(Photo credit: Shinichi Morita.)

Tokio Marine Holdings, Inc., a Tokyo-based global P&C insurance group, has become the first insurance carrier to license U.S. pay-per-mile auto insurer Metromile’s (San Francisco) Connected Intelligence Platform. Metromile has announced that it seeks license the platform to other insurers looking to take advantage of its artificial intelligence (AI) and machine learning to digitize, improve combined ratios, and provide a superior customer experience.

Metromile describes its AI platform as designed to provide real-time insights into a customer’s lifetime value and improve the claims journey through the collection and integration of targeted data throughout the customer lifecycle. The result is greater efficiency and a more premium customer experience, according to a company statement. The platform includes two core products, Customer Intelligence and Claims Intelligence that will be rolled out over the coming months.

“We are excited to expand the Connected Intelligence Platform’s reach beyond Metromile policyholders,” comments Dan Preston, CEO, Metromile. “The platform will significantly increase Tokio Marine’s ability to understand customer behaviors and respond to their needs while improving the claims experience through machine learning and automation.”

Industry’s Lowest Operating Cost

As the first carrier to license Metromile’s Connected Intelligence Platform, Tokio Marine Holdings will be able to provide a frictionless customer experience at the industry’s lowest operating cost through data and automation, the Metromile statement asserts.

“Metromile has built the most advanced claims automation process assisted by AI and machine learning, and we look forward to enabling our customers to experience a faster, no hassle claim filing with this technology,” comments Makoto Okada, Group Chief Digital Officer, Tokio Marine Holdings.

Metromile’s Connected Intelligence Platform currently includes two core products, described by Metromile below:

Customer Intelligence: Using advanced machine learning techniques, Customer Intelligence helps insurance carriers better target risk at an individual level across their marketing investments and throughout the policy purchase flow. It also allows for real-time underwriting on an individual customer basis.

Claims Intelligence: Harnessing machine learning to automate and identify fraud, Claims Intelligence expedites and processes the majority of auto insurance claims, drastically improving the customer experience while reducing Loss Adjustment Expense (LAE) and Loss Ratio (LR).

The Claims Intelligence product is powered by AVA, Metromile’s AI claims system, and includes the following, by Metromile’s description:

1. Claims Visibility Suite: The Claims Visibility Suite is made up of:
   1. AVA First Notice of Loss (FNOL):From detecting an accident to walking the customer through filing a claim, AVA FNOL helps facilitate every step of the process.
   2. AVA Intelligence: Aggregating all of the information surrounding a claim and applying sophisticated machine learning algorithms, AVA Intelligence automatically determines the consistency of a claim and categorizes the probability of fraud. Low risk claims are routed for processing through the Automation Suite, while the higher risk claims are sent to adjusters for investigation.
   3. AVA Virtual Witness: Using sensor data from multiple sources, AVA Virtual Witness is always there to give detailed and relevant information about the incident. AVA Virtual Witness is comprised of:
      1. Co-Pilot SDK (iOS and Android):A market ready mobile telematics SDK designed for quick and seamless implementation into an existing insurance company’s mobile application. Co-pilot provides the trip level data required to support AVA Virtual Witness.
      2. An online platform for claims adjusters to recreate the scene of an accident based on data collected by Co-Pilot or other available sensors.
   4. AVA Claims Automation Suite: For every task that doesn’t involve a human touch, AVA Automation makes the entire claims process frictionless for the consumer and the adjuster.

Metromile debuted its pay-per-mile product in 2012 and became a fully licensed insurance carrier in 2016. It currently offers auto insurance products in eight states: Ariz., Calif., Ill., N.J., Ore., Pa., Va., and Wash.

Q&A: Inside Metromile’s AVA Automated Claim Service with CEO Dan Preston