Reliance General Insurance adds AI to speed-up claims

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Mumbai: Reliance General Insurance has made its vehicle claim process more faster and efficient using Microsoft Azure Cognitive Services and Azure Machine Learning capabilities.

Reliance General Insurance (RGI), a 100% subsidiary of Reliance Capital said that it has added speed and acceleration to its vehicle claim process by introducing AI backed RAPID solution. It works using image analytics and leverages Microsoft Azure Cognitive Services and Azure Machine Learning capabilities. 

This end-to-end solution has helped RGI provide a much faster and seamless customer experience while making vehicle claims. Reliance General Insurance has collaborated with Celebal Technologies – a Microsoft partner to create the new AI solution, which allows customers to buy or renew policies anytime, anywhere.

This has helped RGI to over come those traditional time-consuming physical processes and damage detection methods in insurance claims as well as buying or renewal of policies.  

AI helps to identify damage from the vehicle image feeds and procures the correct assessment instantly delivered to consumers. That’s how the solution uses AI and cognitive capabilities. 

In this process, right from the accident spot, the insured can access Reliance Selfi app to intimate the claim, upload the photos and documents to get the claim registered.

The AI tool starts processing and almost instantly generates a provisional repair work order for the customer once the claim is generated. It also gives an option to the customer to opt for on-the-spot settlement which can be credited in customers’ account immediately.
 
RAPID brings down the process of claims intimation to claims settlement period, to complete in less than an hour, from an otherwise time-consuming and hassled process that took an average period of 10 to 12 days. 

“Introducing this AI-based solution, makes the entire vehicle claims process completely superfast and hassle-free for our customers,” said Rakesh Jain, CEO, Reliance General Insurance Company Limited.

“This technology brings the much-needed acceleration to more than 60% of claims we receive for our passenger vehicles which have just peripheral damages,” informed Jain.

“With the use of RAPID, a significant decrease in the claim processing time is achieved, which will result in an enhanced customer service experience. This initiative connects well with our Brand Philosophy Tech + Heart, offering tech solutions with human touch,” added Jain. 

“We are pleased to collaborate with Reliance General Insurance to bring the power of AI and its transformative impact to reimagine the experience for their customers,” said Venkat Krishnan, ED – Commercial Partners, Microsoft India.

“We thank our partner Celebal Technologies for creating the solution, which makes the both the renewal and claims processes agile and more efficient, in a secure and scalable manner,” added Krishnan.  

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