Digital Risk Processing

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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.

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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.

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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.

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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.”

Adrian Saunders

Commercial Director

More customer stories

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

Quality control layer

Cytora enables insurers to achieve the highest level of data accuracy through a quality control layer for validation and exception management across the end to end workflow.

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Field inference

Cytora supports out-of-the-box inference that is configurable by line of business and geography to enable scalability across global operating models.

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Risk Interpretation

Cytora automatically auto-matches heterogeneous field and declaration variations to standardised pre-approved fields based on similarity to unlock streamlined risk decisioning.

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Performance optimization

Cytora combines multiple models enabling insurers to maximize process automation and provides control through integrated training, quality control and operational workflows.

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Security

The Cytora platform has built in enterprise-grade security with regularly external security audits to ensure the highest security and compliance.

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Pricing integration

Cytora integrates rating engines into risk processing workflows so underwriters receive quote-ready risks that arrive with comprehensive rating information required for decisioning.

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Persona-driven console

Persona-Based Console enables multiple people from administrative assistants, to underwriters, to underwriting managers through to underwriting leadership to effectively and efficiently make decisions on risk.

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Out-of-the-box schemas

Cytora provides pretrained out-of-the-box schemas across Commercial P&C and Specialty lines of business, enabling accelerated deployments that scale across multiple countries

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Data ecosystem

Cytora enables existing data sources to be easily integrated and provides an ecosystem of pre-integrated data providers enabling insurers to accelerate how they operationalize new data sources.

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Live risk flow analytics

Cytora provides out of the box analytics across risk flows enabling observability and continuous optimization of business objectives.

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Configurable platform

The Cytora platform is fully configurable enabling insurers to encode their unique rules and accelerate competitive.

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Data orchestration

Cytora operationalises submission, internal, external data sources into multi-step workflows to enable decision-ready risks to flow to underwriters.

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Partnerships

Data Ecosystem built for commercial and specialty insurance

CreditSafe

Business credit data and risk management solutions.

Press release

Wenalyze

Data analytics for insurance insights and risk evaluation.

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Moody's Analytics

Financial risk insights, data, and solutions

Press release

TensorFlight

Aerial imagery analytics for property and infrastructure risk assessment.

Press release

AddressCloud

Geospatial data for precise risk assessment and management.

Press release

JBA Risk Management

Flood risk modeling and analytics solutions

Press release

CyberCube

Cyber risk analytics for insurance underwriting and risk management.

Press release

Security Scorecard

Cybersecurity ratings data and insights for informed decision-making.

Press release

Kynd

Cyber risk assessment and monitoring for better risk management.

Press release

MotorCheck

Vehicle history data and insights for accurate underwriting.

Press release

Geosite

Property geospatial data for accurate underwriting and risk assessment.

Press release

Aircraft Bluebook

Aircraft valuation and data solutions for insurers.

Press release

Hyperexponential

Data-driven insights and solutions for enhanced risk management.

Press release

ShipsDNA

Maritime data and insights for comprehensive risk assessment.

Press release

Reask

Advanced risk analytics for natural catastrophe and hazard modeling.

Press release

Dow Jones

Risk and compliance insights and data services.

Press release

Jetnet

Aviation market intelligence for accurate risk assessment and valuation.

Press release

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.

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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.”

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.”

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%”

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%”

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.”

Henrik Bjornstad – Markel

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.”

Colm Holmes
CEO Allianz
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