fbpx
Tuesday, 29 June 2021 14:09

June CIECAST Explores Future of AI in the Collision Repair Industry

Written by

Index

...the ability to go to the intake yard, take photos and obtain a line-by-line, detailed estimate in less than three minutes, a significant reduction in the time and skills required by a repair shop appraiser to complete and submit an estimate, taking less than 10 minutes on average.”

 

du Toit recommends using AI “to validate and justify the appraisal already received from the insurer to make sure you’re not missing any actions, procedures or labor times. This will significantly reduce cost to deliver against the ‘new normal’ whilst driving significantly improved customer experience and customer satisfaction ratings. Body shops want to repair more vehicles, and by implementing this technology, you’ll have that opportunity.

 

“The benefits for body shops and MSOs are vast,” du Toit added, suggesting a digital platform with enhanced automation, which allows for seamless interaction between all parties, is “the holy grail” and leads to accurate, consistent outcomes.

 

“Body shops and MSOs that embrace this in their processes will most certainly lead and probably win this race,” he said.

 

Looking at next-generation AI, Davies explained the objective is “to automate the claims management process as much as we can, and to do so in the appropriate way, by using advanced AI algorithms […] which allow us to enable human-level decision making and provide insights and information that can predict and project the direction of where a claim should go. By doing so, we can increase the efficiency and accuracy of the claims workflow process.”

 

The meta data collected through Computer Vision flows into the decision-making process of how to best create a dynamic workflow based on consumer needs and behaviors, which can be further augmented with more information about the vehicle itself.

 

“Advanced AI algorithms allow shops and insurers to utilize information obtained during the claim initiation to flow into the decision-making process to create a dynamic workflow,” Davies said. “The outcome of AI across its entire life cycle will result in increased renewals, increased cash out settlements, reduced leakage, improved margins, auto authorization, increased straight through processing and claims auditing.”

 

AI assists shops in determining the way to...