Insurance companies can reduce the stress of car accidents for their customers by using AI to streamline the claims process. Using AI, an insurance company can set up an automated claims processing workflow so customers can provide basic information to begin the claims process immediately after an accident. Customers can also use their smartphones to gather information about the other party, document damage to their vehicles, and select their preferred auto repair shop. Insurance companies can also arrange for a ride-sharing service to pick up the customer after the accident. All of these features, enabled by a hybrid cloud and AI platform, provide a more modern customer experience. The sources emphasize that countries may spend 2% to 8% of their GDP on the cost of car accidents, so streamlining the claims process could result in significant cost savings.
