Admiral subsidiary using Tractable’s AI solution

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The insurer will use the insurtech’s AI solution to pay claims quickly

Admiral Seguros – the Spanish subsidiary of Admiral is using insurtech Tractable’s artificial intelligence (AI) solution.

The insurer is applying this solution in the Spanish insurance sector to assess auto damage and create immediate payment offers to policyholders.

Adrien Cohen, co-founder and president at Tractable, said: “By using our AI to offer immediate payments, Admiral Seguros will resolve many claims almost instantly, to the delight of its customers. This is central to our mission of using Artificial Intelligence to accelerate recovery, converting the process from weeks to minutes.”

Digitalisation

To do this, photos can be sent via Tractable’s web application, the AI technology then evaluates the images for vehicle damage. The insurtech’s app completes manual tasks that an advisor would normally pick up, it then produces a damage assessment and shares recommended repair operations.

This means that claims are paid quickly. Admiral Seguros will use these damage assessments to make immediate payment offers to policyholders where appropriate.

Admiral Seguros believes that this technology in insurance will be a great step in digitisation as well as improving the customer experience of the insurer’s brands in Spain – Qualitas Auto and Balumba.

José María Pérez de Vargas, head of customer management at Admiral Seguros, added: “Admiral Seguros continues to advance in digitalisation as a means to provide a better service to our policyholders, providing them with an easy, secure and transparent means of evaluating damages without the need for travel, achieving compensation in a few hours. It’s a simple, innovative and efficient claims management process that our clients will surely appreciate.”