GEICO, Tractable join forces to accelerate accident recovery with AI
Category: #business  By Mateen Dalal  Date: 2021-05-28
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GEICO, Tractable join forces to accelerate accident recovery with AI

Government Employees Insurance Company (GEICO), one of the United States leading auto insurers, has announced establishing strategic partnership with Tractable, an AI company offering services to P&C insurers, manufacturers and others. The partnership is aimed at accelerating GEICO’s auto claim and repair process.

Apparently, Tractable’s AI detects vehicle damage in no time, helping customers get back on track faster by bolstering the claim processing. Meanwhile, through this alliance, GEICO will make use of Tractable’s AI to improve accuracy and speed of estimate review.

According to credible reports, after an accident, the process from filing an insurance claim to settlement can be cumbersome and time consuming. And in this case, Tractable considers that a key driver of the time it takes to repair automobile is the ability for the insurer and repairer to swiftly and accurately agree on the repair operations.

Evidently, Tractable is thus looking forward to shortening the time with use of AI. Reportedly, the company’s AI processes over USD 2 billion a year in vehicle purchases and repairs, while serving over 20 of the world’s top insurers including Mitsui Sumitomo and Tokio Marine, and others.

Commenting on the latest partnership, Todd Combs, GEICO’s CEO, cited that the company has been gaining much prominence amongst its clients for its speed of service and value. Meanwhile, addition of Tractable’s AI solution would undeniably help GEICO review its estimates more accurately and quickly.

On the other hand, Tractable Founder and CEO, Alex Dalyac mentioned that the firm is delighted to establish partnership with America’s largest insurers, GEICO.

Alex added that Tractable is committed to accelerating the process of accident recovery with AI. Besides, through this partnership, the organization is also seeking to make a positive impact to millions of lives, not only across America, but globally.

Source Credit: https://www.prnewswire.com/news-releases/geico-partners-with-tractable-to-accelerate-accident-recovery-with-ai-301299295.html

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About Author

Mateen Dalal    

Mateen Dalal

Mateen has completed his Bachelor’s degree in electronics and telecommunication engineering, post which he lent his proficiency to the industry, working as a quality and test engineer. Drawn intricately toward the field of content creation however, Mateen soon switc...

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