Home / Companies / News /  Kotak General Insurance automates vehicle inspection on its app through AI

NEW DELHI: Kotak General Insurance on Monday said it was automating vehicle inspections for its motor insurance policy renewals with Artificial Intelligence (AI)-based technology. The insurance company has partnered Inspektlabs to implement this for its policies.

Through this feature, policyholders can take photos or videos of their vehicle and upload them on the cloud-based application for policy renewal. The inspection report, including details of damages, if any, will be automatically generated within a few seconds after the customer uploads inspection photos or videos.

“The automated process replaces humans in repetitive work at a very high accuracy level that saves cost and increases customer satisfaction by reducing the time required to renew a car insurance policy," Kotak General Insurance said in its statement.

The technology will also help detect fraud based on pictures and videos uploaded, and hence aid the underwriting process, the company added.

“The do-it-yourself (DIY) process will help enhance customer experience and reduce turnaround time and frauds. Over the past few years artificial intelligence has become a mainstay for several of our businesses, and we at Kotak General Insurance have also spruced up technology to provide seamless solutions to our customers. We hope to serve our customers better with this new technology addition," said Suresh Sankaranarayanan, Chief Technology Officer, Kotak General Insurance Company Limited.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout