Like all revolutionary technologies, AI brings huge power and also questions about how best and most responsibly that power should be applied. It doesn’t benefit our societies to replace whole skillsets or classes of people with computers, nor to allow intelligent code strategic decision-making over our essential assets.
However, there are applications right now which are perfect for the application of AI – and the automotive insurance and vehicle repair markets are two of them. Here’s why:
AI, like its forerunner the PC, is great at speeding up tasks which otherwise eat up the time of busy people. This is the case in claims handling, and the assessments and estimates which vehicle repairers generate for insurers in order to progress the customer’s journey.
Both claims assessors and vehicle repairers are shortage occupations – it is difficult for employers to recruit and retain skilled staff. Existing staff should be focused as far as possible on the high value work which requires their specific expertise.
Consider Qapter. Qapter is Audatex’s AI-enabled tool which can turn an hour-long conversation with an FNOL customer into a five-minute call.
It can facilitate guided image capture which then allows almost instant estimates of vehicle damage. Intelligent Triage enables time and money saving decisions, such as total loss or the provision of a courtesy vehicle if the claim vehicle is not safe to drive.
Qapter’s estimates are based on enormous datasets of historical vehicle claims, parts prices and cap hpi valuations, which are regularly updated.
Audatex Head of Account Management Tom Hart says: “Qapter represents a step-change in the damage appraisal process. This will enable our customers to better manage that tricky balance between resource and workload demand.”
A large part of sustainability is about eliminating waste. Wasted time is one factor. However, the wrong or delayed decisions lead to waste of other kinds. If a total loss vehicle isn’t identified until it is in the workshop, then the recovery and associated transport to salvage involve wasted resource and emissions.
Sustainability is also about maximising the use of assets already in existence. Speeding up the claims process, and the repair process, enables fleets and motoring customers to optimise the use of those vehicles rather than deal with extended or unnecessary downtime.
Vehicle repair and automotive insurance are both essential businesses, but which run on tight margins. These can easily become negative margins if processes are not managed efficiently.
“Qapter can be a great enabler: early identification of damaged parts can enable vehicle repairers to pre-order parts, or even receive approval for work before the vehicle is on site. This faster throughput and claims resolution should enable better profitability and customer outcomes – the perfect win-win,” says Tom.
Audatex provides the world’s leading insurance platform for claims handling meaning that repairers and insurers can exist in a shared space, with clearer and more transparent communications. AI takes this even further, making sure that both sectors can bring greater efficiency, sustainability and precision to what they do, and have more profitable and productive relationships with customers.
Sulabh Soral, Chief AI Officer at Deloitte Consulting, says: “AI can help business and help the public good when it’s laser focused on what customers need.” That’s exactly how we’ve envisaged Qapter.
AI does not need to replace people, their expertise or their creativity. Used properly, AI simply makes great companies better, and their people’s jobs more meaningful and enduring.
