Kotak Mahindra General Insurance has announced its partnership with Inspektlabs to launch an AI-based automating vehicle inspection service for its customers.
Under the AI-based inspection process, during policy renewals, customers can capture photos or videos of their vehicle and upload them on the cloud-based App. An automated inspection report covering damages, if any, gets generated within a few seconds of uploading the photos/videos.
The automated process replaces humans in repetitive work at a very high accuracy level that saves cost and increases customer satisfaction by reducing the time required to renew a car insurance policy. The technology also helps to detect fraud based on the pictures and videos uploaded, thereby aiding the underwriting process.
Speaking on the launch, Suresh Sankaranarayanan, Chief Technology Officer, Kotak General Insurance has said, “The do-it-yourself (DIY) process will help enhance customer experience and reduce turnaround time and frauds. Over the past few years, artificial intelligence has become a mainstay for several of our businesses.”
“We at Kotak General Insurance have also spruced up technology to provide seamless solutions to our customers. We hope to serve our customers better with this new technology addition,” Sankaranarayanan further added.