The Hartford will use AI to appraise auto damage
The Hartford has entered into a partnership with technology company Tractable to analyze auto damage within its US auto insurance claims operations.
The Hartford is using an AI product created by Tractable that uses computer vision to assess photos of car damage. The AI understands vehicle damage like a human appraiser, and returns an appraisal as soon as the user submits photos.
The product can increase the speed of claims processing from days to minutes, according to Tractable.
Read more: The Hartford taps industry veteran for board of directors
“We are honored to announce this partnership,” said Alex Dalyac, co-founder and CEO of Tractable. “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 founded in 2015 and has since raised $55 million in venture funding. It has processed more than $1 billion in auto claims for insurers including Tokio Marine, Covéa, and Admiral.