U.S. markets closed
  • S&P 500

    4,188.43
    -44.17 (-1.04%)
     
  • Dow 30

    34,742.82
    -34.94 (-0.10%)
     
  • Nasdaq

    13,401.86
    -350.38 (-2.55%)
     
  • Russell 2000

    2,212.70
    -58.93 (-2.59%)
     
  • Crude Oil

    64.87
    -0.05 (-0.08%)
     
  • Gold

    1,836.50
    -1.10 (-0.06%)
     
  • Silver

    27.41
    -0.09 (-0.32%)
     
  • EUR/USD

    1.2142
    +0.0007 (+0.06%)
     
  • 10-Yr Bond

    1.6020
    +0.0250 (+1.59%)
     
  • GBP/USD

    1.4127
    +0.0005 (+0.04%)
     
  • USD/JPY

    108.8180
    -0.0230 (-0.02%)
     
  • BTC-USD

    55,920.67
    -2,246.06 (-3.86%)
     
  • CMC Crypto 200

    1,484.90
    -76.40 (-4.89%)
     
  • FTSE 100

    7,123.68
    -6.03 (-0.08%)
     
  • Nikkei 225

    29,518.34
    +160.52 (+0.55%)
     

Tractable and Mitchell to offer combined solution for AI vehicle repair estimating

·2 min read

NEW YORK, Jan. 27, 2021 /PRNewswire/ -- Tractable, the artificial intelligence company for accident & disaster recovery, today announces a new partnership with Mitchell, a leading provider of technology, connectivity and information solutions to the Property & Casualty (P&C) claims and Collision Repair Industries. This allows North American automotive insurers to produce collision repair estimates automatically from photos.

(PRNewsfoto/Tractable)
(PRNewsfoto/Tractable)

Tractable's AI acts as a human appraiser, using proprietary computer vision to examine photos of vehicle damage and return a list of part-level repair operations seconds after photos are submitted. When combined with Mitchell's collision repair data, the result is a repair estimate – produced in seconds from anyone's smartphone – which a repairer can start to work from and upon which claims can be settled.

By employing this technology across the auto insurance claims journey – from understanding damage at first notice of loss (FNOL) to performing repairs – multiple days and manual touchpoints can be cut out from the accident recovery process. For the driver, the result is a simpler experience that instead of taking days or weeks can take minutes to complete on their phone.

"We're excited to combine our solutions to accelerate accident recovery," said Alex Dalyac, co-founder and CEO of Tractable. "Mitchell's collision repair data and industry expertise are known to be a reference in North America, as are their affiliate's GT Motive in Europe. Insurers now have access to a solution that is best of breed on both AI and repair estimatics. The Tractable-Mitchell band is here and ready to rock."

Olivier Baudoux, senior vice president of global product strategy and AI at Mitchell, said: "By collaborating with Tractable, bringing them into our Mitchell Intelligent Open Platform, and combining Tractable's AI engine with Mitchell Intelligent Estimating, customers can access an advanced, turnkey solution."

About Tractable:

Tractable develops artificial intelligence for accident and disaster recovery. Its AI solutions have been deployed to over 20 of the global top 100 auto insurers across Europe, Asia and North America to accelerate accident recovery for over a million households. Tractable is backed by $55M in venture capital and has offices in London, New York City and Tokyo.

About Mitchell International:

Headquartered in San Diego, Calif., Mitchell International Inc. delivers smart technology solutions and services to the auto insurance, collision repair, disability and workers' compensation markets. Each month, Mitchell processes tens of millions of transactions for more than 300 insurance providers, 30,000 collision repair facilities and 70,000 pharmacies. Its comprehensive solution and service portfolio empowers clients to restore lives after a challenging event.

Cision
Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/tractable-and-mitchell-to-offer-combined-solution-for-ai-vehicle-repair-estimating-301215868.html

SOURCE Tractable