What:
Verisk is expanding its claims ecosystem by teaming up with Tractable.
Why:
By integrating with Tractable, which uses computer vision technology to visually assess damage to homes, Verisk will be able to accelerate insurance claims processing and home repairs.
How:
- Tractable’s AI property solution allows policyholders to take and submit photos of damage through a mobile-friendly, web-based app.
- The AI, trained on a large database of claims and damaged property, then quickly identifies, classifies, and measures the property damage, enabling automated estimates to be generated on Verisk’s Xactimate® platform.
- With Tractable’s AI, insurers that use Xactimate can access reliable property estimates and help cut the time to settle a property claim from months to one day.