AXA UK, a division of the French insurance firm, has said that its claim handlers are currently piloting a machine-learning tool that will help make faster and more accurate decisions regarding motor claims.
Repair or Replace Intelligence (RoRI) captures data from phone conversations and uses machine-learning tools to assess the costs for fixing or writing off a car.
This compares to the previous approach, which took into account the age of the vehicle and the extent of the damage.
The old method only tended to identify half the total losses immediately, according to AXA, which resulted in delays for customers, as well as unnecessary storage and credit hire costs.
Using alternative information sources and predictive models, RoRI can instead compare the cost of repair with the cost of total loss.
The pilot starts on 10 February in the Ipswich office, with the plan being to integrate RoRI into the Guidewire software used by AXA Claims later this year.
“For a car owner, it can be frustrating to wait for your vehicle to be repaired only to find out later that it actually needs to be written off,” said Michael Calvert, Head of Claims Analytics.
“We want our customers to have a smooth claims journey,” he added. “The best way to do that is to innovate and to support our employees. By giving them this machine learning tool, we trust they’ll be able to reach the right decision more quickly.”
Waseem Malik, Executive Managing Director, Claims, also commented: “Claims analytics is at the centre of our business strategy, which relies on data-driven insights. Our ambition is to have seamless interactions with our customers. We believe that by empowering our people through technology, we will get closer to our customers.”
