(Image credit: Diana Parkhouse.)
The Hartford (Hartford, Conn.) has adopted Tractable’s (London/New York) AI solution to analyze auto damage within its auto insurance claims operations in the U.S., accelerating the speed at which claims can be processed for its customers.
Tractable states its mission as accelerating accident and disaster recovery with artificial intelligence. Tractable uses computer vision to assess photos of car damage, explaining that the AI understands vehicle damage like an expert human appraiser and returns an appraisal as soon as the user submits photos. The technology opens the door to a simpler, quicker claim process.
Using AI in this way can increase the speed of processing claims from days to minutes, removing inefficiencies from the process, helping insurers and repairers agree on repairs faster, and accelerating accident recovery for drivers, the vendor says.
“We are honored to announce this partnership,” comments Alex Dalyac, co-founder and CEO, Tractable. “We see this as a testament to the quality of our technology, the maturity of our solution, and the trust in our people. Computer vision is accelerating accident recovery; the technology is here, it’s on the ground and it’s making a difference.”
Tractable was cofounded in 2015 and has since raised $55M in venture funding, processing over $1 billion in auto claims for prominent global insurers, including Tokio Marine, the largest P&C insurer in Japan; Covea, the largest auto insurer in France; and Admiral, a leading insurer in Europe.