Ageas UK partners with Tractable
Tractable , the London-based company offering an AI solution to assess car damage and estimate repair costs, has picked up a new partner. After successful trials in 2019, Ageas UK will use the solution to support some of the complex tasks that a human assessor would normally carry out when evaluating vehicle damage.
For the solution to work, policyholders upload pictures of the damaged vehicle using their smartphones. The AI then does the assessment and sends over the findings to the claims handler who makes the final decision. So far, Tractable’s AI has processed over $1 billion in auto claims for different insurers, including Covéa, Tokio Marine, and Talanx-Warta.
“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 realized 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.” – Robin Challand, claims director at Ageas.
“Ageas using Tractable’s AI to generate end-to-end estimates is a breakthrough for the insurance sector worldwide. By harnessing AI at the beginning of the claims process to assess damage and generate estimates, we accelerate every part of it, creating efficiencies for the insurer and greater clarity for the policy holder. With this partnership with Ageas, computer vision is today making a positive difference for people in the real world, by helping them recover from accidents faster. It’s the first time that a UK insurer is using AI to generate end-to-end estimates, and is a breakthrough in how computer vision – using computers to see and analyze images and pictures – is applied on a commercial basis at scale.” – Adrien Cohen, cofounder of Tractable.