AM Best TV interviewed Convr CEO John Stammen at National Association of Mutual Insurance Companies (NAMIC) in September 2024. He shared insights on the value of AI underwriting and operations and how Convr AI can streamline submission to quote by reducing data entry, research and aggregation tasks to provide a better customer experience. Take a listen and hear how agents and others are winning new business with Convr AI.
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Convr is an AI underwriting platform that digitizes and fuses submissions with best sources of data to surface underwriting insights, business classification and risk scores. Our machine learning platform - based on data science is making underwriting easier and more accurate - increasing decision-making confidence and improving the user experience. From submission to quote, Convr is helping insurance organizations reduce uncertainty and friction in the underwriting process.
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Underwriting teams are often challenged when trying to match a submission with the correct company information. The Convr data lake and d3 Risk 360 can help sort and prioritize the vast amount of information that leads to important insights and better decisions. Ours is not just a data lake, it's a data decisioning engine.
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Businesses are misclassified up to 69% of the time according to the Consumer Federation of America estimates. And misclassification can lead to inaccurate pricing. But with AI-driven insights, Convr helps deliver more granular and accurate business classification.
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Now you can answer underwriting questions using artificial intelligence - eliminating the need for a prefill screen. The same logic applies for premium audits and renewals. Convr's d3 Answers cuts to the chase of what matters - AI for decision automation. That's the real transformation happening right now. It's the power of Convr.
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Commercial property and casualty underwriters are experiencing frictionless underwriting with Convr's AI platform. In our latest video, Convr co-founder and president Harish Neelamana guides viewers through a case study outlining the unique challenges insurance underwriters face and the ways Convr is solving for them.
From manual effort to gather underwriting information, to time-consuming searches from multiple external sources - Convr cuts through the clutter and dips into our data lake, retrieving data from thousands of sources and millions of websites. AI is the answer.
The data comes back in real-time, giving underwriters a very strong ontology built around underwriting intuition. The process takes seconds versus hours, allowing underwriters to better spend their time on the actual art of underwriting analysis and pricing.
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