Chisel AI Wins Major Innovation Award from Global Insurance Standards Organization

ACORD recognizes Chisel AI’s powerful platform by crowning it the
winner among early stage companies in its 2018 InsurTech Innovation
Challenge

TORONTO–(BUSINESS WIRE)–#AIChisel
AI
, an AI-based solution provider for the global insurance industry,
today announced it has won the 2018 ACORD InsurTech Innovation Challenge
(AIIC) in the Early Stage category. Chisel AI’s solution beat out stiff
competition due to its groundbreaking approach to solving a key
component of the big data challenge for the information-dense insurance
industry. Not only can the solution extract important information from
submissions, quotes, binders, and policies 400 times more quickly than
humans, but it also accomplishes this with incredible accuracy.


“We are proud to be recognized by the industry standards body with this
prestigious award. This is further affirmation we are truly helping
insurance industry leaders navigate the vast digital transformation
happening today,” said Ron Glozman, CEO of Chisel. “Our AI platform is
proven to save carriers and brokers millions in costs and reduce E&O
exposure by billions. At the same time, it improves employee engagement
levels and dramatically enhances customer satisfaction by eliminating
manual processes that are costly and prone to significant errors.”

Chisel AI continues its path of accelerated growth due to the
demonstrable value its solution brings to insurance organizations around
the world. Winning the ACORD InsurTech Innovation Challenge Award
highlights the relevance of its offering for companies in need of an
innovative approach to managing and extracting high-value information
and enhancing their customer service levels.

About Chisel AI

Chisel AI offers the global insurance industry the only out-of-the-box
solutions that apply natural language processing and AI to unstructured
data sources such as insurance documents. These solutions empower
insurers, reinsurers, and brokers to free trapped knowledge and automate
E&O policy checking, submission prioritization, quote comparison, and
claims triage. 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. Visit us at https://chisel.ai/

Contacts

Chisel AI
Ron Glozman, 416-709-2255
glozman@chisel.ai