Tractable, which offers an AI-powered tool to improve auto claims, has partnered with Covéa to help improve its claims handling.
Covéa, which is France largest insurance group, is implementing Tractable’s solution to accelerate the processing of policyholders’ claims across its brands – MAAF, MMA and GMF.
Tractable’s AI-powered tool leverages computer vison technology to understand photos of car damage taken by bodyshops in France, and assess them to the same level of a human.
By leveraging this technology, claims processes can go from taking days to complete to just a few minutes. Tractable claims it will also ensure bodyshops follow the most appropriate and safe repair methods and allow experts to focus on more complex tasks.
Covéa, which has worked with Tractable since 2016 to simplify claims management, has also teamed up with service platform Darva and bodyshop solutions providers.
Tractable co-founder and president Adrien Cohen said, “This collaboration means our technology will be making a positive, tangible difference to every part of the French auto repair sector.
“With our AI, a repairer won’t have to wait on approvals from an assessor in person, but can move a repair on immediately – giving them more autonomy, helping them to work on more vehicles, and ensuring expertise is directed to complex claims. The aim is to get the insured back on the road, as quickly as possible.”
The Tractable AI uses deep learning and machine learning techniques and its trained on many millions of photos of car damage. Its platform has processed more than $1bn in auto claims for 20 of the world’s top insurers.
Earlier in the year, Tractable teamed up with property and casualty insurer The Hartford. Through the deal, the insurer uses Tractable’s AI to improve and accelerate claims processes.
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