MAPFRE and Tractable join forces in Brazil

MAPFRE, the largest Spanish multinational insurance group, and Tractable, experts in technological solutions based on Artificial Intelligence, have sealed a collaboration to help repair MAPFRE clients' cars more efficiently thanks to the help of AI. The first field of action will be Brazil.

Any accident involving a vehicle, no matter how minor, is a nuisance for all parties involved. The fact that the insurer offers a rapid response that reduces the time it takes to repair or compensate the vehicle can translate into a radical improvement in the overall customer experience.

MAPFRE will apply Tractable's AI to motor claims with the aim of helping its customers resolve any minor damage to their vehicle more quickly. The solution, which will first be applied to MAPFRE's operations in Brazil, will speed up the time it takes to return vehicles to customers after an accident by up to two weeks.

As part of this collaboration, MAPFRE and Tractable are implementing a unique AI model that uses photographs taken with the client's mobile phone to perform a comprehensive automated appraisal of minor car claims.

After automatically reviewing the images, the system identifies the damaged areas and the severity of the damage, and then determines the extent of repair required to the vehicle, which can range from touching up the paintwork to repairing or replacing certain parts. In addition, Tractable's technology offers real-time pricing of the appraisal, as well as the ability to forward orders directly to workshops.

The initiative will also facilitate improved operational efficiency by triggering parts requests to suppliers more quickly, thereby reducing overall claims processing times. The work of claims adjusters will also see improvements as they will have more time to focus their efforts and expertise on more complex cases, thereby increasing the value they bring to the customer.

For the development of this project, MAPFRE has collaborated with Tractable, a world leader in the application of AI in the financial services and insurance sectors. Specialists from both entities in advanced analytics, technology, operations and innovation are working side by side on this project, together with engineers from CESVIMAP (MAPFRE's R&D centre) and experts in appraisal.

"As part of MAPFRE's Open Innovation strategy, we have experimented with different AI solutions to significantly improve the customer experience and boost our operational efficiency. The Automobile business line is crucial to the Brazilian operation, so forging this pioneering partnership with Tractable is vital for us," says Roberto De Antoni, Chief Operating Officer of MAPFRE Brazil.

The project, which in the future could be scalable to other countries and processes, contributes to MAPFRE's goal of leading a transformation that involves improving the client experience in current services and products and developing new services and products that add value to the increasingly personalised requests of policyholders, with ever-improving quality and all aspects focused on a client relationship based on trust.

"MAPFRE is present all over the world and this innovative global collaboration will enable its clients to receive an even better experience thanks to our AI capabilities. Our partnership can be a game changer not only in the Brazilian market, but also elsewhere, with the application of AI in areas where it can make an immediate difference, such as speeding up the response right after an accident," says Ahmed Hameed, vice president of strategic accounts at Tractable.

Tractable's AI uses deep learning for computer vision, in addition to machine learning techniques. The AI is trained on millions of photographs of vehicle damage so that the algorithms learn from the experience by analysing a wide variety of different examples. Tractable's technology can be applied on a global scale to any vehicle.

AI enables insurers to assess car damage, share recommended repairs and guide the claims handling process to ensure that claims are processed and handled as quickly as possible.