Foresight Gains Strategic Advantage Through Convr's Underwriting AI Platform
New workers compensation MGA positioned for success using Convr's underwriting decision automation platform.
CHICAGO (July 21, 2020) - Convr, formerly known as DataCubes, today announced that Foresight, a new workers compensation MGA, will be powered by Convr’s underwriting decision automation platform to provide strategic advantage through exceptional underwriting quality, speed and efficiency.
“Convr stood out as the superior partner to power our proactive approach to workers compensation insurance,” said Emilio Figueroa, Chief Insurance Officer at Foresight. “By partnering with Convr, we are empowered to run a well-informed, AI-driven underwriting process that is optimized with the latest technology from Day One.”
“Foresight has a tremendous advantage in being a new MGA with a market niche already defined, they are now able to start their business using underwriting best practices built into the Convr platform from across the industry,” said Bruce Simpson, CEO at Convr.
Convr’s platform supports all core commercial lines of business and classes. All parts of the platform are available via white-labeled portal and/or API. The platform is segmented into four products:
- d3 Intake™ reads and digitizes submission paperwork, such as ACORD applications and loss runs, to reduce manual data entry
- d3 Risk 360™ provides additional insights on risks from thousands of third party data sources
- d3 Answers™ uses AI to respond to underwriting questions, saving significant underwriter time while improving consistency and accuracy
- d3 Risk Score™ enables risk selection and prioritization to better focus downstream underwriting resources
Headquartered in Schaumburg, Illinois, Convr is a leading underwriting decisioning platform for commercial P&C insurers. The company has revolutionized the commercial underwriting process with cutting-edge AI and decision science. Commercial carriers of all sizes use Convr to make real-time underwriting decisions based on rich data and intelligence gathered by external sources to improve productivity, profitability, efficiency and accuracy. To learn more, visit www.convr.com. Follow Convr on Twitter and LinkedIn.
Foresight insures hard-to-place clients with the first technology-based workers' compensation program. Foresight commercial insurance plans contribute to improved safety and lowered rates through increased safety engagement. Using instant pricing indications, a digital submission process, and easy claims management and reporting, Foresight provides unrivaled value for brokers and their hard to place clients. Learn more at getforesight.com and follow Foresight on LinkedIn.