Convr AI® Awarded Fourth Patent

United States Patent Number 11,734,579 relates to technology underlying Convr’s Risk 360 AI data lake. The solution provides commercial property and casualty (P&C) insurance underwriting teams with a unified view of a business’s digital footprint, including history, DBA, credentials, licenses, filings, and more, allowing for efficient and informed risk assessments.

The Convr Underwriting Command Center platform paired with the Risk 360 AI technology utilizes ML to read and extract structured data from non-standardized documents. That data is then graphically presented to the underwriter via an intuitive and card-based view, allowing for more detailed drilldowns as needed. The design provides underwriters with greater ease and clarity in understanding a risk.

“Convr continues to lead innovation in the AI commercial underwriting space, and this additional patent recognizes our efforts in improving commercial P&C underwriting by using machine learning and related technologies,” said Harish Neelamana, Co-founder and President of Convr. “Our engineers and data scientists are constantly innovating solutions that optimize our customers’ risk assessment processes for new business submissions and renewals, leading to a more efficient underwriting experience and superior customer outcomes.”

“We’re delighted to receive another patent that validates our innovative approach to commercial underwriting,” said John Stammen, CEO of Convr. “With ever-increasing demands on underwriters to assess risks more quickly, our advanced technology has become a critical tool to improve efficiencies across the entirety of the underwriting process.”

Convr’s solution supports all core commercial lines of business and classes. The platform is available via a highly-intuitive underwriting command center, as well as through system-to-system API connectors.