Travelers gets into item insurance with insurtech Pineapple

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A technology incubator investment is netting Travelers new AI-driven image recognition innovation for its Traverse personal property and liability insurance product. By partnering with South African start-up Pineapple, Travelers has added the technology to further streamline customer experiences, including for Traverse’s recent expansion into Texas.Built on a modern core platform and debuted in early in 2018, Traverse originally targeted younger, urban consumers in the state of New York. “Although they might be postponing purchasing homes or cars, they are thinking about insuring very specific things that they love, like their mobile phones and laptops,” explains Beth Maerz, senior vice president of customer experience and innovation at Travelers.Initially web-based, the first iteration of Traverse boasted a sub-minute policy purchasing experience using manual image capture and identification. “Customers uploaded an asset’s photo, selected an asset category from a list, named the asset and gave us an estimated value,” says Maerz. As the product was well received, Travelers continued to refine it.Like minds attractOn the other side of the globe, Pineapple was also launching in early 2018 with its “snap to insure” personal property and household contents product. It relies heavily on image recognition technology called computer vision, a type …

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