StageIncubator/Accelerator | Alive
CogniSure is a developer of a data extraction artificial intelligence(AI) platform to deliver data extraction and analytics to insurance carriers, brokers, and MGAs. Its deep learning algorithms provide insights from data insurance documents such as submissions, loss runs, policies, and schedules, and provide analytical insights to manage risks, and organize and digitize insurance documents. The company was founded in 2019 and is based in Naperville, Illinois.
ESPs containing CogniSure
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
Companies in this market help automate the data collection that occurs at the insurance application stage.
CogniSure named as Challenger among 9 other companies, including Relativity6, Groundspeed Analytics, and Digital Fineprint.
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Expert Collections containing CogniSure
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
CogniSure is included in 4 Expert Collections, including Insurtech.
Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience
This collection includes startups selling AI SaaS, using AI algorithms to develop their core products, and those developing hardware to support AI workloads.
Latest CogniSure News
Sep 16, 2022
Share CogniSure Submission Ingestion API allows commercial insurance carriers quicker access to risk insights buried in submission emails and attachments such as Loss Runs and SOVs. CogniSure AI, an Illinois-based corporation, has entered into partnership with market-leading insurance software provider Duck Creek Technologies, which allows insurance companies to exponentially gain underwriting efficiencies while enhancing their risk decision-making capabilities. CogniSure AI’s algorithms extract data from complex submission documents such as applications, schedules, SOVs and loss runs into structured formats and further derive risk insights for underwriter consumption. Duck Creek customers can easily integrate CogniSure AI’s Submission Ingestion APIs through its Marketplace. With ever-increasing risk complexity and customer expectations, it’s important that underwriters focus their time on risk assessment and nurturing relationships rather than manually extracting and aggregating data buried in PDF/Excel documents attached to submissions. PropertyCasualty360 reported that commercial insurers receive roughly 100 million submissions each year; as such, underwriters are extremely selective as to which risks they are willing to work. A majority of the commercial submissions come in emails, and unstructured data is one of the biggest challenges to digitization of commercial underwriting operations. Related Posts “Unstructured Data ingestion is a big challenge for property and casualty (P&C) insurance carriers, and we are excited to have CogniSure AI join the Duck Creek solution partner ecosystem. CogniSure AI drives significant operational efficiencies and helps underwriters make better risk decisions by providing access to data that is buried in unstructured documents,” said Robert Fletcher, Head of Global Partnerships at Duck Creek. Sai Raman, Founder & CEO, CogniSure, said, “We’re really excited to roll out our submission intake solution for Duck Creek customers. We believe it’s a tremendous opportunity to complement the Duck Creek platform and drive the automation of underwriting submission processes. We have invested significantly to pre-train our solution through large volumes of insurance documents such as loss runs and schedules to make it production ready and deliver best-in-class precision and responsiveness.”
CogniSure Frequently Asked Questions (FAQ)
When was CogniSure founded?
CogniSure was founded in 2019.
Where is CogniSure's headquarters?
CogniSure's headquarters is located at 1770 Park Street, Naperville.
What is CogniSure's latest funding round?
CogniSure's latest funding round is Incubator/Accelerator.
How much did CogniSure raise?
CogniSure raised a total of $50K.
Who are the investors of CogniSure?
Investors of CogniSure include InsurTech NY and BrokerTech Ventures.
Who are CogniSure's competitors?
Competitors of CogniSure include Groundspeed Analytics and 3 more.
Compare CogniSure to Competitors
Groundspeed Analytics offers software-as-a-service-based application submission and data services. The company uses machine learning for commercial insurance data automation, to help brokers and carriers improve financial performance. Groundspeed Analytics was founded in 2016 and is based in Ann Arbor, Michigan.
Cytora provides AI-powered solutions for the commercial insurance industry. The company enables underwriting for commercial insurance via the Cytora API-enabled Underwriting Platform that allows insurers to underwrite more efficiently and deliver fairer prices to their customers.
Carpe Data provides next-generation predictive scoring and data products to P&C and life insurance companies. Leveraging the social web, online content, wearables, connected devices, and other forms of next-generation data Carpe Data's products enables insurers to more accurately predict risks and innovate with new products to meet changing customer habits. Carpe Data was founded in 2016 and is based in Santa Barbara, California.
Unqork operates as a no-code, software-as-a-service (SaaS) platform that digitizes the client lifecycle. The company's patent-pending technology includes advanced calculations, decisions, UI design and workflow for risk assessment and digitization layered on top of legacy IT systems. The company serves financial services and insurance companies to bring complex, regulated products to market without writing a single line of code. The company was founded in 2017 and is based in New York, New York.
Planck operates as an automated, artificial intelligence (AI)-powered data platform for commercial insurance. It offers premiums while reducing loss and expense ratios. It provides global carriers, and insurance technology companies leverage. It was founded in 2016 and is based in New York, New York.
Kalepa delivers decision-support software to commercial insurance underwriters. Kalepa's AI-powered Copilot enables underwriters to focus their time on the highest ROI opportunities and rapidly evaluate, select, and price risk. By analyzing billions of points of structured and unstructured data, Kalepa's Copilot augments underwriters with insights and recommendations on every risk.
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