Mumbai:
HDFC ERGO General Insurance, the third-largest domestic non-life insurre company in the private sector, announced the launch of the AI tool IDEAS (Intelligent Damage detection Estimation and Assessment Solution) for motor claim settlements.The IDEAS module uses Neural Network image processing & Analytics, Machine Learning and Natural Language that supports instant damage detection as well as calculation of the claims estimate for the surveyors to help in motor claims settlement in real-time.
HDFC ERGO is moving towards planned and systematic implementation of various technologies to automate the complex process of motor claims. The IDEAS implementation will improve the surveyor’s efficiency and support the workshops for damage estimation as well and thereby speeding the claims processing for ultimate benefit of the end customers.
Commenting on the launch Parthanil Ghosh, president – Motor Business HDFC ERGO General Insurance said, " We have implemented the use of AI in one of the most complex process of claim settlement post exhaustive testing and by leveraging the best-in-class technology. At present almost 75% of our physical inspections are assisted through IDEAS tool and have already processed more than 20,000 motor claims with promising accuracy levels. We look to further revolutionize the way claims will be settled in the insurance sector and very soon move towards instant claim settlements for customers, turning their satisfaction into delight.”