Convr AI® Partners with Coherent to Accelerate Underwriting
CHICAGO (July 31, 2024) – Convr AI®, the leading artificial intelligence (AI) company serving commercial insurance organizations is taking its underwriting workbench to the next level through a partnership with Coherent.
Coherent’s platform Spark helps accelerate business initiatives and improve speed to quote, increasing efficiency and driving growth in some of the most complex and volatile industries including some of the top insurers in the world.
“We’re very excited about this partnership with Coherent and to offer our customers the ability to rapidly introduce new insurance products with a frictionless submission to quote process. Together, using Convr’s underwriting capabilities and Coherent Spark’s ability to quickly turn Excel raters and models into APIs, customers can dramatically accelerate their production, ” said John Stammen, Chief Executive Officer at Convr.
“Coherent is thrilled to partner with Convr to enable insurers to dramatically reduce the time and it takes to go from submission to quote. This collaboration creates a next generation workbench that will alleviate the challenges typically seen in the underwriting process. “ Said John Brisco, Chief Executive Officer and Co-founder at Coherent.
Through this partnership, Convr and Coherent are eliminating one more manual step in the commercial insurance underwriting process – in this case, the laborious process of entering data into Excel raters. With Convr’s submission automation and data enrichment and Coherent’s instantaneous rating, the partnership removes inefficiencies and largely eliminates manual entry errors expediting the underwriting process.
“Coherent and Convr’s partnership deliver a truly end-to-end commercial underwriting workbench that includes, digitization, the best data, quote efficiency and historical snapshots without any manual effort. This partnership delivers customers a quantum leap in speed to quote,” said Stammen. “With this Convr continues to grow our partner universe to bring the best value to our customers.”
About Convr AI®
Convr is an AI underwriting, data and intelligent document processing 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 10 carriers, MGA's, brokers and reinsurers. To learn more, visit www.convr.com.
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About Coherent
Coherent is a global software-as-a-service (SaaS) company that helps over 100 of the leading financial services firms, including top insurers, to transform their business modelling and logic management. Trillions of dollars in IP value is trapped in legacy and desktop applications, like Excel, and companies spend billions trying to pull this into systems as they modernize and transform. Coherent Spark unlocks this business logic to create next generation, modern services. Spark adds controls, provides intelligent insights, and accelerates connectivity for this valuable IP to other applications, to workflows, to audit readiness. Spark leverages the scalability and security of the cloud. Use Spark to instantly create requirements, simulate, test, rate, price, and launch products faster. For more information, visit: https://www.coherent.global/
