Renew Your Car Insurance Policy Now With Artificial Intelligence (AI) Technology – Know How It Works

Renewing your car insurance is going to be much easier, simpler and less time consuming now. Kotak General Insurance today announced the automation of vehicle inspections for auto insurance renewals using artificial intelligence (AI) technology. Kotak General Insurance has partnered with Inspektlabs to automate the vehicle inspection process, using AI-powered technology. Thanks to artificial intelligence, automated vehicle inspections will take place at the time of insurance renewals.

As part of the AI-powered inspection process, during policy renewals, customers can capture photos or videos of their vehicle and upload them to the cloud-based app. An automated inspection report covering damage, if any, is generated within seconds of uploading photos/videos.

The automated process replaces humans in repetitive work at a very high level of precision, reducing costs and increasing customer satisfaction by reducing the time it takes to renew an auto insurance policy.

The technology also helps detect fraud based on uploaded photos and videos, making the subscription process easier. Suresh Sankaranarayanan, Chief Technology Officer, Kotak General Insurance Company Limited, says, “The DIY (DIY) process will help improve customer experience and reduce turnaround times and fraud. Over the past few years, artificial intelligence has become a mainstay for many of our businesses, and at Kotak General Insurance, we have also enhanced the technology to provide seamless solutions to our customers. We hope to serve our customers better with this new technological addition.

The AI-powered inspection processes will help in minutely capturing the extent of vehicle damage and also calculate the repair cost in record time. Renewals and the claims process have always remained a challenge for insurance companies. AI-based technology will provide much-needed support not only to businesses but also to policyholders by simplifying the renewal process.

Source link

Justin D. O'Neill