Around 45 million vehicle insurance claims are made in
“It is a technology that we are constantly working on to improve, therefore we are offering it for free to insurance companies,” said Yin Ming, president of Ant Financial’s insurance unit. “We are opening up our AI capabilities to our partners, so that they can reduce cost and better serve small and micro-businesses.”
Immediately after an accident, motorists can simply take a photo of the damage and send it to the insurer, where the AI will assess the extent of the damage and estimate the cost of repair. It can even provide a list of nearby auto repair shops and their prices.
In a product demonstration held recently in
Initially, the tool is available only to insurance companies, but there are plans to offer it to car owners within a year from launch.