Car Insurance Renewal: Renewing car insurance is now very easy, with this special technology, work will be done in a few seconds

Car Insurance Renewal: Renewing car insurance is now very easy, with this special technology, work will be done in a few seconds
Renewing car insurance is now very easy, with this special technology, work will be done in a few seconds 

News Brief: Kotak General Insurance has partnered with Inspectlabs to automate the vehicle inspection process through Artificial Intelligence based technology.

Car Insurance Renewal with Artificial Intelligence: Renewing car insurance is going to be very easy and now this work will also take very less time.  Actually, Kotak General Insurance has introduced a new facility to simplify vehicle insurance renewal.  Under this, vehicle inspections have been automated through Artificial Intelligence (AI) based technology.  Kotak General Insurance has partnered with Inspectlabs to automate the vehicle inspection process through AI based technology.  Under this, automatic vehicle inspection will be done through artificial intelligence at the time of insurance renewal.

How does this technology work in Car Insurance Renewal

Under the AI-based inspection process, customers can capture photos or videos of their vehicle during policy renewal and upload them to the cloud-based app.  Within seconds of uploading the photo/video, an automatic inspection report is generated covering the damage, if any.

Advantages of this technology for Car Insurance Renewal

The advantage of the automatic process is that it not only saves the time of the customers but also reduces the scope of error in the process of inspection and also reduces the cost.  Under this process, the customers get complete satisfaction.  This technology also helps in detecting fraud on the basis of uploaded photos and videos.  AI-based inspection procedures will help in capturing the extent of damage to the vehicle more closely and also calculate the repair cost in less time.  The renewal and claim settlement process has always been a challenge for insurance companies.  The advantage of AI based technology will be not only for the companies but also the policyholders along with easing the renewal process.

Company Statement about Technology and Car Insurance Renewal

Suresh Sankaranarayanan, Chief Technology Officer, Kotak General Insurance Company Limited says, “The Do It Yourself (DIY) process will help enhance the customer experience and reduce turnaround time and frauds.  Artificial Intelligence has become a mainstay for many of our businesses over the years, and we at Kotak General Insurance have also evolved technology for the convenience of our customers.  We look forward to serving our customers better with this new technology.”

Courtesy: Kunal Thakur, Direct News 99 

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