Artificial Intelligence - July 23 2019
Chisel’s CEO and founder Ron Glozman sat down with Abel Travis, host of Insurance Innovators Unscripted Podcast, to share how Chisel AI is helping insurance brokers and carriers revamp workflows like policy checking and application intake to meet their fiduciary duties and deliver a better customer experience.
One business scenario they discuss is how typically 20% of all the submissions received by most carriers are not within the carriers’ risk appetite. With Chisel AI’s Submission Triage solution, carriers can quickly and easily identify the 20% of applications that do not fit their risk appetite and automatically filter them out. This enables carriers to focus their time and effort on the business they want to write, giving them a lift of 20% on their premiums. Imagine getting a 30 – 50 percent net premium lift simply by automating application intake including the ability to intelligently auto-decline and auto-route submissions.