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When it comes to artificial intelligence (AI) Convr AI really has it going on. Our modularized AI underwriting, data and intelligent document automation workbench enriches and expedites the commercial insurance new business and renewal submission flow with underwriting insights, business classification and risk scoring. \nThe workbench is filled with tools that are designed to automate the application of your underwriting guidelines with the flexibility to adjust with your experience—so that every new submission or renewal is consistently processed to reflect your risk appetite, both in terms of selection and prioritization. \nAnd our favorability among some of the top 20 carriers proves that we are a trusted source of insurance intelligence and efficiency, helping customers query their data and ours to get more accurate answers faster. We enable data validation through our data catalog and displayed data lineage, including source derivation, date last updated, name of data source and direct linkage to the source of data.\nWhat more makes Convr AI’s Underwriting Workbench best in class?

• Our workbench was built with AI as its foundation with large language models (LLMs) and deep learning synthesizing data and patterns since 2016

• Convr’s domain-specific platform protects against drift and hallucinations

• Our human-in-the-loop assisted workbench embeds continuous compliance guardrails around decisioning inputs and outflows

• Our targeted learning interactions advance domain expertise

• Our Risk 360 AI data lake considers all available related source data to safeguard against discrimination

• All types of AI are embedded throughout the Convr Underwriting Workbench, taking advantage of best in breed for purpose \

What types of AI are infused in Convr’s workbench? \nDeep Learning: With Intake AI, the Convr workbench uses Deep Learning to ingest, extract, classify and digitize any asset type, file or document form, from PDF to Excel spreadsheet to hand-written notes – structured and unstructured. For instance, it ingests medical claims, financial and broker forms, Loss Runs, SOVs, endorsements, ACORDs, etc.\nLarge Language Models: Through Answers AI, the workbench uses LLMs to choose the best answers to underwriting questions and to identify the best NAICS or SIC codes for business classification.\nPredictive AI: With Risk Score AI, the Convr workbench uses Predictive AI to develop Scores for the likelihood of loss in the coming 12 months for Workplace Safety and Commercial Auto, and to rank submissions based on risk appetite.\nHybrid AI: With Risk 360 AI, Hybrid AI is the foundation of our Risk 360 AI Data Lake that not only surfaces the most relevant information about a risk but also continuously enriches data and algorithms to the underlying knowledge graph with new learning leading to a learning loop for exposure identification. This data is then surfaced across workbench functions.\nGenerative AI: Generative AI with our new Co-pilot will enable underwriters to cull their underwriting knowledge base (including data extracted from surfaced from Risk 360 AI and submission Intake AI, as well as actions taken and underwriting guidelines) for content relevant to an individual risk. Output will include a summary and citation to the source document. The workbench co-pilot will be chatbot-enabled for Q&A.\nConvr AI is the tool of the time—and of choice, for many top 20 carriers, MGA’s and brokers that are selecting to streamline and expedite their workflows and to improve speed to quote. It’s a more human-centric approach—putting the underwriter first, putting them in the cockpit of a more advanced, unified and efficient process.\nOutpace your competition today with a modularized artificial intelligence underwriting and intelligent document automation workbench that enriches and expedites the commercial insurance submission flow with underwriting insights, business classification and risk scoring.\nTo learn more about our modern AI underwriting workbench request a demo from Convr’s Marketing Team today: https://convr.com/about-us/contact/.

At Convr AI, we have a team of insurance professionals with more than 100 years of combined commercial property and casualty (P&C) insurance experience. Together, they like to say trust but verify—trust the information within the Convr AI Underwriting Workbench but validate at the source.\nAnd you can easily do that with the data cards embedded in the Convr AI Underwriting Workbench. The cards assemble an array of information about a submission to enable underwriter review in one fell swoop. This gives underwriters the confidence they need to advance their submissions and make decisions about the applicant based on having the right data at hand.\nPlus underwriting teams can see our digital footprint score while there. It includes things such as the size of business, nearby businesses, and the insured’s industry category. Based on a comparison with other like businesses—it might have a high or a low digital footprint score—giving users the confidence to know they can make sound decisions about a submission based on the data found in the Convr AI Underwriting Workbench.\nSee example below:\n

\nSources are also listed. So, when trusting but verifying, our platform also shows where the data is pulled from demonstrating data lineage. This includes the source of the data—such as OSHA, FEMA, the paycheck protection program, secretaries of state data and more—and the source update date. This provides the information an underwriter needs to be able to trust the data by verifying its source and date.\nDiving DeeperOccupational Safety and Health Administration (OSHA) inspections are interesting findings to look at as they give information about violations and complaints. These cards also link directly out to the OSHA website to provide the information in more detail to the user whether it's the underwriting assistant or underwriter, again saving them time from having to go to multiple sources such as Google or the OSHA webpage. This link direct to the OSHA information allows them to do the review more swiftly, enabling them to move on to perform their decision making task.\nBring Your Own Data (BYOD) \nThere are thousands of data sources that are available in the Risk 360 AI data lake, including public data sources (e.g. OSHA, FEMA, etc.) and additional private data sources (e.g. D&B, CoreLogic, etc.). Convr also has a concept of Bring Your Own Data, “BYOD.”\nWith BYOD, your current best data sources can be combined with Convr data and models in the Convr AI Underwriting Workbench. This is a way to supercharge your trusted sources and models in a single powerful environment that delivers a more comprehensive insured view and risk selection with greater confidence. We work with customers to include these enhanced data sets into submission prioritization rules, models, riskscores and answers. \nWhat this means is if there is an in house data model or in house data sources that your teams are using to make decisions, we can also bring that data directly into Convr’s AI Underwriting Workbench so that it is all available in one place—available for your user, walled off from any other Convr customers, but made available on our screens for the user to use as part of their decision-making process. \nYou can read how Convr solves your underwriting challenges here on our workbench page: https://convr.com/workbench/.\nOr sign up now to meet with our team to see how Convr can help your underwriting teams better perform and positively impact your efficiency and profitability.

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Generative Artificial Intelligence (gen AI) is a rapidly evolving field, with new advancements continually expanding the possibilities for creative and practical applications.

Gen AI refers to a category of artificial intelligence systems designed to create new content for users. This can include text, images, music, code, or even complex data patterns. These systems are called "generative" because they can generate new, previously non-existent data, rather than simply processing and analyzing existing data.

Generative AI is set to play a pivotal role in the evolution of insurance underwriting, driving greater efficiency and accuracy in the industry. At Convr AI, customers use our gen AI to speed up the underwriting process. Now they can generate data designed to aid commercial P&C insurance underwriting teams in completing submissions through our Intake AI product as part of the Convr Underwriting Workbench. Generative AI is the perfect solution for extracting data due to the vast amounts of manual data extraction required during the insurance underwriting submission process.

How Intake AI Works:
Convr's Intake AI is used to eliminate manual submission processing by digitally ingesting, preparing, and analyzing underwriting documents. For every submission that flows through our customers' business, Convr extracts key data points and augments the information with third-party data to broaden and deepen the risk profile. By automating and digitizing the insurance application process, underwriting teams quote faster, with more confidence, enhanced application data and achieve more nuanced insights.

And it's a win for underwriting teams as the AI leads to productivity improvement. It allows underwriters to focus more of their time on other tasks and duties such as engaging with customers, evaluating exposures, and more. And there are benefits to their customers as well. The generative AI allows for more accurate pricing and quotes, where customers have the right level of coverage at the right price.

Here are more of the benefits broken down:
Efficiency and Speed:

Our AI can process large volumes of data and complete complex analyses much faster than human underwriters, significantly reducing the time required for underwriting decisioning to unfold.

Accuracy and Consistency:
Generative models reduce human error and bias, providing consistent and accurate risk assessments that informs the underwriter to provide appropriate coverage amounts. Cost Reduction:
Automating parts of the underwriting process can lower operational costs by reducing the need for manual data entry and error correction. Scalability:
AI enables insurance underwriting teams to handle a larger volume of applications, increasing their capacity without a corresponding increase in underwriting resources. Innovation and Differentiation:
Insurers can develop innovative, tailored products that better meet the needs of niche markets or emerging risks, gaining a competitive edge.

But while the use case in underwriting is apparent to Convr AI and our customers, not everyone may be sold on the idea. There are some in the industry who believe AI of any type is bad for one reason or another or that it will replace their underwriting team members, however, Convr AI is built with these concerns in mind. Our AI is not placed directly in interactions with customers and the technical workbench is designed to include humans-in-the-loop (HITL) to ensure human touch, judgement and quality customer engagement.

But Convr does not stop with just Intake AI. There are other AI-centric modules within our full suite of modularized products that inter-operate to best meet your needs. Read how we can flex to best solve your problems here on our platform page: https://convr.com/workbench/.

Or sign up now to meet with our team to see how Convr's Intake AI and other modules can transform how your underwriting teams can better perform and positively impact your performance and profitability through the power of our AI.

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The time to embrace AI is now, not later. \nWhen we think of artificial intelligence we often think of the sensational: job displacement, loss of control and some of the pop culture sci-fi narratives and how robots could soon be taking over the world.\nBut Convr’s AI is not that. We are assistive in nature, a friend not a foe, and there is no reason to go running off when you hear about our AI. It is usually a lack of understanding surrounding AI that makes people nervous. Many people just don't fully understand how AI works which leads them to feeling anxious about the potential impact the technology could have on business, society and our future. \nThat is why it is essential to address these concerns through education, transparency, and responsible development and deployment of AI technologies. And that is what we are doing at Convr. \nTake a minute to hear about what we can do for your underwriting operations through the power of our Intake AI, and you might get a better sense of how we are not trying to take over the world, but rather create efficiencies in how you do business whether you are an insurance carrier, producer, reinsurer or MGA/MGU.\nWhat is Intake AI? \nYou can increase speed to quote using our intelligent document processing (IDP) capabilities. Our Intake AI engine eliminates manual submission processing by digitally ingesting, preparing and analyzing underwriting documents.\nFor 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 quote faster, with more confidence, enhanced application data and achieve more nuanced insights. \n \nNearly all of your insurance organization peers tell us that their topchallenge today is transitioning old processes and systems to more efficient cloud-based, digital workflows. Where is the fear in that? \n \nWe have tackled this challenge head-on with our innovative submission automation solution—Intake AI is a key component of our suite of tools, revolutionizing how underwriting teams operate, leading to improved performance and profitability for your organization. \n \nOur machine learning models excel at ingesting, parsing, extracting, and digitizing multiple submission documents with precision and speed, facilitating seamless clearance, rating, and loss analysis. Our approach prioritizes efficiency, offering transparency to source lineage for streamlined submission processing, operational insights, and portfolio analysis. And that analysis still requires a human-in-the-loop (HITL) at times to triage submission applications. Your underwriters are still very much needed and wanted for that work. \n \nOur intelligent intake technology empowers insurers to automate submission intake and triage processes, outperforming manual efforts in both speed and data completeness, but not replacing workers by any means! \n \nBy adopting our technology, your organization will achieve operational and financial goals, while enhancing user experience. Are you ready to unleash the transformative power of Convr AI? Or do you need more convincing? \n \nAt Convr, we have set out to solve the last big problem of commercial insurance while improving profitability and increasing efficiency. So if you are looking to get ahead of the curve with your underwriting operations this year, you can explore our offerings at https://convr.com/platform/. \nOr request a demo from Convr’s Business Development team today here: Book Now!

Approximately 65 percent of all commercial insurance applications are scanned, and many are in formats that cannot be accurately processed by many software applications. That screams of yet another issue that slows down and creates more work for underwriting teams. Today’s submissions need more than standard optical character recognition (OCR), they need artificial intelligence (AI) based intake technology trained specifically for insurance. Your submissions need Convr’s Intake AI. \nAbout Intake AIConvr’s Intake AI 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.\nOur machine learning algorithms have been trained on thousands of insurance documents to understand the relevance of each data element. That’s how they can convert your submission documents into meaningful underwriting information–reducing noise and minimizing irrelevant data. Convr technology recognizes the difference between a loss run and a statement of value (SOV), and quickly extracts and contextualizes the data appropriately. It can also rationalize the SOV's from dozens of different carriers.\nThe extracted data is then combined with other information pulled from insurance applications and used to auto-populate the editable fields of the client’s underwriting tools and feed into downstream rating and policy administration systems. Thanks to data science and AI, underwriters can benefit from a more complete view of a submission. \nAbout Answers AIPlus, Convr’s Answers AI delivers expert answers to underwriters’ questions about each insurance applicant’s exposures–another way Convr helps underwriters shed manual tasks to focus their time on selection and pricing. \nAnswer AI streamlines and centralizes all available information about an applicant’s business and answers underwriting questions directly through insurance trained AI models. There are two key components of Answers AI: standardized questions to confirm risk characteristics and business classification. Answers AI identifies exposures that underwriters might miss. It’s like having an expert assistant sitting at your side guiding you along the way.\nConvr’s AI powered underwriting workbench is making underwriting easier and more accurate–increasing decision-making confidence. This is the power of Convr. But Convr doesn’t stop with just Intake AI and Answers AI. There are other services within our full suite of modularized products that inter-operate to best meet your most pressing needs. Read how we can flex to best solve your problems here on our platform page: https://convr.com/platform/. Or sign up now to meet with our team to see how Convr’s Answers AI and Intake AI can transform how your underwriting teams can better perform and positively impact your performance and profitability.

Convr is once again making it easy for underwriting team members to prioritize the best submissions surfacing which applications will drive profitable revenue and those that are not worth the man hours or effort, thus saving time and money for commercial P&C, E&S and Specialty Lines insurance organizations. \nWhen you are bogged down by submissions, nothing is more frustrating for an underwriting team member than spending two to three hours working on a submission only to realize later that they cannot quote that business because of something within the application that they uncover such as a bankruptcy or an OSHA violation. Yikes! Those are the glaring red flags you always wish you knew up front, and with Convr, you can know about them early on! \nWith Convr’s submission score model, underwriters can quickly determine which submissions they should be working on based on a colored indication system within the Convr Underwriting Workbench. Green, yellow, red and even black colored dots within the workbench all indicate different application rankings, prioritizing which applications might be most beneficial for an underwriting team to pursue soonest. The submission score model allows them to easily know which submissions will likely get to the quote stage and get bound.\nHere is How it WorksWhen a business is looked up in Convr’s Risk 360 AI data lake or a submission comes into the Convr Underwriting Workbench, Convr runs the risk against a scoring model that sits behind the scenes. The model is developed in conjunction with the customer, configured based on their specific submission evaluation criteria. How well the submission performs against the scoring model determines the color displayed within the workbench.\nIt is a confidence scoring method which gives cues to the underwriter so they know what they should and should not be spending time on—allowing them to focus on those submissions most likely to bind. The definition of each colored indicator is determined by the customer to align with their underwriting rules/guidelines. The green scores generally indicate to the underwriter that the submission fits their appetite and they should proceed to review. While the items that show up as yellow might need to be referred out to a higher level or to a separate workflow for additional attention, however, with further work, the submission could turn green. \n \nRed and even black indicate that a submission does not have a high chance of getting written and would not be a good use of the underwriting team members’ time. Instead, their time would be better spent focusing on the yellow and green submissions. The confidence method allows teams to very quickly focus on the submissions that they have a high chance of winning. Thus saving their organization time and money.\nTo learn more about our Convr Underwriting Workbench and how your underwriting team can get to the quote stage faster and more efficiently with better information, request a demo from Convr’s Business Development team today: Book Now! \n

More business—hands down, we all want it, right? Growth and more profitability are a good thing, but with it comes added pressure and stress to perform and keep up with the deep stacks of work and demand that comes along with it. \nInsurance carriers and reinsurers need to be able to capitalize on every opportunity that meets their risk appetite and can keep their portfolio balanced. What better way to do that than with underwriting teams that feel empowered and equipped with modern tools and unified workflows and not bogged down with backlog?\nLet us introduce you to Convr AI. \nIt’s the tool of the time—and of choice, the one many top 20 carriers are selecting to streamline and expedite their workflows and to improve speed to quote. It’s a more human-centric approach—putting the underwriter first, making them in the cockpit of a more advanced, unified and efficient process.\nThe Convr Underwriting Workbench data analysis tool is packed with innovative artificial intelligence and machine learning that gives commercial property and casualty insurers, reinsurers, MGAs’/MGU’s, producers and more the ability to augment decision making during these times of increasing uncertainty.\nWhen our customers so frequently must make decisions based on incomplete or inaccurate information, we can fill in the blanks and complete the picture—giving them the key insights and answers to inform their decision to write a risk or not. The human-in-the-loop (HITL) solution surfaces the right data at the right time while accelerating and enriching the underwriter’s understanding through unique knowledge graphs tailored to each submission.\nSounds simple, right? We really do remove the guesswork for underwriting and operations teams!\nTake our Intake AI product for example and you can see how we simplify the entire ingestion process for underwriters. \nHere’s how we do it: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 quote faster, with more confidence, enhanced application data and achieve more nuanced insights.\nPatented capabilities of Intake AI \nIngestion. Ingesting documents in configurable stages from a variety of structured and unstructured documents.\nExtraction. Extracting and digitizing select data fields for clearance, file preparation and underwriting insights. \nQuality Review. Verifying and analyzing field-level documents with “high” or “low” confidence scores to enable underwriting team members to benefit from straight-through processing and in-line quality control (HITL).\nAssembly. Submission application data from structured and unstructured documents and sources, including the digital footprint constructed in Convr's Risk 360 AI.Visualization. Side-by-side the actual document and structured view to fix and/or validate data elements for underwriting insights and analysis and selection.\nValidation. Data lineage with insights specific to source derivation, including date last updated, name of the data source and a direct linkage to the source of the data. \nWhen insurance underwriting teams are already under so much pressure to meet targets related to volume of business written, profitability or other key performance indicators—why not do all you can to alleviate the grind and take advantage of products such as Convr’s Intake AI and other products.\nBy putting your underwriting and operations teams first by investing in top tools of the trade on the market, you can avoid eroding productivity and empower your teams to drive stronger, more consistent underwriting outcomes.\nToday’s underwriters are frustrated by the piles of work and mundane manual tasks that could easily be replaced with technology. They’re well aware that they deserve better and smarter solutions to support them in their work. When time to value is key, solutions such as Convr AI are here and available to improve underwriting performance right now.\nIntroducing dynamic new products and technologies such as the Convr Underwriting Workbench can also reduce operating costs, improve loss ratios and help keep your portfolio balanced. Outpace your competition today with a modularized artificial intelligence underwriting and intelligent document automation workbench that enriches and expedites the commercial insurance submission flow with underwriting insights, business classification and risk scoring.\nTo learn more about our modern underwriting workbench request a demo from Convr’s Business Development team today: \nBook Now!

As all insurers know, there is a critical balance between the time spent on submission review and the need to issue quotes in a timely fashion. And in today’s world of technological advancements employing artificial intelligence (AI) is one way insurers can move quickly, satisfy customers and ensure quality selection—saving time and money for their organization.\nHow does AI save time and money? AI can limit mistakes, organize work, digitize processes, make work easier for everyone and create customer satisfaction—all things that save time and money, along with a better experience.\nAt Convr AI, when customers choose our underwriting workbench, they choose our AI to do all of these things and more. They’re typically in search of better information and increased efficiency; sometimes they want to simplify their \nworkflows. One way they do that is by simplifying and streamlining the intake process with our Intake AI product. \n \nHow Intake AI WorksIntake AI eliminates manual submission processes by digitally ingesting, preparing and analyzing underwriting documents for customers. It also verifies and digitizes structured and unstructured documents such as ACORD, broker forms, email content, loss runs, supplemental forms, statements of value (SOV) saved in PDF, Microsoft Excel and Word and email formats splitting and staging the documents then extracting select data via machine learning models (MLM) to register, clear and analyze insurance submissions in real-time. \nThe digitized submission data is then stored in a digital document library and flagged as high or low confidence. High confidence submissions that meet fitness rules are enriched with the best sources of public and private data for straight-through processing (STP) or underwriting referral and review. \nLow confidence documents are automatically set-up for review by a human-in-the-Loop (HITL) digital assistant to process using a side-by-side online viewing panel that displays the original document on one side with an open form for editing on the other side. The corrected low confidence document is then also cleared for straight-through processing (STP) and/or underwriter rating. \nSo how does Convr supply a more complete look at the risk? Convr’s Risk 360 AI is a 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 \nHow Risk 360 AI Works \nRisk 360 AI requires only a business name and address to streamline submission research and enhance applicant data with the power of AI. Data cards with submission details are then generated through AI features and machine learning models (MLM) derived from Convr’s data lake which regularly streams fresh data from thousands of public and private data sources with more than 85 million businesses and nearly 785 million entities. \nSources of data, DBA’s, business classification codes, business profiles and more are automatically embedded within an underwriting file that includes a snapshot of the submission details enhancing account communications, pricing reviews, claims management and re-insurance submissions. \nSo just these two Convr resources alone—Intake AI and Risk 360 AI—would be more than enough to bring significantly improved focus and efficiency to your underwriting team, getting them on track to do business in an easier way that will in turn speed up submission-to-quote and improve your customer outcomes—saving time and money. \nBut Convr doesn’t stop with just Risk 360 AI and Intake AI. There are other services within our full suite of modularized products that inter-operate to best meet your needs. Read how we can flex to best solve your problems here on our platform page: https://convr.com/workbench/. \nOr sign up now to meet with our team to see how Convr’s Risk 360 AI and Intake AI can transform how your underwriting teams can better perform and positively impact your performance and profitability.

Mid-year and end of the year—July 1 and December 31. Those two dates bring angst to nearly every commercial insurance underwriting team. The mountain of renewals always brings long hours and late nights along with the fear of missing important details in the rush. Not to mention your underwriting team members are missing precious time off over the holidays to put in extra man hours to get all the extra work done. \nNo question, the renewals season is a challenging time. There’s a high volume of renewals, a strong need for prioritization, and lots of data gathering. No commercial renewal is an automatic shoe in, since so much can change as part of their insurance program, new locations, new business units, new property data or changes to a property value . . . it all needs to be updated. Insurance underwriting teams can’t use the same values year over year, they need updated information to perform their renewal underwriting tasks.\nIt’s never an open and shut case. Accounts must be thoroughly reviewed to ensure they are compliant with the latest underwriting guidelines. And all the renewal work gets tacked on top of new submissions that are coming in fast. It’s a lot for any underwriting team member to handle.\nBut Convr AI offers a valuable solution to the challenge of processing renewal applications. It’s a feature we call Material Change Analysis. Material Change Analysis highlights or flags a submission in the Convr Underwriting Workbench when there is a material change in the account year over year. That’s crucial for alerting an underwriter about key developments within an account.\nIt’s a valuable offering Convr can provide to underwriting teams, ensuring they won’t have to start from square one when underwriting renewals. With previous renewal details captured and stored within the Convr Underwriting Workbench, Material Change Analysis reporting provides an efficient and focused view of submission details allowing an underwriter to focus where the data has changed. It helps expedite the underwriting review process, allowing them to review flagged details within a submission, make informed decisions and get to decision points more quickly and efficiently. \nIf you’re intrigued and want to hear more, schedule a demo with our team to witness first-hand how Convr AI can streamline the underwriting process and enhance decision-making efficiency. We look forward to hearing from you.