Artificial Intelligence Takes The Pain Out Of Car Insurance In India
In a country with more than 230 million vehicles and half a million auto accidents every year, scheduling damage inspections can keep cars and policyholders off the road for days or longer. A more convenient way was needed.
To ease the pain, ICICI Lombard partnered Microsoft to develop India’s first AI-enabled car inspection feature in its mobile app, “Insure.” Policyholders can simply take images of their vehicle and upload them to the app. AI analyses the images, identifies damages and provides an estimated repair cost.
The company aims to process over 80,000 simple claims every month with same-day turnaround when the module is launched towards the end of 2019.