Tokio Marine is set to use an AI auto damage assessment solution created by technology company Tractableinto the claims process across Japan.
The AI solution, called Loss Adjuster Application, uses computer vision to look at photos of car damage.
Go deeper with GlobalData
Based on photos provided by repairers, appraisers or policyholders, the Al enables insurers to evaluate the damage to a vehicle.
The company will utilise the solution to understand the full range of repair decisions available to it. This includes recommended repair, paint, and blend operations, and the labour hours required.
In addition, the solution will speed up remote reviewing of claims from days to minutes and terminate inefficiencies from the process.
The company claimed that this is the first time that a major Japanese insurer has deployed an AI auto damage assessment solution into the claims process.
Tokio Marine Group deputy general manager Hidenori Kobayashi said: “In Japan, after an accident it can take 2-3 weeks to determine the amount that should be paid. By using Tractable’s world-leading AI to assess car damage, we expect to shorten that time considerably, cementing our position as a company proud to pioneer new technology that transforms the claims journey for our customers.”
Since 2018, Tokio Marine has been working with Tractable with the aim of improving appraisal operations that need complex visual assessments with a solution based on computer vision.
Following successful trials of the AI, Tokio Marine will now make use of Tractable’s technology at one of its claim service centres, with the potential to deploy it across the country.
Tractable’sAI is claimed to have processed more than $1bn in auto claims for the world’s top insurers, including Ageas, Covéa, and Talanx-Warta.
