New Rules for AI-Driven Auto Insurance May Open Floodgates

Artificial intelligence (AI) is defined to transform the vehicle insurance industry in India, with car sellers and insurers offering AI-powered solutions for policy renewals.

Ltd has begun utilizing an AI-based vehicle pre-assessment apparatus in an organization with Inspektlabs for policy renewals.

As part of the process, customers can capture images and videos of vehicles and upload them on a cloud-based app. The AI-fueled model creates a robotized review report on the degree of harm inside a couple of moments to decide whether the vehicle ought to be guaranteed.

The organization reported its arrangements fourteen days after the Insurance Regulatory and Development Authority of India (Irdai) permitted general insurance agencies to begin involving tech-empowered answers for their harm covers.

Source-

https://www.livemint.com/technology/tech-news/new-rules-may-open-floodgates-for-ai-driven-auto-insurance-11659001979194.html

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