Zurich North America, the commercial property and casualty insurer, is expanding its relationship with Convr AI to improve underwriting efficiency and better serve its customers through Convr’s AI-powered underwriting workbench.
Founded in 2016, Convr AI is a modularised artificial intelligence (AI) underwriting, data, and intelligent document automation workbench company serving commercial insurance organisations.
Building on the companies’ first collaboration in 2017, Zurich’s underwriting operations will continue leveraging machine learning and computer vision technology with Convr’s Intake AI product to more efficiently and accurately process ACORD forms, loss runs, and other documents. Through this integration and Convr’s data cleansing and enrichment capabilities, it will enable Zurich to improve efficiency across multiple business units.
Convr technology empowers underwriting teams across North America to focus more on the human side of underwriting. By automatically extracting submission data from various document types and enriching incomplete or invalid information with trusted data sources, Convr automates routine tasks. As a result, underwriters have more time to build relationships, make informed decisions, and drive better outcomes for their organisations.
John Stammen, Chief Executive Officer of Convr, said, “By enabling all modules within the Convr AI Underwriting solution, Zurich will be able to deliver an even greater experience to their customers.”
Chris Healey, Vice President, Strategic Operations Leader for Zurich Large Casualty, added, “Our recent focus on the automobile line of business and leveraging Convr technology, has laid the foundation for us to expand extraction, cleansing, and enrichment capabilities for additional lines of business. This goes far beyond data extraction; as we continue to select and refine trusted data sources to enrich our exposure data, our understanding of the true risk profile is greatly improved.
“Convr enables us to do this efficiently and effectively, enabling our underwriting teams to provide a truly tailored accurate offering to our clients and brokers.”
