April 25, 2024

Convr AI® and Columbia Insurance Group Renew Relationship and Commitment to Underwriting Excellence

ColumbiaInsurance

CHICAGO (April 25, 2024) – Columbia Insurance Group has renewed its underwriting workbench contract with Convr AI®, the leading artificial intelligence (AI) company serving commercial insurance organizations. For the past four years, Convr has been committed to bringing underwriting excellence to Columbia Insurance Group, supporting their goal to be the most valuable commercial carrier in their market.

“We support Columbia Insurance Group in their mission to achieve increased speed and accuracy in data collection, and thereby improving their risk selection while freeing up their underwriting teams to build stronger customer relationships,” said John Stammen, Convr Chief Executive Officer. 

Convr is an AI-enabled underwriting technology that powers Columbia’s agent portal. Through the partnership, Columbia utilizes Convr’s risk analysis and decisioning tools, Risk 360 AI™ and Answers AI™, to uncover deep underwriting insights while increasing quote accuracy and turnaround time.

Together the modules work to do the following: 

  • Risk 360 AI streamlines research and enhances applicant data with the power of AI. 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. 
  • Answers 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. 

”We’re proud to be helping Columbia make data-driven underwriting decisions that accelerate quote turnaround time with straight-through processing, reduce expenses, minimize losses and provide a near real-time customer experience,” said Harish Neelamana, Convr Co-founder and President. 

About Convr AI®

Convr is an AI underwriting and intelligent document processing workbench that drives world-class customer experiences. It delivers premium growth, insights and efficiency for commercial P&C insurance organizations of all sizes, including many of the top 10 carriers, MGA's, Brokers and Reinsurers. Convr is revolutionizing the industry through data, discovery and decisioning intelligence.

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