The Challenge.

Insurance companies in India and worldwide find it very challenging to calculate premiums with precision. Premiums are usually based on the risk profile of a property. Risk profiling requires thorough inspection by brokers or field-officers and can usually take more than one visit. Not only is this process challenging but also time-consuming, costly and prone to mis-calculations.

At AIndra Labs, we have a built a solution to automate this process for insurance companies using Artificial Intelligence.

The Solution.

SmartIdentification™ is an AI-powered risk inspection solution for Insurance companies. It uses Computer Vision and Machine Learning algorithms to automate property risk profiling and valuation reporting. SmartIdentification™ is currently used by ICICI Lombard, a leading insurance company in India.

insurtech solution

How it Works.

Click pictures of the property using any camera-enabled device. Smart Identification will process the pictures, identify the objects and it will generate the risk profile of the property.

Input

input

Capture photo of the building
space and upload

Aindra Engine

AIndra Engine

Output

Insurtech  Output

Process the pictures and identify the objects

Improve Business Operations.

Hardware agnostics

Hardware agnostics

Helps process images captured from any camera-enabled device such as smartphones, Cameras, Drones and Surveillance cams

AI-Based

AI-based

Foolproof and self adaptive intelligent solution

Portability

Portability

Risk assessment inside property and on-site venues

Personalization

Personalization

Geolocation and time tagging for on-site property specific information

Cloud-Based

Cloud-based

Zero capex cost and high on adaptability

Runs on DNN based CV and ML platform

Runs on DNN based CV and ML platform

Highly scalable and contextualized risk inspection based on visual, contextual and historical data

The Impact.

Saves cost

Saves cost

Almost 45% less on cost than on-site risk inspection

Saves time

Saves time

Automated claim settlement takes 75% less time than traditional claim settlement

Detects fraudulent claims

Detects fraudulent claims

Poolproof claim settlement reducing fraudulent claims by almost 28%

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