Chisel
AI, a technology provider for the global insurance industry,
today announced Submission Triage, an AI-powered intelligent workflow
that enables commercial insurance carriers to auto-route and
auto-decline submissions, dramatically expanding their quoting and
underwriting capacity without adding staff. Chisel AI unveiled the
solution at the Dig|In
2019 insurance technology conference in Austin.
“Everything is now one click away,” said Ron Glozman, CEO and Founder,
Chisel AI. “Customers expect immediate responses and more than 50% of
the time the first responder to a submission wins the business. Our
Submission Triage solution helps carriers increase initial response
rates from 40% to nearly 100% while boosting their quoting capacity by
50%. By automating the process, carriers can quote thousands of
submissions per day, and issue responses in seconds.”
“When shopping for coverage, today’s tech-savvy, digitally-empowered
customers expect the same quick and painless experience in their working
lives as they’re used to in their personal lives,” said Mike Fitzgerald,
Senior Analyst at Celent. “By automating cumbersome back-office
processes, solutions like Chisel AI’s Submission Triage show great
promise in helping carriers increase their agility, efficiency and
competitiveness.”
In commercial insurance underwriting, the industry rule is the first
submission in is the first submission out. This slow and inefficient
process hasn’t changed significantly in a hundred years, despite rising
customer expectations for a better, faster digital experience. The
time-consuming task of reviewing and routing mountains of submissions
chews up carriers’ quoting and underwriting capacity. Chisel AI’s
purpose-built solution automatically reads submissions and applies rules
to auto-decline or auto-route them to the right department. With Chisel
AI, carriers can write more business and respond faster than the
competition.
For additional information, visit https://www.chisel.ai/submission-triage
or request a product demo at: https://www.chisel.ai/request-a-demo.
About Chisel AI
Chisel AI’s purpose-built solution for commercial insurance carriers and
brokers reads unstructured insurance data 400 times faster than a human
– and with much greater accuracy. Our advanced AI platform and
intelligent workflows fuel the automation of high volume, mundane
underwriting and brokering processes, enabling insurers to double their
business and optimize the customer experience without adding staff.
Chisel won Gold at the 2019 Zurich Innovation World Championship and won
the ACORD InsurTech Innovation Challenge in 2018. For more information,
visit www.chisel.ai.
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