Convr: Digitization and Deep Insights are the Formula for End-to-End Underwriting Excellence
John Stammen, CEOHow can an industry riddled with age-old systems and processes keep up with today’s accelerated change and meet the demands of its modern customers? Convr is answer.
Convr is being recognized as one of the most promising tech solution providers for 2022 because they are transforming underwriting experiences for commercial P&C insurers through modern, AI-driven digital underwriting operations. The company empowers carriers to improve decision-making and helps its customers digitally transform their legacy processes.
Convr serves commercial carriers, reinsurers, producers and MGA’s, to enable superior performance with optimal efficiency and world-class customer experiences. Leveraging Convr’s platform, clients can digitize, enhance, and expedite their underwriting processes in six to eight weeks. Its user interface (UI) is built for commercial business with APIs that dip into a vast data lake, retrieving information from thousands of sources and millions of websites.
“We orchestrate a better experience, whether it is increasing efficiency by over 130 percent for an underwriter or achieving more than 90 percent in the machine reading accuracy of documents or applications,” said John Stammen, CEO of Convr.
Customers use Convr to gain productivity in their underwriting operations, achieve transparency throughout the submission process (including loss run reports), and maintain consistency across workflows.
Commercial insurance teams are burdened with chasing Google searches to cobble together risk insights or manually re-keying data from documents into internal systems. Using Convr’s Command Center, underwriters have instantaneous surfaced insights from over four billion data points sourced from different websites to gain granular risk insights from a business’s digital footprint.
The Convr Command Center is built with microservices, delivering superior performance on a relatively small infrastructure footprint. By unifying and digitizing underwriting management through Convr, insurers free up significant underwriting time so producers and underwriters can focus on creating a greater business impact. In the same vein, the Convr Command Center helps reduce underwriting cycle time with its d3 Intake, d3 Risk 360, d3 Answers, and d3 Risk Score capabilities.
Insurance organizations of all sizes, including many tier-one carriers, trust Convr to transform their underwriting experience with straight-through processing (STP) and more complete data to make better decisions. For instance, an organization seeking to streamline operations using STP methods reached out to Convr to digitize, automate, append, and prepare submission documents. Whether they focus on small commercial accounts, midsized businesses or large accounts, insurance organizations see immediate value.
Across all its engagements and collaborations, Convr delivers a frictionless experience, optimal efficiency and worldclass customer engagement from submission to quote. Driven by the human value of their work, Convr demonstrates its commitment to making the work of underwriters a more positive experience with every engagement.
Looking ahead, Convr will continue to deliver data, discovery, and decisioning intelligence through its patented machine-learning algorithm engine, reducing application questions by over 70 percent and increasing underwriting productivity by up to 10 times.
Insurance organizations of all sizes, including many tier-one carriers, trust Convr to transform their underwriting experience with straight-through processing (STP) and more complete data to make better decisions. For instance, an organization seeking to streamline operations using STP methods reached out to Convr to digitize, automate, append, and prepare submission documents. Whether they focus on small commercial accounts, midsized businesses or large accounts, insurance organizations see immediate value.
We orchestrate a better commercial insurance experience, whether it’s increasing efficiency by over 130 percent for an underwriter or achieving more than 90 percent in the machine reading accuracy of documents or applications
Across all its engagements and collaborations, Convr delivers a frictionless experience, optimal efficiency and worldclass customer engagement from submission to quote. Driven by the human value of their work, Convr demonstrates its commitment to making the work of underwriters a more positive experience with every engagement.
Looking ahead, Convr will continue to deliver data, discovery, and decisioning intelligence through its patented machine-learning algorithm engine, reducing application questions by over 70 percent and increasing underwriting productivity by up to 10 times.
Company
Convr
Headquarters
Schaumburg, IL
Management
John Stammen, CEO
Description
Convr empowers commercial P&C carriers and producers with modern end-to-end underwriting management powered with a patented-AI decisioning engine that transforms the underwriting experience. Insurance organizations of all sizes trust Convr to help them transform their business with straight through processing (STP) and more complete data to make better decisions.
