free insurance claim estimating software

PwC’s AI and Analytics team realized that improving the efficiency, quality, accuracy and consistency of the estimation process would have a major positive impact on their insurance company clients and policyholders through a decrease in claim resolution time.

The client is laser-focused on enhancing customer experience. But then quickly found that building trust in the AI-assisted system, both for their estimators and customers, was key to making this approach successful.Īnalyze the estimation process, leverage insertion points for PwC’s Analytics and AI solutions and focus on building trust with the estimators through “explainable AI” The process They built a data science team as a start. It could address their scaling challenge and help them continue to improve customer experience. Our client knew that using artificial intelligence (“AI”) and image recognition technology was a possible solution. Their challenge was that there are only so many experienced estimators and auto body experts available for hire, and at the rate the company was growing, they knew their growth would soon be constrained by limited resources. They now service over 70 insurance companies and are a significant player in the insurtech space. Our client was filling a void in the industry, and their business exploded. They hired a team of experienced estimators and auto body experts and started to evaluate photos of auto damage for carriers as a service.ĭrawing on their collective experience, the team would look at the photos and provide insurance companies with a preliminary assessment of the damage to the vehicle. Where others saw chaos, our client saw an opportunity. As widespread smartphone adoption made it easier for consumers to submit images of collisions in support of auto insurance claims, insurance carriers were deluged, further bogging down an already frustrating and time consuming process. The insurance industry has experienced its share of technological disruption over the past ten years. Can the insurance claims estimate generation process be optimized and scaled to support exponential growth?

Free insurance claim estimating software