Investments in artificial intelligence solve real-world problems.
Industries using artificial intelligence are transforming their services and processes. For example, healthcare is using is to automate operations, lower costs, and improve patient care. While years remain before the sector is completely reshaped, the benefits will be truly life changing.
In auto insurance, companies have the power to improve road safety and driver behavior through artificial intelligence and telematics data. This is on top of business benefits like more accurate risk pricing, lower loss ratios, and higher customer retention. However, like other industries using artificial intelligence, many challenges need to be solved before experiencing the benefits of artificial intelligence-powered technology.
Products that collect and process telematics must overcome battery consumption, noisy data, and inaccurate data points. Those that fall short will see low ratings and even lower adoption rates. However, user-forward mobile telematics products that overcome these challenges can have an incredible impact on the world’s roads and drivers.
CMT’s key innovations in signal processing and machine learning provide battery-efficient apps and accurate driving insights to our customers and their drivers. With these innovations, we also figured out how to automate the claims process.
Ignoring the irrelevant detail produced by noisy data, our claims product reconstructs a crash with raw accelerometer, gyroscope, and GPS data. Within minutes, a single story of a claim is available for the insurer to review.
Learn more from the data scientists who overcame the challenges of telematics data to bring Claims Studio to market.