Using Convr Insider, commercial insurers can access insights on recent trends impacting a business, including COVID-19, supporting better underwriting decisions
Chicago, IL /PRNewswire/ - Convr, a leading underwriting decisioning platform, today announced it is providing commercial property and casualty insurance carriers with complimentary access to Convr Insider, an underwriting insights tool which includes a COVID-19 management dashboard.
This innovative tool allows insurers to view local COVID-19 insights all in one place. The information provided includes the number of cases and deaths reported at a business, screening procedures in place upon entry, visitor restrictions and how well stay at home regulations are being adhered to in the local area. There is also a score to predict how likely a business is to have an outbreak in the near future. This information will help underwriters better understand the changing nature of risks and make more informed decisions at new business, endorsement and renewal.
"One of the primary challenges insurance carriers have faced since the start of the pandemic is keeping up with the drastic change in risk exposures among policyholders. Businesses have had to shift away from traditional business models and are adopting new ways of operating, which leaves insurers to identify and manage a myriad of more complicated risks," said Bruce Simpson, CEO, Convr. "As a company that has been harnessing the power of AI and third-party data since its inception, Convr Insider is our way of using our insights for the benefit of the entire commercial insurance industry."
"We felt strongly that now is the time to do something bold to help the entire industry adjust to the current economic environment. We have big plans for Convr Insider and encourage all US commercial P&C carriers to explore how this complimentary tool can help advance their businesses," said Harish Neelamana, co-founder and president, Convr.
Convr Insider is built on a platform containing 4 billion data points and connected to thousands of data sources. Learn more about Convr Insider.
Headquartered in Schaumburg, Illinois, Convr is a leading underwriting decisioning platform for commercial P&C insurers. The company has revolutionized the commercial underwriting process with cutting-edge AI and decision science. Commercial carriers of all sizes use Convr to make real-time underwriting decisions based on rich data and intelligence gathered by external sources to improve productivity, profitability, efficiency and accuracy. To learn more, visit www.convr.com. Follow Convr on Twitter and LinkedIn.