NEW DELHI: Kotak Basic Insurance coverage on Monday mentioned it was automating car inspections for its motor insurance coverage coverage renewals with Synthetic Intelligence (AI)-based expertise. The insurance coverage firm has partnered Inspektlabs to implement this for its insurance policies.
By means of this characteristic, policyholders can take pictures or movies of their car and add them on the cloud-based software for coverage renewal. The inspection report, together with particulars of damages, if any, shall be mechanically generated inside a couple of seconds after the shopper uploads inspection pictures or movies.
“The automated course of replaces people in repetitive work at a really excessive accuracy stage that saves price and will increase buyer satisfaction by lowering the time required to resume a automobile insurance coverage coverage,” Kotak Basic Insurance coverage mentioned in its assertion.
The expertise will even assist detect fraud primarily based on photos and movies uploaded, and therefore support the underwriting course of, the corporate added.
“The do-it-yourself (DIY) course of will assist improve buyer expertise and cut back turnaround time and frauds. Over the previous few years synthetic intelligence has develop into a mainstay for a number of of our companies, and we at Kotak Basic Insurance coverage have additionally spruced up expertise to offer seamless options to our prospects. We hope to serve our prospects higher with this new expertise addition,” mentioned Suresh Sankaranarayanan, Chief Know-how Officer, Kotak Basic Insurance coverage Firm Restricted.
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