Technology & Insurance Claims Processing Explored
Mitchell and Tractable announce AI-based estimation software which is the first claims automation solution that uses an open artificial intelligence software platform in automotive insurance.
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Mitchell, an Enlyte company, has demonstrated its end-to-end claims automation solution at Tractable’s Vision Summit. Mitchell is a technology and information provider for property and casualty insurance and the collision repair industry.
According to a press release, this newly announced automation solution gives carriers in North America the opportunity to use Mitchell Intelligent Estimating with Tractable Artificial Intelligence for automotive insurance claims that will help to expedite payments and provide a straight-through processing digital experience.
This announcement comes after Mitchell and Tractable renewed their collaborative partnership in January 2021. Their integrated solutions have been used in the United States and Canada by insurers.
“With our AI and Mitchell’s advanced technology and data, we can make straight-through processing a reality for U.S. and Canadian auto insurers,” said Alex Dalyac, co-founder and CEO of Tractable in the press release. “Our best-of breed solutions give carriers and consumers the opportunity to process claims quickly and efficiently.”
Mitchell Intelligent Estimating is the first claims automation solution that uses an open platform of AI computer vision providers in automotive insurance. Insurers have a choice of AI technology from industry leaders, and insurers can also leverage their own AI algorithms or opt for Mitchell’s Mitchell Intelligent Damage Analysis.
After vehicle photos are processed, Mitchell translates AI recommendations into actionable information and items based upon VIN numbers, pre-populating part and operation-specific estimate lines.
From there, an appraiser can review the estimate or utilize the straight-through processing to complete a claim without the need for human interaction.
Article Credit to Fenderbender.
What is your view of using artificial intelligence software for claims estimation? Do you think artificial intelligence software can accurately provide claims estimations? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.
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