March 28, 2022

Convr Awarded Patent for Novel Method of Extracting and Presenting Data Using Machine Learning  

USPTO_office

CHICAGO (March 28, 2022) Convr AI®, the leading Artificial Intelligence (AI) company enabling a frictionless commercial property and casualty (P&C) insurance underwriting experience, announced today that the United States Patent and Trademark Office has issued U.S. Patent No. 11,270,213 relating to technology underlying Convr’s d3 Risk 360™ data lake capabilities.

Convr’s patented d3 Risk 360™ technology provides underwriters with a unified view of a business’s digital footprint, including history, DBA, credentials, license, filings and more, allowing for efficient and informed risk assessments. d3 Risk 360™ utilizes machine learning to read and extract structured data from non-standardized documents. That data is then graphically presented to the underwriter via an intuitive card-based view, allowing for more detailed drill-downs as needed.

“Convr continues to lead innovation in the AI commercial insurance underwriting space, and this second patent serves to recognize our efforts in improving commercial P&C underwriting by using machine learning and related technologies,” said Convr’s Co-founder and President, Harish Neelamana. “Our engineers and data scientists are constantly looking at technical solutions for optimizing our customers’ submission and risk-assessment processes, leading to a more efficient underwriting experience and superior customer outcomes.”

Convr’s Underwriting Command Center supports all core P&C commercial lines of business and classes. All parts of the platform are available via a highly intuitive underwriting desktop, as well as through system-to-system API connectors.

Convr enables four core use cases:

  • d3 IntakeTM reads and digitizes submission paperwork, such as ACORD applications and loss runs, to reduce manual data entry 
  • d3 Risk 360TM provides additional insights on risks from thousands of third-party data sources 
  • d3 AnswersTMuses artificial intelligence (AI) to classify a business and respond to underwriting questions, saving significant underwriter time while improving consistency and accuracy 
  • d3 Risk ScoreTM enables risk selection and prioritization to better focus downstream underwriting resources

About Convr AI® 
Convr AI is a modularized artificial intelligence 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 AI 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. To learn more, visit convr.com. Follow Convr on Twitter, Instagram, LinkedIn and YouTube. 

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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