AI powered insurtech for accurate claims processing
What if you could use data taken from a car crash to help process a motor claim?
This was the question funders asked in 2017 in the wake of Ireland’s motor insurance crisis. From what Michael Flanagan and his team could see, the industry was crying out for a solution to its problems.
From their deep knowledge of the vehicle telematics space the Xtract founders saw an opportunity to change this by introducing crash data into the claims workflow.
Telematics data is critical in accident reconstruction. Unfortunately, accessing and interpreting raw telematics data is not inherently simple nor intuitive. Zoosh added value by designing an intuitive end-to-end experience for claims handlers, policy holders and other parties using the solution. The design focus hasn’t oriented solely around the usability of the system, but also efficiency and indeed a fun factor has been considered.
Zoosh developed the MVP with a swift turnaround and continues to design and develop new features on an ongoing basis, with user feedback taken to account at every stage.
Xtract is unique, as they are device-agnostic, meaning they can utilise data from any telematics provider. The solution analyses 10 seconds of data preceding an accident and the impact itself, then combines this data with other data sources – like weather conditions, vehicle details, Google maps imagery of the road and the surrounding environment and additional photos and video pulled directly from connected dashboard cameras - to better illustrate how the incident unfolded. If a claim is disputed, this objective data is the foundation of the accident narrative.
The solution brings transparency, cohesion and actionable insights to disparate data making it attractive to partners such as Genasys and AXA USA.
Xtract enables our claims team to quickly gather and evaluate all data that is available on an incident, vastly speeding up our decision-making process while also offering superior customer service to our brokers and clients. In partnering with Xtract, we are not only innovating our claims service but also preparing AXA XL for the future shift in mobility
Brent Hoffman
AXA XL Chief Claims Officer
