Concierge is the latest major update to the Cytora Platform, representing the next level of digital risk processing.
First, we enabled LLMs to view risk submissions as a human does. Now the Cytora Platform can understand the complete set of objectives of trading partners, just like a human would.
When brokers communicate, they tend to communicate multiple client needs - at a single point of time. Broker communications often contain new business, endorsements, claims, payment invoices and many other files and items for a client. Even when the broker is exclusively focusing on new business, brokers ask for quotes across multiple product lines e.g. fleet, property, liability etc. These requests often arrive into the same intake.
Up to now, the complex of different requests arriving in the same place and often embedded in single interaction has been a barrier to digitization. Each request needs to be manually identified, separated from the broader interaction and routed to different teams responsible for different functions who then begin executing their decisioning workflows.
With Concierge, insurers, brokers, and reinsurers have the control to automatically digitize any request that arrives in their intake - across all transaction types including new business, renewals, announcements and claims. Clients have control to evolve and expand the request types within their Concierge - with no dependencies and zero training required.
For interactions that contain multiple requests, Cytora Concierge identifies each of the brokers’ or trading partners’ needs and matches each one to the correct digitizer, enabling insurers to turn an interaction into multiple decision-ready transactions. This ensures consistency, control and importantly convenience for the trading party, regardless of the content of the interaction.
For example, a single interaction with a broker might ask for a quote for two different types of insurance cover and an endorsement to an existing policy. The Cytora platform will identify two different new business quote requests, one endorsement, and automatically match each request to the correct digitizer and digitize them according to the insurers view of risk.
Concierge enables insurers to receive risk from trading partners with total flexibility, giving them enhanced convenience to trade the way they want, yet improving efficiency in how they execute multi-tiered operating models, specialised by transaction types and product line and any other request type.
Concierge enables wholesale brokers, insurers and reinsurers to direct trading partners to send all submissions - regardless of the transaction type or line of business - to a single inbox and then match them to correct digitizers enabling multi-tiered operating models.
Concierge empowers insurers to create and shape their transaction categories using natural language with complete flexibility. Clients can start with one transaction type or many across all transaction types from new business submissions, to mid-term adjustments, to claims. Once set up, interactions will be classified according to the request type - e.g. new business request, a claim, an endorsement or a renewal. This is combined with further level classification, for example categorizing new business submissions by line of business. Insurers can flex their Concierge to the breadth of the intake they receive.
Concierge is able to classify each distinct objective from the broker’s submission, for example, a request for a property quote, a request for a fleet quote, an endorsement to an existing policy, and then connect each to the correct schema digitizer. The Cytora Platform identifies where more than one classification is appropriate based on the schema configuration and automatically labels them accordingly. For instance, a risk submission containing a new business request for cyber and a renewal for property will be classified as such and digitized as two separate cases.
In cases with multiple requests in the same interaction, Concierge connects the correct files to each request. Only the relevant files for each individual case are associated and subsequently digitized.
Concierge seamlessly integrates with digitizers, automating the routing of files to appropriate digitizers based on their classification. This adds a previously unseen level of automation to risk processing and further delivers on the Cytora Platform 3.0’s agentic AI capabilities. The added layer of sophistication means digitizers can be specifically designed and configured for their intended purpose or throughput, whether that be per transaction type or per line of business.
Progressively digitize your entire intake by adding new transaction types to your Concierge.
Automated routing of requests to the relevant digitizer further reduces the need for human involvement in risk processing and marks another reliable step toward fully automating the processes between risk submission and underwriting.
Enable trading partners to trade flexibly but retain and reinforce efficiency across different workflows to fulfil the full spectrum of client needs
As digitizers no longer need to be designed as universal catch-alls for every type of submission and request, digitizer configuration is streamlined and makes faster time-to-value with reduced configuration input possible.
More streamlined and focused schemas make the human review process less cumbersome. The smaller schema means an easier, simplified human review process and a reduction in HITL resources requirements as human review is more efficient AND less likely to be required on a case-by-case basis.
Cytora Concierge is available now to all new and existing customers, representing another major step forward in both LLM-powered risk digitization. To learn more about Concierge and see our latest features in action, get in touch using the link below.
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