London, UK, 7 December 2023: Cytora, the leading digital risk processing platform, and flood and climate risk data experts Fathom, are proud to announce that Fathom’s advanced models are now being used to seamlessly enhance the underwriting process within Cytora’s digital risk processing platform, providing commercial insurance underwriters with deeper insights into property risks associated with flooding and climate change.
Integration of data sources like Fathom directly into risk processing workflows enables insurers to digitise their core workflows, make better-informed decisions on risk and improve speed to market; enhancing broker and client experience. Cytora’s platform enables insurers to operationalise data more broadly across their lines of business, (including for risk clearance, onboarding and triage) and more effectively through their multi-step workflows from submission to quote.
Fathom’s hazard data will be available to access via its API, a cloud-based solution to data provision that enables access to flood risk intelligence for any desired point or area of interest within seconds.
Juan de Castro, COO at Cytora, said: “At Cytora, we are committed to transforming the insurance industry by harnessing data and analytics. Our partnership with Fathom shows how we are making a wide array of data available to our customers. The integration of their advanced flood and climate risk models into our platform equips insurers with the latest tools to address complex risks. We believe that together, we can revolutionise underwriting and improve the resilience of businesses and communities.”
Dr Andrew Smith, COO at Fathom, added: “Built on years of academically validated research, our global scale, high-resolution data offers the insurance industry the information they need to make informed decisions about flood risk, at pace and with confidence. Providing this via the Fathom API on Cytora’s platform means even more individuals and organisations are able to access comprehensive flood maps rapidly, without the need to host terabytes of data on-site.”
