AI Use cases for the Insurance Industry

  • Vehicle damage assessment
  • Fraud Detection
  • Claims management to ease the process

Vehicle damage assessment

  • Severity of damage
  • Which parts are damaged
  • Does it require repair or replacement
  • Estimating the cost of repair or replacement

Using AI for claim management AI in various steps of the process

Leasons learnt while Building a Damage assessment system

  • Finding a proper data set
  • Privacy concerns
  • Optimizing performance and cost
  • If possible building 3D models and using them to train classifiers to achieve higher precision

Altoros Blog post

Process

Damage assessment using Object Detection Severity Classification Object detection and classification

Challenges in applying AI for Cost estimation

Wired article

Reference

Just Analytics Flowmagic

Code Implementation

Github Repo