Commercial property and casualty insurance company Zurich North America is expanding its partnership with Convr AI to increase underwriting efficiency and better serve customers through Convr’s artificial intelligence underwriting workbench.
Founded in 2016, Convr AI is a company that provides commercial insurance agencies with a modular artificial intelligence (AI) underwriting, data and intelligent document automation workbench.
Building on the two parties’ first collaboration in 2017, Zurich’s underwriting operations will continue to leverage machine learning and computer vision technology and Convr’s Intake AI product to process ACORD forms, loss records and other documents more efficiently and accurately. Through this integration, along with Convr’s data cleansing and enrichment capabilities, Zurich will be able to increase efficiency across multiple business units.
Convr technology enables underwriting teams in North America to focus more on the human side of underwriting. Convr automates routine tasks by automatically extracting submission data from a variety of document types and enriching incomplete or invalid information with trusted data sources. As a result, underwriters have more time to build relationships, make informed decisions, and drive better results for the organization.
“By enabling all modules in the Convr AI underwriting solution, Zurich will be able to provide an even better experience for its customers,” said Convr CEO John Stammen.
Chris Healey, vice president and head of strategic operations at Zurich Mass Casualty, added: “Our recent focus on automotive and leveraging Convr technology has laid the foundation for expanding our extraction, cleansing and enrichment capabilities across other lines of business. This goes well beyond data extraction; as we continue to select and refine trusted data sources to enrich our risk data, our understanding of the true risk profile has improved significantly.
“Convr allows us to do this efficiently and effectively, allowing our underwriting team to deliver truly tailored and accurate products to our clients and brokers.”