Frequent urban flooding and the collateral damage to motor vehicles that results is spawning a tech-driven industry aimed at improving predictive modelling and speeding up claims processing for auto insurers, as well as mitigating loss for vehicle owners.
According to insurers, the technology tools used range from catastrophe modelling via artificial intelligence (AI)-driven software to data mining and automation for claims processing. Flooding in Bengaluru’s technology capital in early September increased demand for tech-driven tools among auto insurers and vehicle care providers, who are swamped with claims. This is similar to previous incidents in Chennai, Mumbai, and Delhi.
