Tractable’s AI solutions process over $2bn a year in vehicle repairs and purchases, and have been deployed by over 20 of the global top 100 insurers across Europe, North America and Asia, helping millions of households recover from accidents faster.
Mark LeMaster, Chief Claims and Customer Service Officer at Root, said: "Implementing AI effectively will set the next generation of insurers apart from incumbents by creating greater efficiencies and a frictionless experience for consumers. The industry-leading accuracy and breadth of Tractable's solutions made for a clear choice as our AI partner and serves us well in our mission to deliver world-class technology when it matters most for our customers."
Using AI to help accelerate damage claim processes
Root Insurance will use artificial intelligence (AI) to streamline and accelerate its claims operations using Tractable's suite of AI solutions. Root will launch the partnership with the AI Subro solution from Tractable to enable Root to assess and respond to subrogation demands more accurately and efficiently.
Alex Dalyac, Co-founder and CEO of Tractable, said: "It's been exciting to watch Root's rapid growth and to now partner together and help drive Root's frictionless customer experience forward. As the technology-first, customer-centric carrier, Root's adoption of solutions that get its drivers back on the road more quickly after accidents demonstrates to the industry that AI is the future."
By integrating Tractable's AI, Root will accelerate its end-to-end claims process, beginning with subrogation. The collaboration joins together two of the most innovative players in the insurance industry.
Subrogation is the process by which two insurance carriers align on the split of expenses when multiple parties are involved in a claim. Tractable's AI Subro solution reviews subrogation requests made by one insurance carrier to another and helps them to reach consensus more quickly and consistently.