February 1, 2024
Lucid Insurance Group to Take on Tools from Convr’s Underwriting Workbench
CHICAGO (February 1, 2023) – Convr AI®, the leading Artificial Intelligence (AI) company serving commercial insurance organizations is pleased to announce Lucid Insurance Group will utilize Convr’s Intake AI and Risk 360 AI products to gain greater speed, accuracy and efficiency in their underwriting operations starting in 2024.
Lucid Insurance is an innovative and fast-growing Managing General Agent (MGA) and specialty wholesale producer specializing in middle market, commercial insurance. The organization has several niche areas of focus but is principally dedicated to transforming underwriting results in property insurance through cutting-edge technology, data-driven insights, and strategic distribution.
That’s where Convr’s Intake AI and Risk 360 AI come into play. Together, the products will eliminate manual submission processing by digitally ingesting, preparing and analyzing underwriting documents as well as streamlining research and enhancing applicant data with the power of AI.
“Our team is passionate about reshaping the insurance landscape and providing tailored solutions for our brokers, and their clients,” said Charles Smith, Head of Innovation and Strategy at Lucid Insurance Group. “We’re approaching underwriting through a different lens and our partnership with Convr is the first step in delivering a better insurance experience and reducing redundancies in the process.”
For added efficiency, Convr will also be integrating into Lucid’s Policy Administration System (PAS). This is further evidence of Lucid’s passion for automation and Convr’s ability to seamlessly integrate into an existing ecosystem.
“Convr aligns with Lucid’s mission to realize efficiency,” said John Stammen, Chief Executive Officer at Convr. “Together, we’re going to continue to transform commercial insurance with frictionless underwriting.”
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.