In a significant development for the motor insurance industry, Adroit Auto Inspection Services, a wholly owned subsidiary of Shriram Automall India Limited, has announced a strategic collaboration with four of India’s leading public sector insurance companies: The New India Assurance Co. Ltd., United India Insurance Co. Ltd., National Insurance Co. Ltd., and The Oriental Insurance Co. Ltd.
This partnership marks a significant step in modernising India’s motor insurance claims landscape. By leveraging automation and AI, Adroit Auto and its PSU collaborators are fostering a transparent and efficient claims ecosystem that promises enhanced satisfaction for customers and streamlined operations for insurers.
The initiative not only sets new standards for the industry but also aligns with the shared goal of creating a sustainable, technology-driven future for India’s automotive insurance sector.
Adroit Auto, a certified MSME, brings its expertise in advanced AI-powered Loss Assessment Services (LAA/DSP) to the table. This technology enables precise damage assessments for claims below INR 50,000, promising faster settlements, reduced costs, and improved accuracy. The partnership aims to streamline the claims ecosystem by benefiting all three primary stakeholders—insured customers, repairers, and insurers.
The collaboration emphasises transparency, efficiency, and fairness, with several advantages for all involved parties:
For Customers: Continuous communication ensures policyholders are informed about the repair progress, enhancing trust. The process minimizes delays, offering a seamless experience.
For Repairers: Accurate damage assessments lead to proper repair approvals, reducing ambiguities and fostering smoother operations.
For Insurers: Automation minimises administrative costs, accelerates turnaround times, improves fraud detection, and helps manage the incurred claim ratio more effectively.
“This collaboration represents a transformative shift in the claims industry, integrating cutting-edge technology with a customer-first approach,” said Sameer Malhotra, Director & CEO of Shriram Automall India Ltd. Highlighting the market potential, he added, “We are eyeing a yearly market opportunity of over 15 million claims under this category.”
Nitesh Chinoy, CEO, Adroit Auto, said, “We are thrilled to collaborate with leading PSUs to revolutionise the claims industry with transparency, efficiency, and technology-driven excellence.”
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