Toronto, Canada, January 10, 2019 – Chisel, an AI-based technology provider for the global insurance industry, today announced it has been selected as one of two North America Regional Round Winners to present at the upcoming Zurich World Innovation Championship in Zurich, Switzerland. The competition allows Zurich to find the brightest and best start-ups and entrepreneurs in the insurtech space to partner with to bring compelling products or services to their retail and commercial customers. Winners are chosen by juries of Zurich subject matter experts, innovation leaders, and senior business executives.
Chisel presented how their purpose-built AI solution for insurance enables commercial insurance brokers and carriers to extract, identify and classify unstructured data like insurance documents 400 times faster than a human with significantly greater accuracy. The solution recognizes 500+ domain specific named entities such as limits, premiums, deductibles, endorsements, territories of coverage, etc. giving underwriters quick access to more data for better risk assessment and pricing.
“We’re thrilled to be named a winner for North America in Zurich’s first global insurtech competition. It’s a true honor,” said Ron Glozman, CEO and Founder, Chisel. “We look forward to showcasing the proven results our AI solution is bringing to the global commercial insurance community from enabling them to shape their book of business, expanding their underwriting capacity, and delivering a better customer experience. Leveraging our purpose-built AI solution carriers can augment their human workforce with digital employees, enabling them to do more with the same staff.”
Chisel’s advanced Natural Language Processing and AI platform purpose-built for insurance empowers commercial insurers, to extract, categorize and analyze trapped knowledge from unstructured data sources 400 times faster than a human with greater accuracy. By augmenting their existing human workforce with digital employees, insurers can deploy intelligent workflows to automate E&O policy checking, quote comparison, submission triage and submission prioritization. With the combination of human and digital workers, insurers can cut costs by 80%, mitigate E&O risk, increase underwriting capacity, improve profitability and deliver a better customer experience. In 2018, Chisel won the ACORD InsurTech Innovation Challenge for early-stage companies. For more info, visit https://chisel.ai/.