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Admiral Seguros to use Artificial Intelligence to assess vehicle damage
An insurer in Spain – Admiral Seguros, the Spanish subsidiary of global insurer Admiral – is using Artificial Intelligence (AI) to create damage valuations and to generate an offer of immediate payment on damaged vehicles.
To do this, Admiral Seguros is using an AI solution, developed by the technology company Tractable, which accurately evaluates vehicle damage with photos sent through a web application. The app, via the AI, completes the complex manual tasks that an advisor would normally perform and produces a damage assessment in seconds, often without the need for further review.
Upon receiving the assessment, Admiral Seguros will use it to make immediate payment offers to policyholders when appropriate, allowing them to resolve claims in minutes, even on the first call.
Tractable’s AI uses deep learning for computer vision, in addition to machine learning techniques. The AI is trained with many millions of photographs of vehicle damage, and the algorithms learn from experience by analyzing a wide variety of different examples. Tractable’s technology can be applied globally to any vehicle.
The AI enables insurers to assess car damage, shares recommended repair operations, and guides the claims management process to ensure these are processed and settled as quickly as possible.
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