AXA launches ML tool for motor claims

AXA is to pilot a machine learning tool to support motor claims handling. Repair or Replace Intelligence captures the relevant data from the phone conversation and assesses the cost of repair and how much it would cost to write the car off.

This comparative approach differs from the previous one, which considered the age of the vehicle and the extent of the damage. Thus, only half of the total losses were identified immediately, at FNOL, while the other half were identified once the vehicle was already at a garage. This generated unnecessary storage and credit hire costs for the firm and led to delays for customers.

Head of claims analytics at AXA, Michael Calvert said: “For a car owner, it can be frustrating to wait for your vehicle to be repaired only to find out later that it actually needs to be written off.

“We want our customers to have a smooth claims journey,” he added. “The best way to do that is to innovate and to support our employees. By giving them this machine learning tool, we trust they’ll be able to reach the right decision more quickly.”

Executive managing director of claims at AXA, Waseem Malik said: “Claims analytics is at the centre of our business strategy, which relies on data-driven insights. Our ambition is to have seamless interactions with our customers.”

The pilot starts on 10th February.

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