Blog

Underinvesting in the underwriting experience is costing insurance organizations big time. Not only are underwriting teams bogged down and backlogged with deep stacks of submissions, but their team members are run down by the grind. Underwriters are overworked and let’s face it, it’s making some lose faith in the progression of the business. In an industry that’s already finding it difficult to attract and retain talent, insurance companies need to be primed to bring in the best people and the best solutions. \nIn a 2023 Jacobson Group and Ward Insurance Labor Market Study, 72% of companies reported that they expected to grow their revenue over the next 12 months. Yet 17% of companies surveyed reported that they feel the ability to hire talent has become more difficult compared to previous years.\nWhen eager to grow revenue yet hindered in hiring talent to get their revenue up–there’s an easy answer. Technology can help fill the gap. Improving your tech stack can equal greater job satisfaction for underwriting team members, especially in terms of attracting a younger talent pool. \nYounger talent almost expects convenience on the job as younger team members can have low to no patience for outdated and clunky systems and operations. They want the technology they use to propel them to do good work and not hinder their ability to do their job efficiently and effectively. And young people tend to be future focused, and let’s face it–technology is the future. \nAt Convr AI, we are the future! \nEight years ago, we developed a modularized artificial intelligence underwriting and intelligent document automation workbench that enriches and expedites the commercial insurance new business and renewal submission flow with underwriting insights, business classification and risk scoring. We’re passionate about the commercial property and casualty (P&C) insurance business. As a trusted technology partner and advisor with deep industry expertise, we help insurance organizations transform their underwriting operations.\nRisk 360 AI\nJust take our Risk 360 AI product for example. 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. It’s a human-in-the-loop technology that underwriters can use to streamline and expedite their searches. Rather than pilfering through differing search engines and sites, ours is a one stop shop. The product delivers unrivaled insights from machine learning models that synthesize a vast array of information and deliver a comprehensive view of the submission based on underwriting appetite. \nKey capabilities of Risk 360 AI:

1. Visualize a deeper applicant view
2. Determine alignment with risk appetite with greater efficiency
3. Organize vast amounts of information
4. Empower underwriters to bring their own data
5. Retain and reuse applicant data

In recent years, the rise of technology including artificial intelligence, machine learning and data mining has truly transformed the underwriting process. Companies need to adapt to these technologies now to ensure they can effectively integrate them into their decision-making processes to keep pace with the changes taking place in the industry.\nOn the flip side, there is a high cost that could come with under-investing in the technology that supports your underwriters. Many could be losing interest and leaving to get the support they feel they need from other roles where tech isn’t lacking. Why not invest in technology such as Convr to enable your underwriters to do their best work and enable them to devote their time to higher value work.\nAs all insurers know, time is money. Leveraging AI technologies allows insurers to underwrite quickly, satisfy customers and lower operational costs. If you want to see how Convr’s AI technology could help your underwriting teams increase efficiency and quote business faster, sign up now to meet with our team.

Straight-through processing (STP) of submissions might sound like a pie in the sky concept when your underwriting team is entrenched in the grind every day, but with artificial intelligence (AI) on your side it can’t be a concept that’s too far off.\nAI has become the most transformative technology of our time, tackling some of humanity’s most challenging problems—so it’s not hard to imagine Convr AI has successfully applied the technology solving some of commercial property and casualty’s (P&C’s) biggest challenges. \nConvr is working to automate the entire underwriting process from the initial application submission to the final policy issuance and historical review all while enabling underwriting teams to glean data and insights in line with their workflow and guidelines from our Risk 360 AI data lake. \n \nOur modularized AI underwriting 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.\nTo achieve STP you often need to integrate various technologies and automate different processes into your work, but with Convr’s innovative AI, that heavy-lifting has already been done for you. Each of our four modules can deliver significant process and insight improvements that result in measurable bottom-line improvements for customers: \nIntake AI \nThe journey to optimizing the underwriting process starts with Intake AI. With Intake AI we gather submission documents such as applications and loss runs, and then fuse them with third-party data using intelligent document processing (IDP). Documents are then converted into a structured format ready to be reviewed by your underwriting team. \nRisk 360 AI \nOnce your underwriting team finishes assembling the submission documents, they begin to research the risk. Our Risk 360 AI pulls business insights from thousands of third-party data sources—such as government entities, public records and company websites—and prioritizes the most relevant and accurate information in minutes. \nAnswers AI \nWith massive amounts of data gathered, Answers AI allows underwriters to get fast answers to their specific underwriting questions from our patented, trained AI models. Answers AI identifies risks that underwriters might miss. \nRisk Score AI \nPrioritizing each submission is the work of our Risk Score AI. This score helps the underwriter optimize the selection and prioritization of risks for evaluation and ensures the quoted business fits their risk appetite. \n \nCombined, our suite of products create a frictionless process enriched by AI decisioning, empowering your underwriting teams to make better decisions, faster. Our commercial underwriting workbench delivers superior performance, optimal efficiency and world-class customer experiences to empower your teams to digitally transform how they do business in a matter of weeks.\nAt Convr AI, we’re passionate about the commercial P&C insurance business. As a trusted technology partner and advisor with deep industry expertise, we help insurance organizations transform their underwriting operations through our AI-driven digital underwriting analysis platform.\nAt Convr, we’ve set out to solve the last big problem of commercial insurance while improving profitability and increasing efficiency. So if you’re 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!

When you search a single word or phrase on a regular search engine, you get an insurmountable number of results. Similarly, using a data lake search can help insurance underwriting team members quickly answer user questions or guide them in their data foraging. So, why aren't more property and casualty (P&C) insurance carriers using this type of product if this custom solution is on the market? \nTake Convr’s Underwriting Workbench for example. Here you have a vast data lake with eight years of tested knowledge to dive into thanks to the engineering behind it. Simply searching a business name and address can yield the exact information an underwriting team needs to complete a submission or renewal application. Remarkable! The work that once took hours or days can now be done in minutes or seconds! \nProperty . . . tax, crime or wildfire data—you name it . . . our Risk 360 AI data lake is packed with a vast amount of public and third-party data that gives an accurate, complete look at an application that’s verified across multiple sources.\nThe risk insights that we surface in near real-time improve commercial insurance underwriting productivity by 10x and . . .

• Reduce combined ratios by up to 2%
• Reduce underwriting questions by 70%
• Increase efficiency by 130%

And the cherry on top? We also improve producer/carrier, and customer experience while we’re at it all while being easy to manage from within our simple and straightforward dashboard. \nSo what’s in our data lake?As of 2023, our rich data lake is filled with nearly 762 million entities that are continuously enriched through our purpose-built data pipelines. \nWith Convr’s Risk 360 AI commercial P&C underwriters can:

• Visualize a deeper applicant view
• Assess risk appetite compliance with greater efficiency
• Synthesize the vast amounts of information
• Empower underwriting teams (data science) to bring their own data (BYOD) to our pre-tested models
• Retain and reuse applicant data for modeling, operational and portfolio analysis

Here in the new year while you’re evaluating your prospective tech investments to find efficiencies—why not give your underwriting teams the tool that will give them all that AND an advantage to confidently navigate big data, classify businesses, and to comprehensively detect risk?Convr has changed the game with our machine learning models (MLM) for unparallelled accuracy, consistency and accountability—now it’s just up to you to adopt the tools of the of the future, like Convr’s Underwriting Workbench, today. But don’t just take our word for it, you can actually test us out with a free demo today to see for yourself. Sign up now to meet with our team to see how Convr’s Risk 360 AI can transform how your underwriting teams can better perform and positively impact your performance and profitability. \n

\n

Technology is rapidly transforming most industries. But if the typically slow to evolve insurance industry doesn't implement and integrate digital technologies into existing business processes now, then they could easily fall further behind. 
 
From cloud computing, data analytics, the internet of things (IoT), artificial intelligence (AI), etc.-commercial property and casualty (P&C) insurance organizations have their work cut out for them in terms of adopting the latest technology that will help them achieve their operational and financial goals.  
 
In terms of AI, Convr could be a huge differentiator for commercial insurers. Our 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.  
 
Essentially, what we do is automate and digitize the insurance application process, enabling commercial insurance underwriting teams to quote faster with more confidence by enhancing application data and achieving more nuanced insights to propel them to make better, more informed decisions, faster.  
 
But our trustworthy AI built into our dependable Convr Underwriting Workbench wasn't built overnight. We have nearly a decade of learning underlying our Risk 360 AI data lake containing thousands of data sources that are regularly updated. There's deep lineage and history there that can't be easily replicated.  

And Convr's Intake AI uses our patented, AI-driven engine with user-inspired capabilities for data and insights. You just can't get that anywhere. 

Intake AI: Key Capabilities at a Glance: 
 

• Drive efficiency with straight-through processing: ingest, organize and digitally store all your documents in a single digital asset library, including ACORD forms, loss histories and SOVs-virtually any structured or unstructured document. 
• Avoid data leakage: collect, analyze and retain all the information you've captured in the application process to inform future pricing models and decisions. Benefit from consistency of format and data granularity while assuring historical audit compliance and data sharing across departments. 
• Realize faster speed to quote: digitize and centralize the submission data extraction process, transforming both the underwriting and customer experience. 

For Convr customers that have adopted Convr's Intake AI solution-they've realized results in as little as six to eight weeks, and some have seen a nearly immediate increase in ROI. But even those with strong success stories know that digital transformation is not a one and done kind of thing, but rather an ongoing and dynamic process.  
 

Whether your greatest opportunity is improved profitability, productivity or customer experience . . . you can't get there without an ongoing commitment to digital transformation. True digital transformation requires a strategic vision, strong leadership, and dedication to continuous improvement to navigate the evolving digital landscape successfully. 
 
Organizations that effectively embrace digital transformation often gain a competitive advantage, increase their agility, and the ability to better meet the evolving needs of their customers and stakeholders in the long run. 
 
But don't just take our word for it, you can actually test us out with a free demo today to see for yourself. Sign up now to meet with our team to see how Convr's Intake AI can transform how your underwriting teams perform and positively impact your performance and profitability.  

\n

You don’t have to have a crystal ball or any real psychic ability to be able to see there's a race toward greater technological advancement solutions in insurance underwriting in the future.

Convr is certain data analytics and artificial intelligence (AI) will continue to make an impact on the commercial property and casualty (P&C) insurance industry again in the coming year. More and more insurers rely on these technologies for deep analytical thinking to advance their business strategies and performance, and they’re searching for solutions such as Convr AI.

\n

Already in recent years we’ve seen insurers increasingly leveraging data analytics and AI to:

\n

• Assess risks more accurately
\n
• Price policies effectively
\n
• Analyze historical data to predict potential future risks

\n

Advanced analytics and AI help insurers make data-driven decisions, leading to improved underwriting. When insurers invest in solutions such as Convr AI they’re investing in a workbench solution that brings innovative technology that can keep their company competitive and agile.

The Convr difference:

\n

• Convr is the only platform delivering a full suite of AI-infused commercial insurance tools that support underwriting analysis and decisions
\n
• Convr brings a real-time fusion of submission data and digital footprint
\n
• Convr machine learning models surface critical insights to drive smarter underwriting decisions in-line with existing workflows
\n
• Convr brings quick time-to-value with extensive out-of-the-box features

\n

The Convr underwriting workbench can 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. The business rules framework is fundamental to Convr submission scoring, which is powered by ingested data fused with information housed in the Convr Risk 360 AI data lake.

Customers can digitize, enhance and expedite their underwriting in just six to eight weeks with our core solutions:

\n

Intake AI

\n

The journey to optimizing the underwriting process starts with Intake AI. With Intake AI we gather submission documents such as applications and loss runs, and then fuse them with third-party data using intelligent document processing (IDP). Documents are then converted into a structured format ready to be reviewed by your underwriting team.

\n

Risk 360 AI

\n

Once your underwriting team finishes assembling the submission documents, they begin to research the risk. Our Risk 360 AI product pulls business insights from thousands of third-party data sources—such as government entities, public records and company websites—and prioritizes the most relevant and accurate information in minutes.

\n

Answers AI

\n

With massive amounts of data gathered, Answers AI allows underwriters to get fast answers to their specific underwriting questions from our patented, trained AI models. Answers AI identifies risks that underwriters might miss.

\n

Risk Score AI

\n

Prioritizing each submission is the work of our Risk Score AI. This score helps the underwriter optimize the selection and prioritization of risks for evaluation and ensure the quoted business fits their risk appetite.

\n

Combined, our suite of products create a frictionless process enriched by AI decisioning, empowering your underwriting teams to make better decisions, faster. Our end-to-end underwriting management platform delivers superior performance, optimal efficiency and world-class customer experiences to empower your teams to digitally transform how they do business in a matter of weeks.

\n

If you’re looking to get ahead of the curve with your underwriting operations in 2024, you can explore our offerings at https://convr.com/platform/. Or request a demo from Convr’s Business Development team today here at: Book Now!

Since Moore’s Law was introduced by Gordon Moore, co-founder of Intel, we’ve accepted that the rate of technological advancement continues to accelerate, just as the number of transistors on a microchip has roughly doubled every two years.  

\n

In the property and casualty (P&C) insurance industry that acceleration of technological advancement gives us increased hope that we can better understand and manage risk and thereby provide a better customer experience. 

\n

Sources of Innovation Acceleration 

\n

At Convr, we work to support the accelerating pace of technological change by understanding issues behind it. Our take is that there are four primary drivers of today’s innovation acceleration: 

\n

1. Need — The increasing universe of perils as well as unprecedented severity and frequency growth are helping drive the accelerating rate of technological advancement in insurance. Climate change, natural disasters, social unrest, and mass immigration are just a few of the exposures demanding new assessment and risk mitigation tools. With new perils ever looming, P&C insurers are focusing their technology investments on these emerging realities as well as other more enduring issues such as efficiency and accuracy. 

\n

2. Appetite — Broad and rapid adoption of the internet, digital tools, mobile devices, cloud storage, apps and more are also supporting innovation acceleration. This convergence of new technologies and the appetite for adoption is spurred by new innovation in many fields with both consumers’ and business users’ escalating expectations for ease and quality experiences. Technology utilization among the youngest in our educational institutions is also fueling this demand for new and innovative technologies. The net result is that broad adoption is forcing organizations of all sorts to embrace technological advancements just to stay relevant. 

\n

3. Advanced Capabilities — Faster computers and greater data storage capacity are helping to drive technology forward. Among the resulting benefits of this are faster computations, even as we develop more complex algorithms and data sets. And with that, we are deriving new insights to support better decision-making and experiences. Furthering this gratuitous cycle, are advances in artificial intelligence, simplified approaches to coding and better data analytics tools – fueling accelerated innovation and information mastery. 

\n

4. Knowledge Sharing — Increased collaboration and data aggregation is also fostering technological acceleration. At Convr, we facilitate this by designing pathways for disparate platforms or networks to be accessed simultaneously for rapid consideration and then disseminated as insights at the moment of decisioning. This “collaboration” between technologies and users facilitates the aggregation of data, better and faster decision-making, and also advances the pace of continuous learning. 

\n

Exploiting Acceleration 

\n

At Convr, we believe within the realm of technology acceleration, hyper-connectivity – deploying big data and artificial intelligence applications to advance business efficiency and decisioning – provides an enormous opportunity for profitable growth.

\n

In the insurance space, we prioritize the following disciplines for exploiting acceleration: 

\n

Data Analytics and AI: Invest in advanced data analytics and artificial intelligence (AI) capabilities to analyze vast amounts of data and identify patterns, correlations, and insights related to current and emerging risks. Machine learning algorithms can help insurers collect and process vast data sets, detect early warning signs, predict trends, and develop proactive risk mitigation strategies. 

\n

Geospatial Analysis: Leverage geospatial analysis tools to assess risks related to climate change, natural disasters, social unrest, terrorism targets, or population movements. Mapping technologies can help insurers understand and visualize the potential impact of these emerging issues for specific regions and properties, enabling better risk assessment and pricing. 

\n

Predictive Modeling and Scenario Analysis: Develop sophisticated predictive models and scenario analysis techniques to assess the potential impact of emerging trends on insurance portfolios. This can help insurers evaluate their exposures, stress test their underwriting appetite and producer strategies, and develop mitigation or remediation plans accordingly. 

\n

Methodical Collaboration: Foster collaborations and partnerships with technology providers, and other innovation accelerators to jointly identify and build solutions that can address improved risk management and mitigation. Thinking creatively about partnerships as opposed to competitors can facilitate knowledge sharing and the development of innovative solutions for the betterment of both the insurance industry and customers. 

\n

Customer Engagement and Education: Harness customer input and then utilize technology to enhance customer engagement and decision-making. With supportive training, we can then deliver new tools that deliver documented financial and operational performance improvement.  

\n

The accelerating pace of change will continue to demand nimble technology adoption for competitive advantage and perhaps survival in many industries, but especially within insurance. Where once there was a claims system there is now an end-to-end policy management system. Where there was a team trained in business intelligence tools like Tableau, there is now a team of data scientists using multiple business intelligence tools and AI.  

\n

With explosive computing power at the core of innovation and active machine learning and AI-driven modeling, early investment will deliver sustained competitive advantage so if you are looking to align technology investments with these innovations, the sooner, the better. 

\n

At Convr, we are committed to helping commercial P&C organizations increase efficiency and profitability with improved understanding, management, and mitigation of known and emerging risks. To do this, we help them adopt the best for-purpose, supportive technology that has the flexibility to evolve with the industry and integrate seamlessly with emerging tools and requirements. In the P&C insurance industry the accelerating pace of change gives us hope that we will continue to better understand and manage risk for a safer world and improved customer experience.  

The Convr Underwriting Workbench has a variety of methods and mechanisms built-in to provide quick responses to users. We’ve selected a few examples for your edification.

\n

Training and Tuning forms in the submission process supports processing speed. When a new submission is received within the Convr platform, data is ingested and aggregated within our submission hub. Our platform has been built to understand the formats and layouts of such data contained within the many commonly used document types and attachments to support the speed of ingestion. Ingestion speed is assured by the continuous training and tuning of our software.

\n

Convr expedites clearance using stages for file preparation to increase processing speed. Our approach to file preparation is extracting in steps starting with ACORDs and email. Once this step is completed, then we extract the data from SOV’s and loss runs and supplemental forms. By prioritizing in this way, the clearance/account setup process takes in only the necessary information for each step in the process.

\n

Sequential Processing expedites access from large data sets by consuming in chunks rather than all at once. Within the Convr Underwriting Command Center platform, we ensure quick response time whether it’s retrieving data from customer data or the Risk 360 AI data lake with Sequential Processing. Whenever third-party data is ingested, processed, and accessed from the Convr Risk 360 data lake, we use Sequential Processing to our customers’ advantage.

\n

Concurrent Processing is another methodology used by Convr for simultaneous task management. This is how we ensure fast response time for external data operating asynchronous tasks. An example of this approach is also from the submission process wherein the Convr Underwriting Command Center platform executes multiple API calls concurrently using asynchronous tasks. That translates directly to processing speed.

\n

For more detail, with each external API call, the Convr application places a task request on a set of queues that distributes tasks among multiple workers. This allows each worker to operate on many task requests at the same time. For example, one underwriting team member can action two task requests simultaneously–-one for property data and another for a review, and another underwriting team member can be processing a valuation data request. The results from each external API call can be completed at the same time and stored. Concurrent processing is just one of many ways we ensure quick and complete responses for a pleasant user experience.

\n

It’s just a part of the technology that lies at the core of the Convr Underwriting Command Center platform that was designed for speed.

\n

Accelerate Your Commercial Underwriting

\n

Convr's AI patented technology is transforming the commercial Property and Casualty (P&C) Insurance underwriting process by automating critical steps of underwriting, improving accuracy, and enhancing decision-making. By leveraging advanced technologies and machine learning, the process enables insurers to streamline their workflows, reduce manual effort, and ultimately make better-informed underwriting decisions. As the insurance industry continues to evolve, our artificial intelligence (AI) will play a critical role in shaping the future landscape of commercial insurance underwriting.

\n

If you want to see how Convr’s AI technology could help your underwriting teams increase efficiency and quote business faster, sign up now to meet with our team.

Assessing the risk of an insured accurately is of utmost importance for underwriting teams to keep their company’s books balanced. Often times insurance organizations will pull loss run reports on their policyholders to assess how loss-prone they’ve been over a specific time period.
Insurance providers can get that complete look by reviewing the list of claims generated by an insured, in what’s known as a loss run. Loss run reports give an insurance company a consistent look at their insureds. The report includes information such as the date and description of a loss or incident, as well as the amount that was paid out to the insured by the company following such loss. And the report may yield results showcasing multiple losses.
Digging into the balance sheets of an insured on a routine basis allows insurance providers the opportunity to review the accounting and ensure their premium is adequate. But the process can be tedious. Oftentimes insurance organizations will look to offshore teams to pull loss run reports on their customers to get this information and it can take days to weeks to get the information back for review.

\n

Loss runs are essential for insurance underwriters and brokers to fully assess the risk associated with insuring a particular business. By reviewing the claims history, insurers can evaluate the likelihood of future claims and determine appropriate pricing for the insurance policy. But days to weeks to get a complete picture on an insured in today’s times? Yikes! This isn’t the Stone Age.

\n

That’s why more companies are asking about the loss run extraction capabilities of Convr. Convr AI plays a significant role in helping insurance companies by improving efficiency, accuracy, and decision-making processes. Underwriting teams can utilize Convr’s Intake AI product to ensure they’re extracting all the data pertinent to a risk to review the risk as completely and accurately as possible, including loss runs. Convr takes our customers’ unstructured data and turns it into something that underwriting teams can use to make better decisions, faster.

\n

How it works for loss runs:

\n

Customers send Convr loss run documents via an API, email attachment, or manually drag and drop files from their desktop or other device connected to the Convr platform, then Convr takes the documents and identifies the data within it and converts it from unstructured or partially unstructured data and structures it into a structured file.
Customers can also edit the extraction—via human-in-the-loop (HITL). Human-in-the-loop can help the customer meet any specific requirements or help with any challenges that were experienced during the extraction process by organizing and cleaning up any final details. Convr has a team of experts on standby for this or some customers use their own teams.
The results?
The results are clear cut and straightforward; the data we provide is easy to understand and digest and improves speed to quote for customers. There’s an entire user interface that allows the user to view the entire source document. Users can actually see what the original data was and see a side-by-side table view to compare it to the original data and contrast what was extracted from the loss run.
The outcome takes minutes, not days or weeks, and it happens here in the U.S., during regular business hours, not offshore. So the entire process unfolds in the middle of your workday, enabling your underwriting teams to carry on with business as usual with minimal delays or disruptions. How's that for efficiency?
And our successes with loss runs are nothing new. Convr has been continually training our models since we started eight years ago under the name DataCubes. We’ve processed over 10 million loss runs since then and continue to support larger and mid-size carriers as well as smaller, regional carriers with this important task. And there’s a feedback loop. The more loss runs we see, the more our model learns and is trained and the better it performs. Over time it becomes more accurate and faster as it gets more and more exposed to different documents and training.
Convr brings quick-time-to-value, but it’s really something you’ve got to see to believe. Sign up for a FREE demo now to see how you could realize ROI in as little as six to eight weeks.

\n

What makes Convr's data lake such a valuable resource?

It's not just the data itself, but the insight we offer as we pull all the information together. And that insight gets delivered through a knowledge graph of domain-specific, interoperable data sets to deliver the most accurate commercial property and casualty (P&C) insurance information available on the market.

Our data is P&C insurance-industry specific, organized for the purpose of insurance evaluation and as reliable as any single primary source. Plus, our range of domain-specific sources is staggering, as is our commitment to continuous improvement. In 2023 alone we're ahead of the pack as we have business classification codes for around 60 million businesses (NAICS, SIC).

With eight years of continuous learning, our commercial P&C insurance models have advanced with every point of access. Our data pipelines connect with thousands of data sources that are continually refreshed in concert with source updates. There's no other resource that can deliver the best and most relevant data in-line with your underwriting operation, and that claim is substantiated by our four patents from the USPTO.
Our AI-infused, modular underwriting platform containing our Risk 360 AI data lake significantly simplifies searches from thousands of sources and millions of websites-cutting down on an underwriting team member's manual effort to gather information while simultaneously reducing the number of time-consuming searches from external sources.

With Convr's Risk 360 AI commercial property and casualty insurance underwriting teams can also:

• Visualize a deeper applicant view
• Assess risk appetite compliance with greater efficiency
• Synthesize the vast amounts of information
• Empower underwriting actuarial and data science teams to bring their own data (BYOD) to our seasoned models
• Retain and reuse applicant data for future pricing and claims modeling, operational and portfolio analysis

How does it work?
Our unrivaled insights from machine learning (ML) models synthesize the vast array of purpose-gathered information and deliver a comprehensive view of the submission based on your underwriting risk appetite.

And like we said earlier, the way the information is delivered through a knowledge graph supports your underwriters' process. We expose detailed insights that enable easier interpretation of findings providing your team with a deeper look at search results, as well as source organization and clarity to enable faster discovery that will better guide your decisioning. A historical record is then captured for renewals, operational and portfolio insights, as well as claims and audit evaluations.

The process takes seconds-not hours or days, saving your team time and resources by increasing efficiency and speeding submission-to-quote. And the more updates and current information that gets added to the data lake, the better results for underwriting teams.
Download and read any one of our customer case studies to see how Convr is helping many of the top 10 carriers reach their goals through the power of our expansive data lake within our AI underwriting platform: https://convr.com/resource/case-studies/.\n