Improve Underwriting Productivity with Convr

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? 

Take 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! 

Property . . . 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.

The 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. 

So 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. 

With 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.