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November 10, 2022
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Convr Streamlining Submission Workflows with Auto-Labeling

The Convr platform automatically labels and routes submissions into separate work queues based on business rules – a process known as auto-labeling.

Commercial P&C insurance quoting is getting easier for underwriters who utilize the Convr Command Center. Now, as submissions are received, the Convr platform automatically labels and routes them into separate work queues based on configurable business rules—a process known as auto-labeling.\nConvr’s Auto-labeling applies artificial intelligence (AI) to enrich, annotate and label items, allowing users to manually assign user-defined tags to submissions, similar to the user experience of tagging emails in an inbox.\nClassifying, sorting, and routing inbound submissions are essential precursors to the underwriting process. Defying the time consuming and labor-intensive tasks underwriting teams often face, Convr’s auto-labeling functionality supports seamless end-to-end workflows, from submission clearance to routing as well as the implementation of business rules specific to a product or team. By leveraging AI, Convr reduces the amount of manual effort required to categorize risks and streamlines the entire underwriting workflow.

How it Works

Auto-labeling extends the Convr embedded AI engine to systematically add tags based on specific submission characteristics. The labels reduce manual effort by eliminating the need for an individual to inspect each submission and route it to the appropriate downstream process. Through our unique auto-labeling system, we’re eliminating unnecessary manual steps for the underwriter, which improves their ability to work smarter and faster as they progress through the underwriting process.\nFor example — Convr automatically identifies “Rush,” submissions, i.e. submissions that needed a quick turnaround. Convr’s combination of embedded AI, natural language processing (NLP) analyzes the submissions to mark submissions as “Rush” and with the power of auto-labelling, all “Rush” submissions are then automatically prioritized at the top of the queue for underwriting review—expediting the submission.

Hearing Our Customers

Our customers talk about underwriting pain points and we listen. With new algorithms and design, our platform is bettering the way commercial insurance organizations operate and do business. We’re upping the game in insurance by significantly improving efficiency, workflow and automation, and our product keeps getting better.\nEven greater functionality is in the works—soon Convr will make these auto-labels individually configurable by end users. Another sign that we’re building the Convr Command Center to be future-proof—built in a way that’s configurable and adaptable to using new technology—adjusting to workflows, configurations and use cases.

Questions?

To learn more about our product development, reach out to Suzanne Vranicar, Business Development Representative at suzanne.vranicar@convr.com

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Powered by Convr AI and the Risk Context Engine – a purpose-built commercial insurance ontology, knowledge graph, and semantic layer that powers a multi-line schema – transforming fragmented submissions into structured, decision-ready intelligence. By grounding every document, application and data source into a consistent schema, Convr Intake ensures contextually complete, consistent, and reliable data from the start. The result is faster processing, fewer manual touchpoints, and improved risk clarity for accelerated MGA Growth.

Through Risk 360 – a commercial insurance data lake comprised of the digital footprints of millions of businesses – Convr standardizes addresses, performs geo-coding, enriches submissions with CAT modeling codes, and adds property intelligence data such as distance to coast and other hazard indicators. The enrichment delivers a holistic decision-ready view of risk prepared for underwriting, rating, and carrier reporting.

By eliminating re-keying and reducing back-and-forth data gathering, submissions are ready to quote in less than 10 minutes! This is how our MGA customers underwrite smarter and faster to unlock substantial written-premium growth without adding to headcount.

If you’re exploring ways to scale faster with AI, better data and meaningful operational efficiency, Convr welcomes the opportunity to share how leading MGAs are using Convr today.\nJust reach out to Convr today to see how we can help!

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  • Source name
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  • Convr update frequency
  • State
  • Last updated date

The new table format makes it much faster and more intuitive for users to locate the data they need. The clickable links are up-to-date avenues that serve as a streamlined source to greater information and transparency into submission data. Our customers have much to gain from this new functionality.\nTogether, these advancements within the platform's user interface mark a pivotal moment, advancing the industry toward a more intelligent and trustworthy underwriting process built on accessible, high-quality data.

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Are You Ready for an Underwriting Workbench? 4 Signs You’re Ready to Implement Now

A commercial property and casualty P&C insurance carrier’s sustainability and long-term success is best determined not only by their approach to solving today’s problems, but how poised they are for adaptation and future growth.\nUnderwriting workbenches are a powerful and effective solution to solving some of today’s top underwriting issues, but how they align to an organization’s existing processes, technologies and long-term goals will ultimately determine their success and lasting power.\nFor underwriting teams and commercial insurance organizations as a whole, there are some not-so-subtle signals that your underwriters could be ready for an underwriting workbench now and for many years into the future.\nTake a look below to see how these four signs show up across the people, processes and technology within your organization:

  1. Underwriting team members are forced to toggle between multiple systems to evaluate a single risk, losing valuable time that could be used working on other higher-value submissions
  2. Critical data is manually rekeyed or copy-pasted across tools, rather than being automatically and consistently captured, losing efficiency and productivity
  3. Documents such as PDFs, loss runs and emails, etc. are driving most underwriting decisions but are fragmented, manually processed files and hard to operationalize
  4. Quote and bind turnaround times are inconsistent or slipping, resulting in missed opportunities and losing business for your organization

\nOur team has deep insurance experience—so we get it. It’s tough to get everyone on board to implement a new tool or end-to-end solution . . . but the number of companies that have realized quick wins with Convr’s off-the-shelf, AI underwriting capabilities is remarkable—so why wouldn’t you give us a go? \n \nIf you’ve done a simple search online, you’ve likely already discovered the Convr AI Underwriting Workbench, considered our capabilities and have some understanding of how our solutions can solve some of your team’s biggest problems. Powered by a commercial P&C insurance ontology, our workbench enriches and expedites submissions decisions – reducing submission through quote times by 70%, increasing new business win rates, and quickly identifies renewal material changes. \nWith Convr you can start with the module that addresses your biggest bottleneck today, then grow into Convr's broader workbench over time. As a refresher, here are some proven off the shelf solutions you might consider: \nIntake: Our Intake engine eliminates manual submission processing by digitally ingesting, preparing and analyzing underwriting documents. For every submission that flows through your business, we extract key data points and augment the information with third-party data to broaden and deepen the risk profile. By automating and digitizing the insurance application process, underwriting teams can quote faster, with more confidence, enhanced application data and deeper insights. \nRisk 360: Commercial insurance underwriting teams can streamline research and enhance applicant data by enriching submissions with the power of AI. Risk 360 is a vast data lake comprised of the digital footprint of millions of businesses—built with an underlying knowledge graph that unleashes detailed insights from the intersection of tens of thousands of data elements. \n \nConvr AI: Deep Learning Models, Agentic and Generative AI are assistive to users generating a risk summary from submission data and helping customers perform their workflow tasks with greater ease, improving productivity. \nConvr has the skill and enthusiasm to quickly roll-out your project and implement one of these programs today. These off-the-shelf options we presented above are standard implementations that can be up and running for your operation in as few as four weeks and are a great way to advance your team’s underwriting business goals. Just ask and we’ll give you a customer reference that recently got up and running in as few as 19 days!\nTo learn more about the many modules within Convr’s AI-powered underwriting workbench contact us today at convr.com. \n

Realize End-to-End Underwriting Excellence with Convr AI

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