UK auto insurer Ageas will begin using artificial intelligence (AI) to handle claims, a process that “represents a significant opportunity in the claims sector” to save time and cost, the insurer told Insurance Age magazine.
Ageas completed a successful pilot of the program last year, analyzing several thousand vehicle images involved in accidents, with Ageas’ engineers verifying the findings. Ageas is now putting the technology live to help its engineers verify the performance of its UK-wide repair networks in managing customers’ motor claims.
Alex Dalyac, co-founder and chief executive officer of Tractable, told Insurance Age: “Our AI understands imagery like experts do. It will impact any industry that relies on visual tasks.
“In automotive, where car driving is the visual task, AI and autonomous vehicles are transforming the industry. The same will happen in general insurance, where claim appraisal is the visual task.”
He continued: “AI will eventually enable claim settlement in minutes. Our success with Ageas is a thrilling first step. It’s a delight working with such a pioneering insurer.”