April 4, 2023
Submission Selection and Prioritization for Better Underwriting
Every day we hear insurance underwriters question whether a submission is worth their time. That’s why almost every one of them has a strategy for moving their best prospects to the top of their work list.
The problem is, they don’t really know which submissions are the best. Until now. Convr has developed a unique Submission Selection and Prioritization Score to help underwriters bring the best submissions to the top of their to-do’s. Using their organization’s existing appetite and business rules, the score is built from findings within Convr’s data lake and discovery from the submission intake process documents. With our easily interpretable score, underwriters find satisfaction working on submissions that have the best chance of getting quoted, bound and being profitable. A simple visual ranking of red, yellow and green makes decision-making easier and more consistent across teams.
With Convr’s Submission Selection and Prioritization Score, you can increase confidence and efficiency while pushing off the submissions that may not match your organization’s business requirements or risk appetite.
Out-of-the-box: Using data from the intake process and our data lake, Convr’s out-of-the-box Submission Selection and Prioritization Score helps your team to easily define your best submission opportunities.
Enhanced: Our enhanced version unifies data from the intake process, our data lake, as well as any company data your team provides for the most comprehensive score to prioritize submissions. You define what matters most to your underwriting team.
- Prioritize your submissions based on your risk appetite
- Better define the types of business characteristics within your risk appetite
- Bring consistency to your risk selection
- Bring better alignment within your underwriting team
- Improve your team’s user experience
Convr can help you meet your goals by embedding the right rules and/or data to enhance your submission selection process. Our Submission Selection and Prioritization Score provides your team with a more reliable methodology for prioritizing incoming submissions in line with preset underwriting rules. The interpretable scores empower your team to grow your book of business faster and more profitably with streamlined decisioning.
Let Convr support the best decisions for your business, today!
Note: You can also utilize our AI-enhanced data and algorithms to optimize your existing proprietary models, data or formulas on a fee basis. Explore your options at https://convr.com/try-now/. Enhance your submission selections and prioritization for immediate efficiency gains.