Property-casualty insurer The Hartford is adopting artificial intelligence technology from London-based insurtech firm Tractable for a system that analyzes damage to vehicles it insures.
Tractable’s technology uses photos and AI to assess damage at rates faster than humans can, which allows for a faster claims process, according to Tractable.
“Computer vision is accelerating accident recovery; the technology is here, it’s on the ground and it’s making a difference,” Â Alex Dalyac, co-founder and CEO, Tractable, said.
Financial details of the deal were not disclosed.
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Tractable was co-founded in 2015 and has since raised $55M in venture funding.
