Tractable invited the industry to live test its AI as part of an exclusive webinar on AI photo appraisal

NEW YORK, May 21, 2019 /PRNewswire/ -- On April 11^th, Tractable hosted a webinar titled "Distinguish Hype from Reality: How to Evaluate AI and Unlock Value in the Claims Process". A first for any AI photo estimating solutions provider, the company invited participants to submit photos and evaluate the results of its visual algorithms. Participants spanned 20 countries across North and South America, Europe, Asia, and Australasia, representing insurers, repairers, technology providers and investment firms.

Tractable received a significant volume of photo submissions and tested a few select and randomly selected cases during a live demonstration of its core visual algorithms. The webinar featured the company's CEO and co-founder, VP of Research, in-house Auto Appraisal expert, and the Head of Business Development for North America.

The webinar had three key messages for the broader community:

1. The accuracy of a photo estimating AI system is paramount in auto physical damage: at scale, inaccuracies can cost insurers several points of combined ratio
2. Testing the accuracy of an AI photo system is easy: you need only upload a set of photos never seen by the AI and evaluate the results
3. Tractable's AI is trained on millions of auto damage images and repair decisions from opt-in customers and partners across the world

About Tractable: Tractable develops proprietary artificial intelligence algorithms that can learn and perform visual expert tasks to accelerate accident and disaster recovery. Tractable's market-leading tools use photos to automate damage appraisal, allowing insurers to improve accuracy, reduce turnaround time, and deliver a revamped customer claims experience. Founded in 2014, Tractable has a world-class research & development team with over 30 years combined research experience and is backed by $30mn in investments from Insight Venture Partners and other top tier investors. The company's US headquarters are in New York City, with other locations in London and Tokyo. 

You can contact and learn more about Tractable via this link and at www.tractable.ai 

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SOURCE Tractable