Chisel

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Overview

Chisel AI offers Commercial Property & Casualty insurance carriers and brokers the only purpose-built AI platform that applies natural language processing and artificial intelligence to identify, extract, analyze and categorize unstructured data 400 times faster than a human with greater accuracy. Our solutions empower insurers to free trapped knowledge from unstructured data sources for greater business insights. By augmenting existing staff with digital employees, our customers can reimagine workstreams involving tedious administrative tasks to gain operational efficiencies, cut costs, win more business and ultimately, improve the customer experience.

The only AI platform for insurance that can recognize 500+ named entities and includes insurance specific workflows and models for both carriers and brokers. Insurers can automate and standardize workflows such as:

  • E&O policy checking
  • Quote comparison
  • Submission triage
  • Submission prioritization

Not only can insurers accelerate the time for processing and the time to response, but they can mitigate E&O risk, increase underwriting capacity, cut costs by 80%, and spend more time on value-add customer-facing tasks.

Chisel AI successfully raised one of the largest seed rounds in Canadian history and is funded by Venrock, a leading Silicon Valley venture firm. Venrock invested in Chisel AI due to its compelling value and dedication to transforming how insurance companies address the data challenge. In 2018, ACORD recognized Chisel AI’s platform by crowning it the winner among early-stage companies in its Global InsurTech Innovation Challenge.