Convr
Convr is an AI underwriting workbench for commercial property and casualty insurance, offering Intake AI for automated submission processing and document digitization with 97% accuracy.
Overview
Founded in 2016 by underwriters Harish Neelamana and Kuldeep Malik, Convr develops AI-powered solutions for commercial P&C insurance underwriting. The company raised $15-18.2M from investors including Altos Ventures, NFP Ventures, Palm Drive Capital, and Stage 2 Capital. Convr's platform processes millions of insurance documents annually, serving underwriters with automated submission intake, risk analysis, and straight-through processing capabilities.
Key Features
- Intake AI: Patented intelligent document automation engine that digitally ingests, processes, and analyzes underwriting documents with 97% accuracy
- Multi-Document Processing: Splits, extracts, and digitizes multiple documents into a single view with complete lineage tracking
- Digital Asset Library: Centralized storage for all submission documents including ACORDs, loss histories, SOVs, and unstructured documents
- Data Enrichment: Extracts key data points and augments with third-party data to broaden risk profiles
- Confidence Scoring: Field-level verification with "High" or "Low" confidence scores enabling straight-through processing and human-in-the-loop quality control
- Format Flexibility: Processes structured and unstructured documents in PDF, handwritten, or typed formats from paper, email, or portal sources
Use Cases
Commercial Insurance Submission Processing
Underwriting teams deploy Convr to automate submission intake. Intake AI performs document classification, splits multi-page submissions, and extracts data from ACORDs, loss runs, SOVs, schedules, financial statements, and broker forms. Convr processed over 6 million pages in Q1 2024.
Straight-Through Processing
Insurance carriers like WCF Insurance and Lucid Insurance Group use Convr to achieve automated underwriting workflows. The platform digitizes submissions, surfaces risk insights and business classifications, enabling faster quoting with confidence scores for automated decision-making.
Risk Analysis and Scoring
Underwriters leverage Convr's AI workbench to analyze enriched submission data and generate risk scores. The system combines extracted document data with third-party information, providing nuanced insights for commercial P&C risk assessment and pricing decisions.
Technical Specifications
| Feature | Specification |
|---|---|
| Core Products | Intake AI, AI Underwriting Workbench |
| Document Types | ACORDs, loss runs, SOVs, schedules, financial statements, broker forms, enrollment forms |
| Format Support | Structured, unstructured, PDF, handwritten, typed |
| Accuracy | 97% extraction accuracy |
| Processing Volume | 6M+ pages (Q1 2024) |
| Input Channels | Paper, email, portal |
| Confidence Scoring | Field-level High/Low scores |
| Integration | Excel, API to policy systems, rating engines |
| Workflow | Straight-through processing with HITL quality control |
Resources
Company Information
Headquarters: Schaumburg, Illinois, United States
Founded: 2016
Founders: Harish Neelamana, Kuldeep Malik
Funding: $15-18.2M (Altos Ventures, NFP Ventures, Palm Drive Capital, Stage 2 Capital)
