Car owners in China can now assess and report damaged caused to their vehicles more easily with a video-based AI app from Ant Financial.
The Alibaba affiliate last week launched version 2.0 of its Dingsunbao (Loss Assessment Master) app, giving drivers the same power in their hands to provide detailed car-damage information to insurers and claim vehicle insurance in real time as Ant Financial gave professional insurance adjusters just under a year ago.
The first version of Dingsunbao has already helped insurers, including China Taiping, China Continent Insurance, Sunshine Insurance Group and AXA Tianping process claims tens of millions of times at a rate of speed much faster than human adjusters alone could handle.
“Dingsunbao has already helped the insurance industry to save over RMB 1 billion (about US$16 billion) on claims handling while saving claims adjusters around 750,000 hours of effort,” said Yin Ming, president of Ant Financial’s Insurance Business Unit.
The AI also ensures a high degree of accuracy in damage assessment, Ant Financial said when it launched Dingsunbao last June. Dingsunbao was aimed at standardizing damage assessment and making it more objective, reducing the potential for human adjusters on the scene to be influenced by drivers involved in an accident.
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