AI insurance policy review tools for brokers and risk managers

A commercial package policy is rarely one document. It is a declarations page, a coverage form, a stack of endorsements that change the form, a schedule of locations or vehicles, and sometimes a manuscript wording written for this one account. The answer to "are we covered for this?" often sits in three places at once: the grant of coverage, an exclusion, and an endorsement that adds the exclusion back or removes it.

That is exactly where general AI tools go wrong. A chatbot that has read thousands of standard forms will happily describe what a typical CGL policy says, and it will sound right. Your client's policy may not be typical. A broker who passes on a typical answer instead of the actual wording is taking on errors and omissions risk for nothing.

• Answers from the policy only. The tool should answer from the documents you gave it and say plainly when the policy does not address the question, rather than fill the gap from general insurance knowledge.
• A citation you can open. Every statement should name the document and page, ideally the form or endorsement number too, and one click should take you to the highlighted passage.
• Citations that are checked. Ask the vendor what happens when the model quotes a passage that is not on the cited page. In ChatDocument the quote is compared with the stored text and a statement that fails the check is removed before you see it.
• Comparison across versions. Renewal season is about change: a new exclusion, a lower sublimit, a higher deductible. You want the expiring and renewal policies side by side, with page references on both.
• Extraction to a table. For a book of business or a portfolio of locations, you want limits, retentions, named insureds and key endorsements pulled into a spreadsheet where each cell links to its page.

Add the usual business checks: documents not used to train models, encryption, roles for who can add or only read files, and a price you can predict.

ChatDocument sits in the last row. It shows you what the policy says and where it says it, and it leaves the coverage decision with you.

Put the full policy in one space, declarations, forms and every endorsement, then ask in plain language. These are the questions that save the most page turning:

• Who are the named insureds, and is our subsidiary acquired in March included?
• What are the per occurrence and aggregate limits, and does defense erode the limit?
• Is there a cyber, pollution or professional services exclusion, and does any endorsement change it?
• Which endorsements add additional insureds, and do they require a written contract?
• What is the deductible or self-insured retention for property, and is there a separate wind or flood deductible?
• What notice of claim and cancellation terms apply, and on which page are they?

Each answer comes back with the form or endorsement and page. Open the chip, read the passage, and you have the wording ready to quote back to the client.

If your clients also need to track the certificates of insurance their vendors and subcontractors send in, that is a separate job; dedicated certificate of insurance tracking software handles expirations and compliance checks across vendors.

Renewals are where coverage quietly shrinks. Add the expiring policy and the renewal quote to the same comparison and ask what changed in limits, exclusions, deductibles and endorsements. ChatDocument lines up clauses by topic rather than by page position, so a renumbered endorsement schedule does not hide the change, and it cites the page in both versions. The method is the same one we describe for contracts in compare two versions of a contract, and the feature itself is on compare documents ai.

Up to 5 documents fit in one comparison, so the expiring policy, the renewal quote and a competing carrier's quote can be read side by side. A comparison counts as 3 questions.

For a client with many locations or a broker reviewing a book at renewal, extraction does the dull part. Define columns such as Carrier, Policy number, Policy period, Named insured, Each occurrence limit, Aggregate, Deductible, Additional insured endorsement and Key exclusions, run the folder, and export XLSX or CSV. Every cell links to the page it came from, so a reviewer can check a surprising value in seconds. How to set up the columns is shown in extract contract terms to excel; the feature is ai pdf to excel.

ChatDocument does not issue coverage opinions, does not tell you whether a claim will be paid and does not replace a licensed professional's judgment. It reads the policy faster than a person and shows its sources, so the person who decides spends their time on the decision instead of the search. When the policy is silent, it says the answer is not in the documents and shows the closest passages it checked, which in coverage work is often the finding.

• One broker or risk manager: Starter at $24 per month billed yearly, 500 questions and 2,000 new pages a month.
• A small agency team or a corporate risk department: Team at $74 per month billed yearly, 5 seats, 8,000 pages, Google Drive, SharePoint and Dropbox connected.
• Larger agencies: Business at $249 per month billed yearly, 15 seats, 30,000 pages, audit log and API.

A 120 page commercial package uses 120 pages once per billing period, however many questions you ask of it. All plans and limits are on chat with pdf pricing. Teams moving over from a personal PDF chat app can read ChatPDF alternative for business teams.