October 19, 2023
Convr AI® Expands its Coverage for Underwriting Nonprofit Institutions
CHICAGO (October 19, 2023) – Convr AI®, the leading artificial Intelligence (AI) company serving commercial insurance organizations has expanded its Risk 360 AI data lake knowledge graph coverage of nonprofit data. Nonprofit organizations—as identified under section 501(c)(3) of the Internal Revenue Code—share numerous operating and exposure characteristics. As such, underwriting teams find value in data gathered from sources such as the Internal Revenue Service including financial and firmographic information. With extended coverage on nearly two million nonprofits, Convr customers can now gain key insights from better search results.
What kind of data?
The improvement provides insights for nonprofit organizations on the number of employees, total revenue, expenses, assets, liabilities, and other data points essential to understanding the potential risk faced by nonprofits.
Incorporating nonprofit data into the Convr platform further empowers underwriters by centralizing data required to underwrite nonprofits. By deepening the Convr data lake with this data, a more comprehensive review of nonprofit organizations is possible. Our AI has access to more organizations and more data about those organizations to boost and enhance our Answers AI and Risk 360 AI products.
“Better data means better decisioning,” said John Stammen, CEO of Convr. “We’re continually expanding our Risk 360 AI data lake knowledge graph to better meet the needs of our customers.”
But that’s not the only change to the Convr Underwriting Command Center platform in Q3. The application programming interface (API) and user interface (UI) have been improved to now make this information viewable within a new financial data card.
“This latest data integration and upgrade to our API and UI is a prime example of how attune Convr is to our customers and their evolving needs,” said Stammen. “When a customer expresses a need for something, our team of developers finds a way to make it happen. In this instance, we’re tapping new sources of data to expand our offerings.”
To learn more about Convr’s data lake, view our platform page here: https://convr.com/platform/d3-risk-360/.
Convr is a modularized AI underwriting data analysis platform that digitizes and fuses submissions with best sources of information to surface underwriting insights, business classification and risk scores. The platform has revolutionized the industry through data, discovery and decisioning intelligence.
Convr customers include commercial insurance organizations of all sizes, including many of the Top 10 carriers, which use the platform to enable superior performance, optimal efficiency, quality decisioning and world-class customer experiences.