Tractable


07.05.2020

3 min read

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Tokio Marine to use Tractable’s AI to analyse auto damage across Japan

  • It’s the first time that a major Japanese insurer has deployed an AI auto damage assessment solution into the claims process
  • Tractable’s AI understands and analyses every available repair decision, including recommended repair, paint, and blend operations, and labour hours
  • The deployment will result in faster, more accurate auto repairs, aided by AI

Tokio Marine, one of the world’s largest property and casualty insurers*, is to use an AI solution to process auto damage across its insurance operations in Japan, accelerating how quickly claims can be processed 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 repair decisions available to it, including recommended repair, paint, and blend operations, as well as the labour hours required.

Using AI in this way can increase the speed of remotely reviewing claims from days to minutes, removing inefficiencies from the process, helping insurers and repairers to agree on repairs more quickly, getting customers back on the road faster. It’s the first time that a major Japanese insurer has deployed an AI auto damage assessment solution into the claims process.

Tokio Marine, Japan’s largest insurer**, 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 will now use Tractable’s technology at one of its claim service centres from April 2020, with the potential to deploy it across the country.

Tokio Marine Group Deputy General Manager Hidenori Kobayashi said: “In Japan, after an accident it can take 2-3 weeks to determine the amount that should be paid. By using Tractable’s world-leading AI to assess car damage, we expect to shorten that time considerably, cementing our position as a company proud to pioneer new technology that transforms the claims journey for our customers.

As well as Japan, Tokio Marine operates across Asia, the Americas and Europe.

Alex Dalyac, co-founder and CEO, Tractable, said: “We are honoured to be selected as the AI partner by one of the world’s largest insurers. We see this as testament to the quality of our technology, the maturity of our solution and 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’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 analysing 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 a platform, Tractable’s 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 their own QA checks for repairers, ensuring repairs are carried out to set standards – and enabling peace of mind for the insurer, repairer and policyholder.  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: https://www.statista.com/statistics/185758/leading-global-property-and-casualty-insurance-companies-by-revenue/

**Insurance Post, Nov 2019: https://www.postonline.co.uk/commercial/4410496/top-30-asia-insurers-a-volatile-year