Making AI-enabled straight-through claims processing available to North American Insurers.
Mitchell, an Enlyte company, demonstrated its end-to-end claims automation solution for attendees of Tractable’s Vision Summit. The solution allows North American carriers to use Mitchell Intelligent Estimating with Tractable artificial intelligence (AI) for straight-through processing in automotive insurance claims, helping to expedite payments and meet consumer expectations for a seamless, digitally driven experience.
Mitchell and Tractable recently announced their renewed collaboration. Since then, their integrated solutions have been selected by top US and Canadian insurers. Combining Mitchell’s cloud-based estimating system, open platform and comprehensive repair data with Tractable’s proprietary computer vision lets carriers produce a partial or complete estimate automatically from photos of the collision damage.
“With our AI and Mitchell’s advanced technology and data, we can make straight-through processing a reality for US and Canadian auto insurers,” said Alex Dalyac, co-founder and CEO of Tractable. “Our best-of-breed solutions give carriers and consumers the opportunity to process claims quickly and efficiently.”
Mitchell Intelligent Estimating is an auto insurance claims automation solution that relies on an open platform of AI computer vision providers. This gives insurers a choice of AI technology from industry leaders like Tractable, Claim Genius and Inspektlabs.
Insurers can also leverage their own AI algorithms or select Mitchell’s AI, known as Mitchell Intelligent Damage Analysis. Once photos of the vehicle are taken and processed, Mitchell translates the AI recommendations into actionable information that is based on the vehicle identification number (VIN), pre-populating part- and operation-specific estimate lines. An appraiser may then review and revise the estimate or use straight-through processing to complete the claim without human intervention, depending on the carrier’s business rules and severity of the damage.
This article courtesy of Russell Thrall III, publisher CollisionWeek. Check out the website at: www.collisionweek.com.