PZU, the largest financial institution in Central and Eastern Europe, is using artificial intelligence (AI) to enhance how it reviews its car insurance claims across Poland. PZU handles nearly 500,000 motor damage claims per year. Before implementing AI, Poland’s largest insurer was performing a detailed review of around 20% of its motor claims that are […]
MS&AD Chooses Tractable’s AI for Auto Claims in Japan
MS&AD, the fifth largest property and casualty insurer globally, will use artificial intelligence (AI) technology from Tractable to analyze photos of vehicle damage on auto insurance claims in Japan, speeding up recovery for its policyholders. MS&AD will deploy the AI across both of its subsidiaries, Mitsui Sumitomo Insurance (MSI) and Aioi Nissay Dowa Insurance (ADI), […]
Admiral Seguros To Use Tractable Artificial Intelligence To Assess Vehicle Damage in Spain
For the first time, an insurer in Spain, Admiral Seguros, the Spanish subsidiary of global insurer Admiral, is using artificial intelligence (AI) to create damage valuations and to generate an offer of immediate payment on damaged vehicles. To do this, Admiral Seguros is using an AI solution, developed by the technology company Tractable, which evaluates […]
Tokio Marine to Use Tractable AI for Auto Insurance Claims in Japan
Tokio Marine will use Tractable’s artificial intelligence (AI) solution that employs computer vision to look at photos of vehicle damage to process auto damage claims across its insurance operations in Japan. According to the announcement, Tokio Marine will use the AI to understand the full range of repair decisions available to it, including recommended repair, […]
Tractable Donates $25,000 to CIF COVID-19 Fund
Over the past month, over 500 requests have been submitted by collision repair professionals asking CIF for financial assistance through the CIF COVID-19 fund that was established in late March. The initial fund, including early contributions by half a dozen generous donors, had been nearly expired in mid-April when CIF sent out a request for […]
Ageas UK Using Tractable AI on Auto Claims
For the first time, one of the UK’s insurers is employing artificial intelligence (AI) to create end-to-end assessments and estimates of vehicle damage. Ageas is using an AI solution developed by Tractable to support some of the complex tasks that a human assessor would normally carry out when evaluating vehicle damage. For example, the AI […]
Jimmy Spears Named Head of Automotive at Tractable North America
Tractable is delighted to announce that Jimmy Spears will join its North America organization as Head of Automotive. Spears joins Tractable after 30+ years working in the insurance and automotive industry, where he led USAA’s Auto Claims Experience and Global Auto Physical Damage operations and strategy, and the Strategic Initiatives team at Farmers Insurance. At […]
Tractable Raises $25M in Series C Investment Round
Tractable, the technology company developing artificial intelligence (AI) for accident and disaster recovery, announced a $25 million Series C investment, led by Georgian Partners with participation from existing investors, including Insight Partners and Ignition Partners. The round nearly doubles the total raised by Tractable, to $55 million. The investment will be used to accelerate Tractable’s […]
Tractable Announces AI Photo Appraisal Partnerships
Tractable announced a series of industry partnerships to bring artificial intelligence (AI) photo appraisal to the North America auto collision repair and claim ecosystem, following requests from North American insurers. Key partners include Thatcham Research, LKQ Corporation, and the Automotive Body Parts Association, among others. The new collaborations combine Tractable’s AI algorithms with industry data […]
CIECA August 8 Webinar to Examine Artificial Intelligence Black Box Impact on Claims
The Collision Industry Electronic Commerce Association (CIECA) announced its next CIECAst webinar, Inside the AI Black Box: Understanding How Algorithms Appraise Auto Damage in Seconds, will be held on August 8 at 11 a.m. EDT and feature Julie Kheyfets, Tractable’s head of North America, and Marcel Horstmann, Tractable’s estimating research lead. Registration for the event […]