Policy Check is the only solution that enables commercial insurance carriers and brokers to automatically check a policy against a binder to prevent errors and omissions (E&O) which can cost insurance companies millions or even billions of dollars in liability.
TORONTO (PRWEB) September 23, 2019
Chisel AI, a technology provider for the global insurance industry, today announced an enhanced version of Policy Check, an AI-powered solution that enables commercial insurance carriers and brokers to digitize and standardize the process of checking an insurance policy against a quote, application, submission, expiring policy, or binder in seconds.
The latest version of Policy Check has an enhanced user interface that allows underwriters and knowledge workers to spot errors and omissions at a glance and view an on-screen summary of actions required to resolve any errors or inaccuracies.
The new UI elevates the user experience and dramatically reduces the time and heavy lifting required to validate policies. Chisel AI debuted the new version of Policy Check at the InsureTech Connect conference in Las Vegas.
“Policy Check tackles a significant pain point in the insurance value chain,” said Ron Glozman, CEO of Chisel AI. “Commercial insurance policies are lengthy and complex documents – and someone has to read every page to validate their accuracy. For decades, carriers and brokers have sought to automate this painstaking process of manually checking policies. Policy Check is the only solution that enables carriers and brokers to automatically check a policy against a binder to prevent errors and omissions (E&O) which can cost insurance companies millions or even billions of dollars in liability.”
With Policy Check, carriers can gain the trust and loyalty of brokers and MGAs, ultimately winning more business.
“Our goal is to use innovation to deliver solutions that result in better business outcomes not only for our customers, but also for our brokers and distributors,” said Sumeet Bhatia, head of Innovation for Zurich North America. “We are proud to have recognized the potential of Chisel AI by naming the company as the Gold winner of Zurich’s first Innovation World Championship at the beginning of the year. Zurich is currently running a proof of concept on Policy Check and we look forward to experiencing faster turnaround times and higher quality deliverables for our customers.”
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 http://www.chisel.ai.