October 25, 2017

If you’re anything like Bankstone News, you probably can’t so much as look at a collision ecosystems without wanting to reinvent it.

Thought so! That means we’re both – for better or for worse – on exactly the same page as former AXA boss Andy Homer whose passion for collision ecosystem reinvention recently prompted him to invest in an exciting start up business called Tractable which offers insurers ‘touchless’ claims handling capabilities via AI-powered photo recognition.

The idea couldn’t be simpler. Users first need to have an accident. They can then clamber out of their damaged vehicle and snap off a couple of pics of their battered bangers, then simply upload these to Treatable’s Artificial Insemination powered system, which magically translates these blurry images into a comprehensive costed evaluation of the extent and nature of any damaged incurred.

Early adoptive insurer Agean is already using the first wave of Tractible’s ‘toothlesss’ claims handling system, but a second wave launched this week can now apparently ‘provide a full estimate repair cost using photos in minutes.’

Clearly this is very exciting. Although in fairness Bankstone News feels obliged to mention in parenthesis that Brighouse-based claims specialists Bankstone are already using their own bespoke PrangSnap system to do something rather similar.

Having said which, Traceable’s system has apparently now seen more than 300 million images of damage (equivalent to watching the climatic car-chase scenes of The Blues Brothers 25 times in a row), which the firm says (again not unlike the aforementioned cinematic experience) equates to “combining the experience of thousands of experts into one intelligence.”

All of which certainly sounds impressive.

Unless, of course, you’re one of the growing number of Brits who’ve had enough of experts.


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