Tractable, which offers an AI-powered tool to improve auto claims, has renewed its partnership with French car insurer Covéa to accelerate policyholder claims.
Tractable is an applied AI company that uses computer vision to assess homes and vehicles.
Tractable’s AI leverages deep learning for computer vision, as well as other machine learning techniques to make accurate decisions. The technology is also able to make recommended repair operations and guides the claims management process.
Covéa has positioned itself as a leading car insurer in France with 10.7 million vehicles insured by its French brands MAAF, MMA and GMF.
The insurer has been working with Tractable since 2016 to simplify claims management and has been using the Tractable Auto Reviewer solution since 2020. FinTech Global covered the partnership in 2021.
Through the renewal, Covéa intends to enable the use of Tractable’s technology throughout its repairer network comprising more than 2,000 approved repair shops.
Tractable Auto Reviewer automates the analysis of damage estimates and checks the accuracy of estimates using photos of the vehicle provided by the repairers. The technology flags any potential inconsistencies with the insurer’s quality standards and allows repairers to make the most appropriate decisions for necessary repairs.
By integrating this solution into its auto claims management, Covéa said it can quickly and accurately perform remote assessment of work estimates, reducing the risk of errors that can unnecessarily lengthen the claims process.
This also frees up resources, the company added, allowing experts to focus on the most complex tasks. With AI, the acceleration of the claims process allows ultimately allows policyholders to recover their vehicles much faster.
Romain Marcel, general manager EMEA at Tractable, said, “By renewing its partnership with Tractable, Covéa confirms the success of the collaboration that has united us for more than 7 years to accelerate the repair of vehicles in the French market.”
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