The use of AI in insurance has proven to harbor some benefits for all parties involved. Tractable is a firm that employs artificial intelligence to expedite insurance claims and deep learning to prevent a problem before it occurs.
The company's services can easily be utilized in the universe of car insurance, giving peace of mind to the insured, while also delivering efficiency to the firm providing the coverage. Use of AI in insurance guarantees an auto repair estimates at-scale and in real-time. In fact, the algorithm can provide individuals with the potential cost for repair instantly based on photographs of the damage.
In addition, Tractable's platform is quite versatile as it can also "work with the repair ecosystems," including providing valuable estimates for repairers, appraisers, part and paint vendors, auto manufacturers, and more.