Ping An Property and Casualty Insurance Co. of China has launched a credit-based smart auto claim solution in China, to make it easier for car owners to make claims and encourage good driving habits.
The credit-based system will go online across the country, having completed testing in December in Guangdong Province, said Ping An P&C in a statement.
Drivers can make claims through their mobile phone and receive compensation deducted from a dynamic credit quota, which is related to their driving behavior and history – including traffic violations and credit records, said the company.
All drivers need to do is to report the case to the insurer, upload relevant photos for an artificial intelligence-assisted assessment and confirm the compensation online, Ping An P&C continued.
Car owners can check their credit quota via a mobile application developed by Ping An, which is based on big data like the user’s driving habits. Good drivers with safe driving habits will earn larger credit quotas while those who commit transgressions such as fraud will see their credit quota canceled, explained the company.
The smart claim system aims to encourage safer driving habits and improve public transportation safety, said Zhu Yougang, deputy managing director of Ping An P&C.
The traditional claims settlement process includes a number of complicated stages such as initial reporting, loss assessment, compensation assessment, handling documents and compensation, requiring 5.18 manual workflows in a single case on average, the company said.
The new system is based on the AI smart claims credit model built with technologies such as image damage assessment, OCR (optical character recognition) bills identification, and biometrics, which help simplify claims procedures, Ping An said.
At present, AI technology is applied to the whole process of car insurance claims settlement, including initial reporting, submitting digital pictures, loss assessment and document handling. The technology enables timely surveying within 5-10 minutes for 95.5 percent of car accident cases that occur during the daytime, while compensation can be received within seconds through face recognition.
Source: Ping An Property and Casualty Insurance Co. of China
Topics Auto Claims New Markets China Property Casualty
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