Swiss Re looks to transform motor claims process using AI
Reinsurer Swiss Re has partnered with insurtech Claim Genius to enable end-to-end automation for motor claims using computer vision and artificial intelligence (AI) technology.
Using real-time AI damage assessment and estimation platform, Swiss Re hopes to bring more efficiency to its motor claims process.
" Swiss Re Solutions aims to deliver world leading claims management capabilities to its Cedant clients helping them lower settlement time and costs, while making the post-accident process fast, fair and frictionless for consumers," said Pranav Pasricha, global P&C head of Swiss Re.
He added: "Our partnership with Claims Genius helps unlock our global data and tech assets to deliver world leading accuracy and speed in auto-claims damage assessments. Insurers will be able to use our 'Smart Claims' platform to transform their claims process into a 100 percent automated photo-based damage assessment, delivering reliable loss estimations in a matter of minutes with improved FNOL intake, triage, assessor productivity and settlement variability."
Raj Pofale, founder and chief executive officer of Claim Genius, stated: "By adopting Computer Vision & AI technology Insurance industry is seeing huge upside in efficiency & cost savings. At Claim Genius we are continually innovating our AI platform with image & Video base analysis enabling the end-to-end automation for the motor claims.
"Our vision is to make touchless claims a reality and our customers across the globe are very happy to see that our technology is enabling them for 100 percent digitization of their claims process. I am excited to see that Swiss Re believes in our technology and taking it to all their European customers."
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