Tokio Marine, the Tokyo-based property and casualty insurer, will use an artificial intelligence (AI) solution to process auto damage across its insurance operations in Japan, accelerating claims processing for policyholders.
The AI solution, created by technology company Tractable, uses computer vision to look at photos of car damage, making sense of it as a human would, in near-real time. Tokio Marine will use the AI to understand the full range of available repair decisions, including recommended repair, paint, and blend operations, as well as the labor hours required.
Using AI in this way can increase the speed of remotely reviewing claims from days to minutes, removing inefficiencies from the process, while helping insurers and repairers to agree on repairs more quickly, and getting customers back on the road faster, said Tokio Marine in a statement.
The insurer said this is the first time “a major Japanese insurer has deployed an AI auto damage assessment solution into the claims process.”
Tokio Marine has worked with Tractable since 2018, with the ambition of improving appraisal operations that require complex visual assessments with a solution based on computer vision. After successful trials of the AI, Tokio Marine has been using Tractable’s technology at one of its claim service centers since April 2020, with the potential to deploy it across the country.
“In Japan, after an accident it can take two to three weeks to determine the amount that should be paid,” said Tokio Marine Group Deputy General Manager Hidenori Kobayashi.
However, by using Tractable’s AI solution to assess car damage, Tokio Marine expects to shorten that time considerably, added Kobayashi.
In addition to Japan, Tokio Marine operates across Asia, the Americas and Europe.
“Computer vision is accelerating accident recovery; the technology is here, it’s on the ground and it’s making a difference,” said Alex Dalyac, co-founder and CEO, Tractable.
Tractable’s AI uses deep learning for computer vision, along with machine learning techniques. The AI is trained on many millions of photos of car damage as well as human appraiser decisions, and the algorithms learn from experience by analyzing a large variety of different examples. Tractable’s technology is globally applicable to any vehicle.
The AI allows insurers to evaluate the damage to a vehicle, based on photos provided by repairers, appraisers or policyholders. Via Tractable’s platform, the AI shares repair method recommendations and guides the claim process to ensure each claim is processed and settled as quickly as possible.
In Japan, Tokio Marine is using a new product developed by Tractable, called Loss Adjuster Application. In addition to facilitating repair decisions, Loss Adjuster enables the insurer to set its own checks for repairers, ensuring repairs are carried out to set standards – and enabling peace of mind for insurers, repairers and policyholders, said the insurer. It also speeds up the time it takes for the adjuster to agree with the bodyshop on work needed to repair the car and captures negotiation results.
Tractable’s AI has processed over $1 billion in auto claims for the world’s top insurers, including Ageas, one of the largest auto insurers in the UK; Covéa, the largest auto insurer in the French market; and Talanx-Warta, the second-largest auto insurer in Poland.
Source: Tokio Marine
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