Reduce administrative overhead and lead times. Optimize underwriting processes to expedite submission turnaround and improve agent satisfaction.
How It Works
Ready for a tour of our products? The journey to optimizing the underwriting process starts with d3 Intake™. d3 Intake receives submission documents, such as applications and loss runs, from the agent and processes those submission documents using Intelligent Document Processing (IDP) without manual rekey/review. These documents are then converted into structured data ready to be reviewed in Convr's Digital Document Asset Library (DDAL) by the underwriter.
The next step in our journey is d3 Risk 360™. Once the underwriter finishes analyzing the submission documents, they are ready to search the business they are underwriting. This step of the process can take a long time to complete, but the good news is they do not have to spend hours or days searching the web. With d3 Risk 360, the underwriter can discover business insights from third-party data sources, such as government entities, public records, and company websites across all 50 states in a matter of minutes.
Now that underwriters can easily access all available public information about a business, wouldn’t it be great if they could also have answers to their underwriting questions without having to spend valuable time searching for those answers? This is where d3 Answers™ comes in handy. With d3 Answers, the underwriter can address questions directly through AI-trained models that answer underwriting questions.
As we come near the end of the new business underwriting journey, we can’t help but ask, how do we know where this submission should be prioritized? This would make far better use of the underwriter’s time. That is why we have d3 Risk Score™. With d3 Risk Score, the underwriter can optimize the selection and prioritization of risk for evaluation and ensure that a quoted business is within the risk appetite. Once underwriting is completed, the risk is ready to be rated before going back to the agent as a quote.
All Convr solutions are hosted in the cloud on Amazon Web Services (AWS). AWS is by far the leading cloud solutions provider, with five times more deployed infrastructure than the next 14 competitors combined. This gives Convr the flexibility and scalability to meet customer needs, and enable Convr to partition company-specific data in private servers.
Built on Microservices
Microservices enable fast iterations while maintaining a robust solution. Because they are independent and loosely coupled, they enable rapid iteration while also delivering superior performance on a relatively small infrastructure footprint.
Available Through a Variety of Delivery Mechanisms
Convr solutions can be consumed through API, a white-labeled portal, and email interfaces. The architecture was designed with this flexibility in mind in order to more easily integrate into existing carrier systems and processes.
The solution from Convr will help reduce time-consuming manual processes, enhance risk selection and significantly improve productivity.”
Connecting data and insurance expertise through technology makes all the difference in the underwriting process. Our growing partnership with Convr is enabling us to automate the intake of submission documents, develop a structured set of data points for seamless integration with rating and an experience that our underwriters, brokers and customers will enjoy.”
Stephan Braig, Head of R&D, Co-founder, Joyn Insurance
Partnering with Convr provides a competitive advantage to our organization, as it will enable us to improve the speed and quality of our underwriting decision-making based on the digital footprint of the businesses we serve.”
After a thorough review of all options on the market, Convr was the clear choice for us based on the exceptional performance of their platform and strong culture of partnership. Together, we look forward to transforming the way insurance – specifically workers' compensation – is delivered to our customers.”
Abel Travis, Vice President, Fundamental Underwriters, AF Group
Convr stood out as the superior partner to power our proactive approach to workers compensation insurance. 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.”
Convr will enable our underwriting team to quickly identify underwriting risk characteristics and to systematically collate relevant underwriting data from various sources to improve business agility and the decision-making process.”
Randy Mancini, Vice President of Commercial Lines, Penn National Insurance
A big part of our relentless pursuit to be the best program partner in the industry is leveraging technology to provide next-level service. Convr has been essential in powering our business with the accurate processing and presentation of data so our underwriters can focus on the human elements of analyzing risk and interacting with our distribution channel.”
Convr is a key part of helping us achieve our mission: to set the standard others strive for in all aspects of our business. We look forward to implementing this innovative technology that will enable us to continue to advance the level of service we provide to our customers.”
Lance LaGere, President and COO, National American Insurance Company (NAICO)
Our partnership with Convr helps us further our commitment to providing world-class service to our agents and insureds. Documents that previously took days or weeks to process are now being digitized and completed in a matter of minutes. Our submission process and underwriting efficiencies have greatly improved.”
Case Study: Penn National Insurance Partners with Convr to Accelerate Digital Transformation in Underwriting
Customer satisfaction among small business insurance customers has dropped by 15 points during the past two years according to a recent survey from J. D. Power. The commercial P&C industry has always placed great emphasis...