Artificial Intelligence Business Fintech InsurTech News

Tractable Announces Partnership With the Hartford to Accelerate Claims Processing With Artificial Intelligence

The Hartford, a leading US property and casualty insurer, is using an AI solution to analyze auto damage within its auto insurance claims operations in the US, accelerating how quickly claims can be processed for its customers.

Read More: Curioinvest Launches Capital Dex, the Decentralized Exchange Primarily For Security Tokens

The AI solution is created by technology company Tractable, whose mission is to accelerate accident and disaster recovery with artificial intelligence. Tractable uses computer vision to assess photos of car damage: the AI understands vehicle damage like an expert human appraiser and returns an appraisal as soon as the user submits photos. The technology opens the door to a simpler, quicker claim process.

Using AI in this way can increase the speed of processing claims from days to minutes, removing inefficiencies from the process, helping insurers and repairers agree on repairs faster, and accelerating accident recovery for drivers.

Read More: GlobalFintechSeries Interview with Joe Ehrhardt, CEO & Founder at Teslar Software

Alex Dalyac, co-founder and CEO, Tractable, said: “We are honored to announce this partnership. We see this as a testament to the quality of our technology, the maturity of our solution, and the trust in our people. Computer vision is accelerating accident recovery; the technology is here, it’s on the ground and it’s making a difference.”

Tractable was cofounded in 2015 and has since raised $55M in venture funding, processing over $1 billion in auto claims for the world’s top insurers, including Tokio Marine, the largest P&C insurer in Japan; Covea, the largest auto insurer in France; and Admiral, a leading insurer in Europe.

Read More:  Why Application-Layer Security Is The Future Of Fintech

Related posts

Wealth Management Team Led by Phil Scott Joins First Republic

FTS News Desk

BMO Appoints Sri Dronamraju as Chief Information Security Officer

FTS News Desk

Kroger Partners with Ria Money Transfer to Offer More Value and Choice When Sending Money Around the World

FTS News Desk