Tractable wins US AI contract
Tractable has won a contract to provide its suite of AI solutions to US insurtech Root Insurance.
Root Insurance will use AI to streamline and accelerate its claims operations by assessing and responding to subrogation demands more accurately and efficiently.
Subrogation is the process by which two insurance carriers align on the split of expenses when multiple parties are involved in a claim. Tractable’s AI Subro solution reviews subrogation requests made by one insurance carrier to another and helps them to reach consensus more quickly and consistently.
Mark LeMaster, chief claims and customer service officer at Root, said: “Implementing AI effectively will set the next generation of insurers apart from incumbents by creating greater efficiencies and a frictionless experience for consumers. The industry-leading accuracy and breadth of Tractable’s solutions made for a clear choice as our AI partner and serves us well in our mission to deliver world-class technology when it matters most for our customers.”
Alex Dalyac, co-founder and CEO of Tractable, said: “It’s been exciting to watch Root’s rapid growth and to now partner together and help drive Root’s frictionless customer experience forward. As the technology-first, customer-centric carrier, Root’s adoption of solutions that get its drivers back on the road more quickly after accidents demonstrates to the industry that AI is the future.”
