MS&AD to deploy Tractable AI
MS&AD, a Japanese insurer that's the parent of Aloi Nissay Dowa Insurance and Mitsui Sumitomo Insurance, is going to use Tractable AI in the auto claims process for those insurers.
The insurtech Tractable provides computer-vision enabled AI that can appraise damage based on images of claims. Its other clients include Ageas and Covea in the UK and France, respectively. The MS&AD units operate in 40 countries, not just Japan.
“By applying Tractable’s market-leading AI, we will be able to solve long-standing challenges to the claims cycle, such as how to accelerate supervisor approval of work carried out by our appraisers," says Keiji Goto, GM for Technical Support, Claims Division at MSI. "We’re excited by the standard of the AI and its capacity to help us make better, faster decisions for our customers.”