Car accidents in China get ‘smarter’ with AI-driven app

16/05/2018

Car accidents in China have just gotten a lot “smarter.”

 

Drivers in China can now use a video-based, artificial-intelligence app to assess damage done to their car.

Ant Financial last week launched the 2.0 version of its Dingsunbao app, giving drivers the power to provide detailed car-damage information to insurers and claim vehicle insurance in real time.

The Alibaba affiliate rolled out the first generation of the app for professional insurance adjusters a little less than a year ago.

Translating to “Loss Assessment Master,” Dingsunbao remotely collects photos of external vehicle damage and analyzes them using AI-driven, deep-learning image recognition technology, according to BCG.

 

 

The goal is to standardize damage assessment and make it more objective, reducing the potential for human adjusters on the scene to be influenced by drivers involved in an accident, Ant Financial said.

 

 

The tool can dissect and assess the damage, reconstruct the scene of the accident, and remove glare.

The technology learns autonomously through iterative comparisons on the cloud platform, giving an accurate assessment within a few seconds.

The original app is already used by several major insurers, including China Taiping, China Continent Insurance, Sunshine Insurance Group and AXA Tianping.

The goal is to standardize damage assessment and make it more objective, reducing the potential for human adjusters on the scene to be influenced by drivers involved in an accident, Ant Financial said.

This is not the only digital tool Ant Financial has developed for insurers.

The fintech company also helmed Car Insurance Score, which uses big data and AI technology to assess driver risk on the basis of the vehicle owner’s profession, credit history, spending habits, driving habits, and other data.

Other Chinese companies have been responsible for innovation in the car insrance space. Tencent, the owner of WeChat, launched an online insurance business in October 2017.

According to BCG, the business is serving as a pilot, testing the effectiveness of promoting tailored insurance offerings to selected customers on the basis of their individual needs.

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