As the leader in artificial intelligence (AI) for commercial insurance, Convr equips customers with a conversational AI assistant embedded directly into the underwriting workbench.
The Generative AI approach supports underwriting analysis by helping teams dig deeper into submission data and uncover actionable insights. Those insights can then be acted upon immediately — informing changes, updating the submission, creating tasks, or taking other necessary steps — so underwriters can move forward efficiently.
Purpose-built on the Convr Context Engine — comprised of a commercial insurance ontology, knowledge graph, and semantic layer that powers a multi-line schema — this unique foundation enables the Generative AI to deliver high-performing interactions out of the box with minimal model dependencies showing a holistic view of the risk with ease and confidence.
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How Convr AI worksThe Generative AI module lets underwriting teams discuss submissions interactively and complete action steps directly within the submission. The AI-powered assistant reviews both the data in a submission and relevant public data available to Convr. It then creates a summary with key observations for the underwriting team, and complete the remaining steps needed to finalize the submission.
The technology is designed to enhance underwriting efficiency and accuracy as the Generative AI streamlines day-to-day tasks by instantly retrieving submission details, summarizing risk data, and answering underwriting questions in real time.
“This is similar to ChatGPT where we can ask any observations or questions about a submission and the result is an accurate account or summary of the results,” said Harish Neelamana, Co-Founder and President at Convr. “Following a prompt, it can actually take an action and finalize the submission for the underwriter.”
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Whether a customer is reviewing a complex commercial policy or triaging new submissions, the Generative AI module helps underwriters work smarter, not harder all within the Convr AI ecosystem. And conversations with the AI Assistant are memorialized in the underwriting file making it easy for an underwriter to analyze and improve its usage.
This workbench feature marks a pivotal moment in commercial insurance as Convr advances the industry from manual underwriting to technological innovation.
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