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IAG cuts motor claims processing time with AI tool

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IAG says using artificial intelligence has rapidly reduced the time it takes to process a claim for a total motor loss to just a few days from three weeks previously.

The introduction of the technology to assess if a vehicle is a total loss after an accident has eliminated the need for it to be towed to a repairer to do the job.

This has led to improved experience for the customers of its NRMA Insurance, SGIC and SGIO brands.

IAG Director of Analytics Hannah Sakai says the predictive total loss technology was developed internally and designed to help reduce the emotional impact of a car accident by providing customers with more clarity and certainty sooner in the claims experience.

“A car accident can be a traumatic and challenging time for our customers, so we turned to artificial intelligence to help improve this experience,” Ms Sakai said.

“Our predictive total loss solution leverages machine learning to detect a potential total loss with more than 90% accuracy, using information provided by the customer when they make a claim on the phone with a consultant or online.”