AI-based image recognition automobile damage assessment Qorus Innovation in Insurance Awards 2021

When a client purchases a pre-owned vehicle, the first thing they need to do is take out insurance, and they want to select the coverage they need in the simplest, most convenient manner possible. To do this, an assessment of the condition of the vehicle is required. Up to a few years ago, people brought the recently purchased car to an expert center to assess the damage to their vehicle before taking out the insurance policy. More recently, this process has been done remotely, with the insured sending photos of the vehicle via email of a mobile phone app, but the review stage of the assessment of the condition of the vehicle was still manual, thereby causing delays in response times. Premise: Why not give the client the ability to vehicle damage at any time, within a matter of minutes and without the need for human intervention? This is exactly what is offered by the AI-based image recognition automobile damage assessment initiative, a solution that facilitates the verification of the state of your vehicle, featuring real-time damage detection using photos taken by the owner on their mobile phone, thereby giving them the flexibility to activate their auto insurance policy with the desired coverage level instantly. And all done without the need for human intervention and accuracy levels of 95%. The tool combines the use of deep neural networks with the image recognition and processing. The benefits include the following: • Aligning the insurance world to a new digital context that requires immediacy in transactions. • Creating new digital methods of offering services to our clients, ensuring the transparency of the process at all times and reinforcing people’s confidence in MAPFRE throughout in the entire user experience. • Radically transforming the customer experience, making life easier for users by offering a personalized and immediate response, which the customer controls, seamlessly and immediately. • Creation of new tools that bring precision and speed to the underwriting process, automating the damage assessment process, resulting in an enhanced user experience and greater efficiency in the use of company resources.