(Image source: Pixabay.)
GEICO (Washington, D.C.) has engaged Tractable, a London-based developer of artificial intelligence (AI) solutions for accident and disaster recovery, to accelerate its auto claim and repair process.
Tractable describes its proprietary computer vision technology as trained on millions of historical claims and capable of assessing vehicle damage in a manner comparable to a human appraiser. By inserting Tractable’s AI into the process, the vendor says GEICO will be able to accurately review estimates within seconds while also reducing administrative overhead.
“GEICO customers know us for our speed of service and value,” comments Todd Combs, CEO, GEICO. “Tractable’s artificial intelligence solution delivers both, helping us review estimates more quickly and accurately, getting our customers back on the road faster.”
Tractable characterizes its solutions as addressing the often protracted nature of claims from filing to settlement. The vendor says a key driver of the time it takes to repair a vehicle is the ability for the insurer and the repairer to quickly review and agree on the repair operations. Tractable seeks to shorten that time with its AI.
Accelerating Accident Recovery
“We are honored to be chosen by GEICO, one of America’s largest insurers,” comments Alex Dalyac, Founder & CEO, Tractable. “We are committed to accelerating accident recovery with AI. Through this partnership, our AI will make a positive difference to millions of lives.”
Tractable reports that its AI processes over $2 billion a year in vehicle repairs and purchases, serving over 20 of the world’s top insurers, such as Tokio Marine and Mitsui Sumitomo, the largest auto insurers in Japan; Covéa, the largest auto insurer in France; and Admiral Seguros, the Spanish entity of Admiral Group.
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