Verisk is expanding its claims ecosystem by teaming up with Tractable, an industry-leading, applied AI company. By integrating with Tractable, which uses computer vision technology to visually assess damage to homes, Verisk will be able to significantly help accelerate insurance claims processing and home repairs. Launched last year, Tractable's AI property solution allows policyholders to take and submit photos of damage through a mobile-friendly, web-based app.

The AI, trained on a large database of claims and damaged property, then quickly identifies, classifies and measures the property damage, enabling automated estimates to be generated on Verisk's Xactimate® platform. With Tractable's AI, insurers that use Xactimate can access reliable property estimates and help cut the time to settle a property claim from months to as little as one day.