Digital Risk Processing
Digital risk processing
Configurable cloud based platform
The Cytora Digital Risk Processing Platform enables commercial insurers to digitise all interactions with brokers, enabling optimised risk workflows and control over the target portfolio. Cytora brings together the data, processes and people enabling insurers to create multi-step risk flows that maximise efficiency and differentiate how risks are processed according to risk appetite, portfolio and automation objectives. From small commercial, to middle market to large commercial, Cytora supports different operating models and levels of risk complexity.
Uplift GWP, improve control
Decouple premium growth from expense growth
Risk digitization
Cytora digitizes core workflows by operationalising submission data, internal and external data sources and inferred data into streamlined multi-step workflows. Cytora standardizes heterogeneous data fields and has a flexible data integration layer with built in entity resolution making it easy to integrate data sources, enabling granular context and control across the journey. Cytora enables insurers to achieve the highest levels of accuracy through a quality control layer for validation and exception management.
Workflow optimisation
Cytora enables insurers to optimise risk workflows by encoding business rules which enable risks to be evaluated against risk appetite, portfolio strategy and other configurable rules. The Cytora platform matches risks to multiple segments enabling risks to be processed differently including matching to in-force customers, filtering by appetite, ranking by priority, highlighting areas of outsized risk and enabling straight-through processing based on complexity thresholds.
Portfolio enhancement
Cytora provides visibility over workflows and control over portfolio shape enabling insurers to enhance their portfolio, identifying changes in market dynamics and levels of risk and dynamically adjusting the attractiveness of different risk segments. Cytora’s live insights are operationalised into risk workflows providing senior management control over the target portfolio and enabling consistent optimization of business objectives.
What our customers say
“
Cytora will enable us to grow our scale across our specialist markets, embed and reinforce a data-driven culture and empower our underwriters to provide better service to customers and brokers.”
Commercial Director
Digital risk flows
Example Flows
Clearance
Streamlined clearance flows enable detection of duplicate submissions, match brokers to broker licenses and connect new submissions to current in-force customers.
Appetite filtering
Risks are automatically filtered based on the insurer’s unique risk appetite, enabling underwriters to focus their time on risks within appetite.
Auto-declines
Out of appetite risks flow into streamlined auto-decline queues, creating capacity for underwriters and enabling better service to brokers.
Risk prioritisation
Risks are automatically evaluated against priority rules using multiple fields from broker submission, internal, external and inferred data sources, enabling underwriters to focus on the most attractive risks.
Risk triage
Risks are triaged based on the insurer’s operating model, matching risk complexity to different processing modes that enable underwriting capacity to be scaled across higher volumes of risk.
Decision ready risks
Cytora enables underwriters to receive decision-ready risks with streamlined quotation workflows, accelerating decision-consistency, efficiency and turnaround time.
Straight-through processing
Straight through processing flows enable low complexity risks to receive accelerated review and be automatically quoted without consuming underwriting capacity.
Downstream system routing
Risks are routed to the right downstream systems including policy administration, CRM, pricing engines and other downstream systems, eliminating rekeying across the workflow.
Unique advantages
How we are different
Partnerships
Data Ecosystem built for commercial and specialty insurance
CreditSafe
Business credit data and risk management solutions.
Wenalyze
Data analytics for insurance insights and risk evaluation.
Moody's Analytics
Financial risk insights, data, and solutions
TensorFlight
Aerial imagery analytics for property and infrastructure risk assessment.
AddressCloud
Geospatial data for precise risk assessment and management.
JBA Risk Management
Flood risk modeling and analytics solutions
CyberCube
Cyber risk analytics for insurance underwriting and risk management.
Security Scorecard
Cybersecurity ratings data and insights for informed decision-making.
Kynd
Cyber risk assessment and monitoring for better risk management.
MotorCheck
Vehicle history data and insights for accurate underwriting.
Geosite
Property geospatial data for accurate underwriting and risk assessment.
Aircraft Bluebook
Aircraft valuation and data solutions for insurers.
Hyperexponential
Data-driven insights and solutions for enhanced risk management.
ShipsDNA
Maritime data and insights for comprehensive risk assessment.
Reask
Advanced risk analytics for natural catastrophe and hazard modeling.
Dow Jones
Risk and compliance insights and data services.
Jetnet
Aviation market intelligence for accurate risk assessment and valuation.
Delivery track record
Global deployments across the market
Global insurers focusing on small, medium and large commercial risk segments partner with Cytora to accelerate their transition from manual workflows to digital risk flows, across all lines of business.
Colm Holmes – Allianz
“
Previously it could have taken two, three, four plus weeks to underwrite a more complex risk, using Cytora what we can now do is source that data, analyse that data so much quicker, we can now underwrite most of those risks in three hours, that’s a dramatic change.”
“
Previously it could have taken two, three, four plus weeks to underwrite a more complex risk, using Cytora what we can now do is source that data, analyse that data so much quicker, we can now underwrite most of those risks in three hours, that’s a dramatic change.”
Henrik Bjornstad – Markel
“
We now have 38% less people involved in the processing part of it, so they can spend more time on other things, more value adding tasks. So with 38% less people we are handling 38 per cent more cases and in cases per underwriters, that’s an increase of 100%”
“
We now have 38% less people involved in the processing part of it, so they can spend more time on other things, more value adding tasks. So with 38% less people we are handling 38 per cent more cases and in cases per underwriters, that’s an increase of 100%”
Arvind Drubhra – HDI
“
The proof of concept with Cytora was very successful. It demonstrated that they could extract all the information out of these files, load them into our systems, apply validation rules, routing, really removing that manual process that underwriters are having to do today.”
“
The proof of concept with Cytora was very successful. It demonstrated that they could extract all the information out of these files, load them into our systems, apply validation rules, routing, really removing that manual process that underwriters are having to do today.”
Results
Why industry leaders choose Cytora
+ 38% GWP uplift / FTE
3 days to within 24 hours quote preparation
First contact times — halved
“
It allows you to dramatically increase the amount of underwriting you can do for a single individual and it speeds up the delivery of that broker which reduces their cost.”
