Trust, But Verify: The Convr Mantra Comes to Life with Data Cards

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.

And 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.

Plus 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.

See example below:

Sources 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.

Diving Deeper
Occupational 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.

Bring Your Own Data (BYOD) 

There 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.”

With 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. 

What 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. 

You can read how Convr solves your underwriting challenges here on our workbench page: https://convr.com/workbench/.

Or 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.