HDFC ERGO Implements AI Enabled Solution To Automate Motor Claim Settlements

HDFC ERGO General Insurance, India’s third-largest non-life insurance company in the private sector, announced the launch of the AI tool IDEAS (Intelligent Damage detection Estimation and Assessment Solution) for motor claim settlements. The IDEAS module uses Neural Network image processing & Analytics, Machine Learning and Natural Language that supports instant damage detection as well as calculation of the claims estimate for the surveyors to help in motor claims settlement in real-time. This launch along with the digital inspection for the Company comes as an advantage for the surveyors, partner workshops as well as the customers amidst the ongoing pandemic.

e2e, HDFC ERGO’s Surveyor mobile application, was the first-of-its-kind mobile application launched for surveyors in 2017 which enabled surveyors to process entire motor own damage claims through mobile phones on a complete paperless basis. The IDEAS module, which is trained using more than 3,00,000  images over the last 2 years and is agnostic to vehicle makes and models has been  integrated in the surveyor mobile app. HDFC ERGO is moving towards planned and systematic implementation of various technologies to automate the complex process of motor claims. The IDEAS implementation will improve the surveyor’s efficiency and support the workshops for damage estimation as well and thereby speeding the claims processing for ultimate benefit of the end customers.

Commenting on the launch Mr. Parthanil Ghosh, President – Motor Business HDFC ERGO General Insurance said, Customer and Partners are our top most priority, and hence we channel our efforts towards finding new technologies and innovative ways in which we can simplify processes for faster & efficient claim settlements. We have implemented the use of AI in one of the most complex process of claim settlement post exhaustive testing and by leveraging the best-in-class technology. At present almost 75% of our physical inspections are assisted through IDEAS tool and have already processed more than 20,000 motor claims with promising accuracy levels. We look to further revolutionize the way  claims will be settled in the insurance sector and very soon move towards instant claim settlements for customers, turning their satisfaction into delight.”

IDEAS has been seamlessly integrated and implemented in the surveyor’s inspection workflow for them to receive auto estimation of the damage by clicking the vehicle photos. The IDEAS module does the rest wherein the entire process is done under 3 main functions which will Read (vehicle number, make and model), Detect (all vehicle parts, damaged parts, severity of damaged parts) and Auto Assess/Estimate the claim amount, based on the damage & severity detection using the AI assisted intelligent rate masters. IDEAS module also minimizes the risk of fraudulent claims.

Investing in new and innovative solutions and services are key for process efficiency and customer satisfaction, which makes claims settlement convenient & easy. HDFC ERGO is constantly evaluating new and innovative solutions & services for their partners and customers to further deepen the penetration of insurance in India by encouraging customers to take up motor insurance. HDFC Ergo continues to make huge strides in the multiple dimensions of AI including ML, NLP, Text AI, Voice AI and Image AI along with RPAs across the life cycle of customers.