Submission Prioritization for
Commercial Insurance Carriers

Your Challenge

Underwriting is time-consuming. And it’s likely the biggest bottleneck in your office. If you’re like most underwriters, you don’t have a systematic way to prioritize applications. You simply start each day at the bottom of your pile, operating by the industry rule—the first submission in is the first submission out. But what if you could automatically identify the submissions that help you shape your book of business and focus your energy on underwriting those submissions? Ah, what a thought.

  • Accelerate Broker Response Times
  • Win More of the Right Business
  • Enhance Your Underwriting Capacity
  • Expand Your Underwriting Capacity
  • Improve Staff Productivity 
  • Increase Gross Written Premiums

The Solution

Find the right submission. Automatically.

Goodbye, first in, first out. With Chisel’s artificial intelligence solution, you digitize and standardize the submission process. You quickly and easily identify the best submissions to focus on. The ones that fit your book of business and your sales goals.

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Increase Gross Written Premiums

Chisel’s AI Submission Prioritization tool ranks submissions based on key performance indicators—such as projected profitability, broker experience, line of business and acceptability of risk—to identify submissions that your underwriters should focus on. The result? You slash your response times from weeks to days. You become a first responder, winning more of the right business, and increasing gross written premiums.

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Process Thousands of Submissions Daily

Coupled with Chisel’s Submission Triage solution, Submission Prioritization helps you automatically prioritize submissions the way your staff do—just more efficiently. Once submissions are auto-routed to the right underwriter or department, rules are then applied that automatically filter and prioritize the submissions based on likelihood to bind, loss ratio, profitability score, and probability to win. Automatically prioritizing the submissions allows underwriters to focus on the submissions with the highest probability to win and help you shape your book of business.

Increase Profitability with Natural Language Processing

Natural Language Processing (NLP) is a machine’s ability to read language like a human, pulling relevant pieces of information, assigning value to the words, and intelligently analyzing structured and unstructured text.
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Speed, increased

Use Chisel AI’s NLP to extract, classify and analyze unstructured data in policies, endorsements, submissions, quotes, binders, etc. 400 times faster than a human, and with greater accuracy. 
routine

Routine, Automated

Automate high-volume, repetitive administrative tasks so that your skilled knowledge workers focus on high-value, customer-facing initiatives. 
Staff

Staff, Profitable

Deepen customer relationships, provide better advice, underwrite more policies, and ultimately increase gross written premiums.

Recognize Named Entities Faster

Chisel’s AI solution recognizes more than 500 insurance-specific named entities. It extracts and interprets 500 data points in one second, compared to a knowledge worker who can extract only 15 to 50 data points in 30 minutes or more.

Named entities include:

  • limits
  • premiums
  • deductibles
  • types of coverage
  • exclusions
  • endorsements
  • territories of coverage
  • proximity to natural disaster zones
  • city, state, zip code
  • outstanding conditions
  • statements of value
  • loss run reports
  • and more.

As a result, you gain access to more data faster and with greater accuracy for better risk assessment and pricing.

Key Features

real-time

Real-Time Data Extraction

Chisel delivers the most advanced AI solution that extracts, reads, interprets and understands unstructured data in commercial insurance submissions, applications, binders, quotes, endorsements and policies.
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Superior NLP Engine

Chisel AI’s natural language processing engine easily analyzes, classifies, and interprets data automatically, while continuing to learn over time.
API

API Driven

Chisel AI monitors your email inbox or portal natively or can be invoked via the API to extract data from digitally native documents such as PDFs, Word, Excel, JSON and others.

Schedule a Demo

Get a personalized tour of how our advanced Natural Language Processing AI solution can help you digitally transform high-volume, routine tasks, enabling your skilled knowledge workers to focus on strategic high-value account management initiatives.

Write more business and deliver a better customer experience.

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