Reads 400x Faster than a Human

Chisel AI Demo, Dig|In 2019

Founded:

2016

Company Website:

www.chisel.ai

Product Name:

Chisel AI

Product Description:

Chisel AI uses Natural Language Processing and Machine Learning to extract, classify and analyze unstructured data like insurance documents 400 times faster than a human and with significantly greater accuracy. Using this data, insurance brokers and carriers, can digitize and standardize routine, predictive sales and underwriting use cases such as Policy Check, Quote Comparison, Submission Triage and Submission Prioritization. Augmenting their existing human staff with digital workers, allows skilled knowledge workers to focus on deepening customer relationships and delivering a better customer experience.

What makes your company or product great?

Our solution is the only purpose-built AI solution for insurance that recognizes 500+ domain specific named entities such as limits, deductibles, premiums, types of coverage, exclusions, endorsements, city, state, country, loss run reports, etc. We extract and interpret 500 data points in one second, compared to a knowledge worker who can extract only 15 to 50 data points in 30 minutes.

Who is your target market?

Commercial Insurance Brokers and Carriers

What is your best success story?

Working with one of the top 5 Global Brokers, they deployed our AI solution to extract, classify and interpret unstructured data from insurance documents achieving 98% machine accuracy. Using the data insights along with our intelligent workflow, Policy Check, they automated and standardized high volume, routine tasks throughout their policy checking process. As a result, the broker saved $1.5 Billion in potential E&O and identified 50% more policy mistakes that were overlooked by humans.