“RELIANCE GENERAL INSURANCE EMPOWERS CUSTOMERS WITH A RAPID VEHICLE CLAIMS SOLUTION POWERED BY MICROSOFT AZURE AI”

  “RELIANCE GENERAL INSURANCE EMPOWERS CUSTOMERS WITH A RAPID VEHICLE CLAIMS SOLUTION POWERED BY MICROSOFT AZURE AI” 

 

Mumbai, 21^st December, 2020: Reliance General Insurance (RGI), a 100% subsidiary of Reliance Capital, has brought in speed and acceleration to its vehicle claim process by introducing ‘RAPID’ equipped with image analytics powered by Microsoft Azure Cognitive Services and Azure Machine Learning capabilities.  This end-to-end solution has helped RGI provide a much faster and seamless customer experience while making vehicle claims. 

India, which is one of the world’s largest and fastest-growing auto insurance markets, relies largely on traditional ways to renew policies and process repair claims, which usually required inspectors to physically look over vehicles and assess damages. This leads to a delay in the process of inspection, resulting in keeping the cars and policy holders off the road for longer. To mitigate this challenge, Reliance General Insurance collaborated with Celebal Technologies, a Microsoft partner, to create the new AI solution, which allows customers to buy or renew policies anytime, anywhere. 

 

The new age technology uses Artificial Intelligence to identify damage from the vehicle image feeds and procures the correct assessment which gets instantly delivered to consumers.  In this process, right from the accident spot, the insured can access Reliance Selfi app to intimate the claim, upload the photos and documents to get the claim registered. Once the claim is generated, the AI tool starts processing and almost instantly generates a provisional repair work order for the customer. It also gives an option to the customer to opt for on-the-spot settlement which can be credited in customers' account immediately. 

 

RAPID brings down the process of claims intimation to claims settlement period, to complete in less than an hour, from an otherwise time-consuming and hassled process that took an average period of 10 to 12 days. 

 

Talking about this initiative, Mr. Rakesh Jain, CEO, Reliance General Insurance Company Limited commented, “Introducing this AI-based solution, makes the entire vehicle claims process completely superfast and hassle-free for our customers. This technology brings the much-needed acceleration to more than 60% of claims we receive for our passenger vehicles which have just peripheral damages. With the use of RAPID, a significant decrease in the claim processing time is achieved, which will result in an enhanced customer service experience. This initiative connects well with our Brand Philosophy Tech + Heart, offering tech solutions with human touch.” 

 

Venkat Krishnan, Executive Director, Commercial Partners, Microsoft India, said, “Microsoft’s goal is to amplify human ingenuity by making the benefits of AI accessible and valuable to everyone. We are pleased to collaborate with Reliance General Insurance to bring the power of Artificial Intelligence and its transformative impact to reimagine the experience for their customers. We thank our partner Celebal Technologies for creating the solution, which makes the both the renewal and claims processes agile and more efficient, in a secure and scalable manner.”