Convr
Convr provides AI-driven solutions for commercial P&C insurance carriers, offering tools for underwriting, document automation, and risk evaluation.
Company Overview
Convr, founded in 2016, specializes in providing solutions for commercial property and casualty (P&C) insurance carriers, reinsurers, managing general agents/underwriters, and producers. The company offers an AI-driven platform designed to digitize and fuse submissions with the best sources of data, providing insights into underwriting, business classification, and risk scores.
AI-Driven Tools and Patents
Convr's platform includes several AI-driven tools such as Intake AI™, Risk 360 AI™, Answers AI™, and Risk Score AI™. The Intake AI™ platform holds US Patents No. 11,049,042 and No. 11,580,459, while the Risk 360 AI™ platform holds US Patents No. 11,270,213 and No. 11,734,579. These tools contribute to efficient submission intake, business classification identification, data enrichment, and risk quality evaluation.
Awards and Recognitions
Convr has been recognized in various industry-related awards and reports. The company has been named a Market Strength Leader in Underwriting Data Platform—P&C Insurance by CB Insights and featured by Built In Chicago as one of '13 Chicago Tech Companies Redefining the Insurance Industry' and one of '22 Chicago Startups to Watch in 2022'. Additionally, Convr received the 'Most Promising Insurance Tech Solutions Provider 2022' award from CIOReview.
Platform Capabilities
Convr's platform supports a variety of functions, including submission automation, submission enrichment and scoring triage, underwriting workflow, underwriting workbench, and historical loss data analysis. It also facilitates pre-quote/post-bind analysis, book roll/book enrichment, and renewal material change analysis. The platform integrates with existing systems or can be used as a standalone tool, offering quick time-to-value with extensive out-of-the-box features.
Technological Infrastructure
Built on AWS Cloud, Kubernetes, and microservices, Convr's platform ensures scalability, security, and reliability. The company's data lake includes 755 million entities, aiding expedited renewal processing by identifying material changes in business data. This technological foundation supports the platform's ability to scale rapidly with business growth while maintaining high performance.
