ACORD, the global standard-setting body for the insurance industry, has announced the winners of the 2018 ACORD InsurTech Innovation Challenge (AIIC).
The winners, selected during ACORD Connect 2018 in New Orleans last week, were Chisel and RozieAI. Both advanced through multiple rounds of live-pitch competition to defeat nearly 100 other contestants.
Chisel, the winner in the early-stage start-up category, is an artificial intelligence platform that optimises the process of extracting information from submissions, applying natural language processing and AI to unstructured data sources like insurance documents.
RosieAI, winner of the late-stage start-up category, is a language-comprehension and contest-management product that helps brands offer customer care at scale.
Each winner will receive a $10,000 cash award and other prizes, in addition to the prize packages awarded to all finalists.
“ACORD sits at the intersection of insurance, technology and research, and we bring together almost every major carrier, broker, and solution provider worldwide,” said Malou August, vice president of standards and membership at ACORD. “This uniquely positions us to provide this forum to share ideas, help shed light on new innovations and work together to define the future of the industry. Our AIIC winners both represent a strong desire to bring positive change and innovation to the insurance business. They certainly have the potential to advance our industry in compelling ways.”