Renaissance Insurance handles hundreds of insured events every day, and one of the essential elements of this process is calculating damages to vehicles. Up until now, only experts – Company employees or contractors making independent assessments – were involved in  calculating damages. This ensured that the calculations were of high quality, but there were  always certain limitations when it came to the speed and cost of making these calculations. 

After conducting large-scale and detailed testing, carried out on hundreds of cases, the Company decided to begin using an AI service provided by Mains Lab to calculate damages in its  commercial operations. The technology is based on computer vision: which parts of the vehicle  have suffered damage and the degree of damage are determined; hidden damages and the  need to remove or install additional parts for repairs are predicted; catalogue numbers are  updated; the vehicle identification number (VIN) is identified; odometer readings and  information from registration documents are discerned; the amount of necessary repairs is  determined; and a calculation is prepared. The incorporation of this technology will further  improve the level of customer service by speeding up the claims process and improving  operating efficiency. 

“Innovative solutions will have a significant impact on business in the current climate. At the  same time, we are changing the essence of the customer experience, as we are reducing the  amount time customers have to wait for payment or for their car to be repaired”, says Vladimir  Tarasov, Vice President of Renaissance Insurance.  

Sergey Khudyakov, one of the co-founders of Mains Lab, said: “Our colleagues from  Renaissance Insurance have very stringent requirements when it comes to the quality of the  claims process. As our solution was being tested over several months, we got constant  feedback from our colleagues, which enabled us to quickly refine the technology for use by the  insurance company. I am confident that, if a car owner has an accident, our joint product will  make their life a little bit easier.”