SortSpoke
SortSpoke is an insurance-focused intelligent document processing provider offering AI-powered submission triage and data extraction for property and casualty carriers, managing general agents, and BPO firms.
Overview
SortSpoke provides document processing solutions specialized for insurance underwriting workflows. The Toronto-based platform uses large language models and machine learning to extract data from ACORD forms, loss runs, and statements of value. The human-in-the-loop approach maintains claimed 100% accuracy while processing submissions with human oversight. SortSpoke's rapid training technology allows enterprises to configure document extraction in less than one day for any document type in any language. Founded by Jasper Li in 2017, the company raised $4.55M in Series A funding in March 2022 from InsurTech NY, IDEA Fund Partners, SixThirty, ScaleUp Ventures, and MassChallenge.
Key Features
- Insurance Document LLM: Large language model trained specifically for insurance documents
- Submission Triage AI: Automated classification and routing of insurance submissions
- Rapid Training: Machine learning models train in less than one day for new document types
- Data Extraction: Automated extraction from structured and unstructured insurance documents
- Data Enrichment: Pre-fill functionality for downstream systems
- Human-in-the-Loop: Human oversight workflows maintaining accuracy
- Multi-Language Support: Processes documents in any language
- Business User Interface: Intuitive design for underwriters without engineering requirements
Use Cases
Property and Casualty Underwriting
P&C carriers deploy SortSpoke to automate submission intake and data extraction from ACORD forms and supporting documents. The platform triages incoming submissions by risk type, extracts policy information, and pre-fills underwriting systems while underwriters verify extracted data through review interfaces.
Loss Run Processing
Insurance companies process historical loss data from carriers using SortSpoke's specialized insurance LLM. The system extracts claim details, loss amounts, and dates from variable loss run formats, enriches data with standardized coding, and integrates with actuarial systems for risk assessment.
Statement of Value Analysis
Commercial insurers automate SOV processing for property schedules and equipment lists. SortSpoke extracts building addresses, values, and coverage details from multi-page spreadsheets and PDFs, validates data consistency, and routes complex cases to underwriters for manual review.
Technical Specifications
| Feature | Specification |
|---|---|
| AI Technology | Large language models, machine learning |
| Insurance LLM | Specialized insurance document model |
| Training Time | <1 day for new document types |
| Accuracy | Claimed 100% with human oversight |
| Document Types | ACORD forms, loss runs, statements of value (SOVs) |
| Document Support | Structured and unstructured documents |
| Language Support | Any language |
| Processing Speed | 5X more submissions per underwriter (claimed) |
| Deployment Time | Weeks (per vendor claim) |
| User Interface | Business user-focused, minimal IT support |
| Integration | Data enrichment and pre-fill for downstream systems |
Resources
Company Information
Headquarters: Toronto, Ontario, Canada
Founded: 2017
Founder: Jasper Li (CEO)
Employees: 10 (as of December 2024)
Funding: $4.55M Series A (March 2022, led by InsurTech NY, IDEA Fund Partners, SixThirty, ScaleUp Ventures, MassChallenge)
