NCR Geice

US insurer to use artificial intelligence to assess claims

GEICO, the second-largest auto insurer in the US, is partnering with Tractable to accelerate its auto claim and repair process. Tractable’s proprietary computer vision technology, trained on millions of historical claims, assesses vehicle damage like a human appraiser.

Inserting artificial intelligence (AI) into the process, GEICO will be able to accurately review estimates within seconds while also reducing administrative overheads.

Todd Combs, CEO at GEICO, said: “GEICO customers know us for our speed of service and our value. Tractable’s artificial intelligence solution delivers both, helping us review estimates more quickly and accurately, getting our customers back on the road faster.”

Alex Dalyac, Founder and CEO of Tractable, added: “We are honoured to be chosen by GEICO, one of America’s largest insurers, and we are committed to accelerating accident recovery with AI. Through this partnership, our AI will make a positive difference to millions of lives.”

Tractable’s AI processes over $2 billion per annum in vehicle repairs and purchases, serving over 20 of the world’s top insurers, such as Tokio Marine and Mitsui Sumitomo, the largest auto insurers in Japan; Covéa, the largest auto insurer in France; and Admiral Seguros, the Spanish entity of Admiral Group.

This article courtesy of John Huetter of Repairer Driven Education (RDE). Check out their website at; http://www.repairerdrivennews.com/ for this and many other informative and educational articles on the collision repair industry.

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