Cytora integrates rating engines into the risk processing workflows enabling workflows to be optimized by margin profitability, uplifting efficiency by eliminating rekeying and in lower complexity segments unlocking straight through processing. Rating engines automatically receive risk data required to generate technical premium with zero rekeying required. Underwriters receive quote ready risks that arrive with all of the risk data, risk insight and rating information required for decisioning. Underwriters are able to move between Cytora and rating engines receiving a consistent and up-to-date view of the risk without having to rekey information. Insurers can configure multi-tiered operating models unifying small, middle, large commercial segments and enabling adaptive capacity allocation according to risk complexity.
Cytora integrates rating engines into risk processing workflows so underwriters receive quote-ready risks that arrive with comprehensive rating information required for decisioning. Rating engines automatically receive risk data required to generate technical premium with zero rekeying required. Adjustments to rating are automatically updated in Cytora which means underwriters seamlessly move between Cytora console and rating engine with a unified view.
Optimise risk workflows to improve margins
Cytora enables insurers to optimise risk workflows by margin attractiveness. Where available target premium can be compared with technical premium to evaluate risks based on margin profitability, prioritise risks that have higher technical adequacy and set decline rules when risks do not meet profitability thresholds. Console views enable underwriters to zoom into aspects of the risk which have a disproportionate impact on technical premium.
Unlock straight through processing
Cytora enables risks from multiple intake points to be digitized, evaluated and rated automatically so that underwriters receive decision ready risks with pre-calculated technical premium. Insurers can configure different thresholds to determine cohorts eligible for accelerated underwriting or straight through processing. Underwriting by exception processing modes enables insurers to progressively decouple premium growth from expense growth by directing scarce underwriting capacity to aspects of risk where risk is outsized or unusual relative to the norm.
We are investing in digital capabilities to unlock scalable growth, Cytora enable us to streamline key workflows enhancing efficiency and effectiveness and further developing how we use data to drive decision making across the group and accelerating our profitable growth.”
Chief Operating Officer