About
The Credit-Based Smart Auto Claim Solution, the first of its kind in the industry, uses artificial intelligence to collect and analyze driving behavior and history data to reward good driving habits with credit quotas, from which claim settlements can be deducted quickly and efficiently.
Innovation presentation
Credit-Based Smart Auto Claim Solution system is the first of its kind in the industry.
Drivers can make claims through their mobile phone and receive compensation deducted from a dynamic credit quota, which is related to their driving behavior and history - including traffic violations and credit records. All they need to do is to report the case to the insurer, upload relevant photos for an AI-assisted assessment and confirm the compensation online. Car owners can check their credit quota via a mobile application developed by Ping An, and the quota will change dynamically based on big data like the user's driving habits. Good drivers with safe driving habits will earn larger quotas while those who commit transgressions such as fraud will see their credit quota cancelled.
Traditional claim settlements include a series of complicated stages such as initial reporting, loss assessment, compensation assessment, handling documents and compensating, requiring an average of 5.18 manual workflows in a single case. The new system uses an artificial intelligence (AI) smart claims credit model built with technologies such as image damage assessment, optical character recognition (OCR) bills identification, and biometrics. It minimizes the complicated procedures by automating processes and reducing manual form-filling to the greatest extent.
Departments involved: Ping An Property and Casualty Insurance (Ping An P&C) Claim Settlement Expert Team, and Ping An P&C Systems Expert Team .
Uniqueness of the project
1. Intelligent Granting of Quota Based on Driving Records
Intelligent profiling of customers based on big data, such as the customers' driving habits, traffic violations, vehicle maintenance records and consumer credit, with “one quota per person per auto”. Similar to a credit card, safe driving behavior can help customers earn credits, and their credits will increase monthly if there is no claim. Drivers who are not Ping An Insurance policy holders can also accumulate a certain amount of credits, which can be used after they become Ping An insurance policy holder.
2. Independent Claim Settlement by Customers
For cases within the credit quota, customers can enter the amount of the claim and upload photos from their mobile phone to achieve zero-contact and one-stop quick settlement after submission.
3. Safe Driving Increases Quota
A credit quota can be increased by sharing and spreading the concept of safe driving, and donating for public welfare, etc. At the same time, our company has introduced the "Four Service Promises" on auto insurance claims for customers who need to make a claim: timely arrival of claim adjusters, a full warranty auto repair, timely claim payment, and exclusive support throughout the claim process to provide better service experience for customers.
4. Innovative Service Model
Through profiling by AI + big data, we provide differentiated services to the low-risk and risk-free auto owners to create a brand-new claim settlement experience.
I)The traditional claim settlement model is based on risk reviews, including initial reporting, loss assessment, compensation assessment, handling documents and compensating – all of which requires an average of 5.18 manual workflows in a single case and communication with customers about eight times. The Credit Based Smart Auto Claim Solution is based on the data of 43 million auto owners of Ping An P&C. The AI smart claim credit model is built with technologies such as image damage assessment, OCR bills identification and biometrics. The claim credit quota is configured for each customer, and the claims within the limit are autonomously paid to the customers. There is no need for manual reviews of claim settlements, creating a hassle-free experience for customers. A traditional claim settlement for a single-party case without injuries would take 10.59 days, compared to an average 188 seconds with the Credit Based Smart Auto Claim Solution. It effectively solved the long-standing problem in the industry of lengthy case settlement periods for auto insurance. It reduced the general 13-day settlement period in the industry to 30 minutes, speeding up the process 600-times, creating a one-stop settlement service that exceeds customer expectations. This is a revolution in the whole auto insurance industry.
2) After an accident, an auto owner can process a claim quickly through the "Ping An Auto Owner" app within the credit quota granted by Ping An, and the whole claim settlement can be handled autonomously, in line with the development of Ping An’s online services. The whole claim settlement process is simplified for the customer, from six steps to two steps: inputting information and receiving compensation. Secondly, the whole process can be handled autonomously online.
