Tractable is a London-based startup that develops proprietary AI algorithms that can learn and perform expert visual tasks, which can be deployed as claims auditing solutions. Specifically, Tractable assesses damage extent by analyzing images submitted with claims. This is used to provide an estimate for vehicle repair as well as detect any suspicious claims. Tractable deep learning tools for visual inspection perform faster, cheaper and more accurately than humans. Tractable algorithms can label as much data in one hour as the baseline method can in a hundred.  Their technology automates an expert’s task at near zero marginal cost.

Tractable started in car insurance, where their AI algorithms now surpass human performance and generate millions in value throughout Europe and the US. They have taken hundreds of millions of photos paired with estimates and used them to create an artificial intelligence which can identify any external part of any vehicle, score its condition, and determine whether it ought to be repaired, replaced or left alone. The company estimates its system would be appropriate for up to 70 percent of claims — 50 percent involving external, nonstructural damage and another 20 percent classified as total losses.

Some of America’s Top 6 insurers are testing Tractable’s artificial intelligence photo estimating system. Tractable’s photo-estimating computer purely on images and estimates alone would be problematic. But Tractable doesn’t stop there. It has measures in place to ensure the computer picks the safest and most efficient repair method. They use both one-and-done estimates and supplemented ones to ensure accuracy and create trust on both the insurer and repairer sides. Beyond that, Tractable does a lot of supervision and training the AI on the information, rather than just feeding it into the machine and letting the machine be led astray by “noise” in the data.

The company also cleans the data “so it doesn’t learn the wrong things.  “That’s what they specialize in. The company isn’t just “blindly pushing historical data.  Tractable also has a full-time body shop engineer on its staff. 

Scale. Speed. Accurary.
Motor claims work better with AI. Their first product in market enables insurers to check bodyshop repair estimates at zero cycle time cost. Their AI is able to flag inaccurate repair operations in the repair estimate real time, in order to contain collision repair costs and ensure safe and objective repair standards every time.

How it works

1. The collision repairer uploads an estimate and pictures to the claims management system
2. AI Review compares the pictures and the estimate and accurately judges the cost of repair
3. The insurer gets an assessment. Flagging any potential leakage.

The company recently announced their second product in the US which is a web app that the driver uses to settle the claim right after an accident. They take a few photos of the damaged vehicle via a web app, send them to Tractable’s AI, and if anti fraud checks pass, the claim can be settled cash in minutes.

Why we selected Tractable for DIA Munchen
Tractable’s technology is very likely going to be the future of photo estimating and radically changing how collision repairers interact with insurers and customers in the next few years. Tractable’s AI has seen millions of claims, including instances where something looking minor concealed hidden damage. 

Reducing the cycle time from days and weeks to minutes, results in more consistency, and no longer requires an expensive human claims handler to be involved in the process. The system sorts through the photos, runs antifraud checks, and pays out immediately. It is possible to settle the claim in minutes. It can completely change the claim experience and streamline the all the processes.

Who is Tractable?
Founded in 2012 by Alexandre Dalyac, Razvan Ranca and Adrien Cohen. The London based startup has taken in $9.9 million in funding so far.

They came from leading organizations (Cambridge, Oxford, Harvard, Apple, Uber, Goldman Sachs) and are backed by $10M of venture capital from Silicon Valley (Ignition, Zetta). They have offices in London, San Francisco and Austin

Adrien Cohen, co-founder Tractable

Website: www.tractable.ai

Presenter 1: Adrien Cohen
Presenter 2: Jan Moehlmann

Contact info: Laura Johnston
Email: [email protected]
Telephone: +07377 354458