insurance Apps
Tractable Accelerates Accident & Disaster Recovery with Artificial Intelligence
Trend Themes
1. AI-assisted Insurance Claims - Using AI to assess and appraise vehicle damage is optimizing the insurance claims process, leading to faster accident recovery times.
2. Computer Vision Technology in Auto Industry - Implementing computer vision technology into the auto industry is revolutionizing the way we inspect, evaluate, and repair car damages, creating opportunities for innovation in claims handling and vehicle maintenance.
3. Artificial Intelligence in Customer Service - Integration of AI into the customer service industry is leading to faster claim resolution and improving customer satisfaction, creating new opportunities for business growth.
Industry Implications
1. Insurance - Insurance companies can adopt AI-assisted claims processing to optimize efficiencies and reduce claim resolution times.
2. Auto Manufacturing - Auto manufacturers can implement computer vision technology to detect and fix vehicle damages, improving the quality of their products and reducing recall costs.
3. Customer Service - Customer service industries can utilize AI to speed up the claims resolution process, improve customer satisfaction, and increase retention rates.