Ping An Insurance continues to be an unlikely innovator in the field of artificial intelligence, announcing a new, mobile-based auto insurance claims system.
Developed by subsidiary Ping An Property and Casualty Insurance Company of China, or “Ping An P&C”, the solution is designed to allow drivers to immediately make insurance claims through a specialized app, uploading any relevant photos in the process. On the back-end, Ping An’s AI technology will assess the damage together with the driver’s records, and can immediately dispense compensation from what Ping An P&C described in a press release as “a dynamic credit quota”.
“The new system is based on the AI smart claims credit model built with technologies such as image damage assessment, OCR bills identification, and biometrics,” the company explained.
It’s the latest innovation from an insurance company that has proven itself to be very open to experimenting with innovative technologies. Back in 2016, for example, Ping An announced a facial recognition system for use in processing online loan applications; and last month, Ping An subsidiary OneConnect announced that it had developed a text reading AI system that demonstrated a near-human level reading comprehension capability in a highly regarded Stanford-based evaluation.
Ping An P&C says this new insurance claim system, meanwhile, was trialled successfully in the province of Guangdong last month, and that it’s now prepared to “go online across the country”.