Convr AI® Holds the Universe of Commercial Insurance within Submission Ontology
The Convr underwriting workbench is powered by a commercial P&C insurance ontology – a smart framework that centralizes all customers' data, logic, and workflows into one connected system. It securely combines their customer data with enriched submission data and deeper risk insights, all feeding into downstream systems and supporting historical change analysis.
The submission ontology acts as a central, unified framework to connect disparate data, business logic and actions, creating a dynamic, centralized commercial insurance domain-specific schema with JSON output.
"It's not just another tech layer," said
The Convr AI submission ontology has developed over the past decade informed by the data needs of 80% of the written premium in the commercial insurance domain and is readily available out-of-the-box, ensuring immediate integration and deployment without customer development for future-proofed standardization.
Our pre-built ontology supports diverse underwriting requirements across both standard and specialty lines, covering the full workflow from submission through rate, quote, and bind. It was purpose-built for commercial underwriting workflows, integrating essential enrichments directly into the submission through bind process.
"Our approach eliminates the need for Convr customers to incur costs or operational overhead for document analysis and ontology maintenance," said Stammen.
All customers, from brokers to carriers and MGAs, benefit directly from ongoing updates and enhancements to the ontology that Convr implements on their behalf without additional effort. This historical marker for Convr is a win for commercial insurance and is a pivotal moment as we advance the industry from manual underwriting to technological innovation.
About Convr AI®
Convr is an AI underwriting, data, and intelligent document automation workbench that drives world-class customer experiences. It delivers premium growth, insights and efficiency for commercial P&C insurance organizations of all sizes, including many of the top 20 carriers, MGA's, Brokers and Reinsurers. Convr is revolutionizing the industry through data, discovery and decision intelligence. To learn more, visit www.convr.com.
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SOURCE Convr
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