October 11, 2022
xx min read

Convr Takes on Snowflake to Better Analyze Data

Capturing data is one thing but using data to figure out and solve problems is a whole other ballgame. That’s what Convr’s usage of the Snowflake Cloud Data Platform brings to the table. Snowflake is a flexible cloud-based warehouse that’s scalable and adaptable and Convr is using the capability to better serve customers by capturing insights that can inform future commercial underwriting. The data warehouse facilitates Convr’s data access and the ease with which we can use it to develop deep insights. For most of the actions taken by underwriters in the Convr Command Center data can be reused for deeper analysis in the future. We enable that capability with Snowflake, which automatically handles all indexing and partitioning, saving time and effort for engineers, data scientists or whoever is interpreting the data. Their auto organizing allows the user to better leverage Snowflake’s structured and semi-structured data to drive meaningful insights.

Sparking a Connection

Through the Snowflake capability, Convr customers can now easily revisit old submission information – to better recall and reflect on the decisions leading up to their underwriters’ risk selections. For example, one way Convr customers are benefiting from Snowflake is through the ease at which mounds of data can be recalled. Snowflake enables a log of all activity and time spent on tasks. So, when an underwriter performs commercial property and casualty searches such as business names – that information can be recalled later and reflected on. The same is true for search results. You can review cards and determine how long an underwriter spent reflecting on that particular topic.

Getting Granular

And you can get very granular views on underwriting activity and what the nature of the businesses are that your underwriters are looking up. You can also look at the business profile and determine from there – that it falls into a certain category of risk similar to that of other businesses within the same industry. Further, you can determine that your team has been looking at several businesses in the same field and find commonalities to help your organization make better selections within that type of risk category. And Convr’s use of Snowflake brings peace of mind with a cloud database that pulls all the information in and stores it long-term, so you don’t have to worry about losing it or not having something that you may want to go back and reflect on in the future. For questions about our use of Snowflake Cloud Data Platform, email Harish Neelamana, Convr Co-founder and President at harish.neelamana@convr.com

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Everyone knows the best models win at taming documents!\nOur Intake module ingests and enriches data from both structured and unstructured documents including PDFs, Excel and emails across commercial property and casualty (P&C) insurance asset types, including ACORDs, Inspection Forms, SOVs, Loss Runs, Schedules, and more.

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.

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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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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

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