CoSupport AI
What is Convr?
Convr provides a modular artificial intelligence (AI) underwriting, data analysis, and intelligent document processing workbench specifically designed for the commercial property and casualty (P&C) insurance sector. It leverages AI combined with human-in-the-loop processes to enhance and accelerate commercial insurance operations. The platform aims to deliver superior data, insightful underwriting analysis, accurate business classification, and reliable risk scoring.
This technology partner assists insurance organizations in transforming their underwriting functions through its AI-driven digital analysis workbench. Convr integrates data, discovery, and decision intelligence via its patented machine-learning algorithm engine. The system is built to address key challenges in commercial insurance, focusing on improving profitability, increasing operational efficiency, ensuring pricing adequacy, reducing loss avoidance, and speeding up the quote generation process, thereby refining the overall underwriting experience.
Features
- Efficient Submission Intake: Automates and streamlines the process of receiving insurance submissions.
- Identify Correct Business Classification: Accurately categorizes businesses using AI analysis.
- Data Enrichment: Augments submission information with external data sources for comprehensive risk assessment.
- Identify Submission Q&A: Automatically extracts key questions and answers from submission documents.
- Pre-fill Efficiency: Reduces manual data entry by auto-populating application fields.
- Evaluate Risk Quality & Score: Assesses submission risk levels and provides quantitative scores.
- Customized Models: Offers tailored AI models to meet specific underwriting requirements.
- AI Underwriting Workbench: Centralizes data, discovery, and decision intelligence tools.
- Intake AI™: Dedicated module for optimizing submission intake.
- Risk 360 AI™: Module offering comprehensive risk analysis.
- Answers AI™: Feature focused on extracting questions and answers from documents.
- Scores™: Provides standardized risk scoring capabilities.
Use Cases
- Improving underwriting productivity for commercial P&C carriers.
- Enhancing risk selection and pricing accuracy for insurers.
- Streamlining submission intake and prioritization processes.
- Accelerating the time-to-quote for insurance producers and MGAs.
- Reducing manual data entry and validation tasks for underwriters.
- Assessing and scoring complex risks for reinsurers.
- Improving the customer experience through faster insurance application processing.
- Leveraging data science for deeper underwriting insights.
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