In today’s challenging business climate of higher premiums, reduced coverage options, and changing underwriting guidelines, commercial lines insurance brokerages and agencies are under pressure to place coverage faster to maintain profitable portfolios. With more selective underwriting and new competitive realities making it tough to find appropriate coverage for challenging classes of business, it is no longer sustainable to spend days or weeks rekeying multiple quotes into Excel spreadsheets to compare limits, coverages, terms and conditions, effective dates, etc., across multiple insurers in a race to identify the best coverage and pricing for your customers.
With Chisel AI’s Quote Compare AI-powered workflow, you can automate and accelerate the process of comparing multiple commercial quotes. You eliminate wasted hours, piles of paper and the potential for human error during the binding process. You can automatically check critical data elements in up to 10 quotes at one time to quickly identify the best coverage, terms and conditions and premium for your customers.
Quote Compare eliminates the need to review each quote individually and then manually enter key pieces of information into Excel spreadsheets for comparison. Simply select the quotes that you want to compare and press the submit button. Within seconds, the quotes will appear side by side on the screen, giving the user the ability to compare them at a high level, as well as review in detail specific sections of each policy. What used to take hours now takes seconds, allowing you to significantly improve your response times and spend more time on high-value account management engagements, rather than tedious administrative tasks.
Natural Language Processing (NLP) is a machine’s ability to read language like a human, pulling relevant pieces of language, assigning meaning to the words, and intelligently analyzing structured and unstructured text.
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.
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