Cytora, a leading digital risk processing platform, has announced a new partnership with dataplor to revolutionise property insurance underwriting.
The collaboration aims to equip property insurance underwriters with access to dataplor’s extensive, real-time location data via Cytora’s platform.
This integration is intended to accelerate underwriters’ decision-making processes by providing them with more precise and timely data, thereby enhancing risk assessments. Dataplor’s database, continually updated in near real-time, is designed to support insurers as they navigate the increasingly complex landscape of property insurance.
Cytora’s platform facilitates risk processing for insurers, enabling them to streamline tasks such as risk clearance, onboarding, and triage.
This integration with dataplor’s data is expected to further optimise insurers’ multi-step workflows, from submission to quoting. Cytora has been expanding its capabilities in recent years, including a partnership with Chubb, the North American expansion of its collaboration with Arch, and the incorporation of Large Language Models (LLMs) into its platform.
The latter enhancement leverages artificial intelligence to improve risk assessment, underwriting, and claim management efficiency.
This partnership with dataplor marks Cytora’s latest step in its goal of creating a comprehensive data ecosystem for the insurance industry.
By integrating dataplor’s data, Cytora seeks to empower underwriters with actionable insights and enhance decision-making across various insurance business lines.
Juan de Castro, COO at Cytora, expressed enthusiasm for the partnership, stating, “Dataplor has created one of the largest resources of location based data in the world. Integrating it into Cytora’s platform enables underwriters to leverage this powerful resource to enhance their risk assessments. Crucially, dataplor’s intelligence is updated in near-real time which is incredibly important for property underwriters seeking to make more accurate decisions.”
Geoff Michener, CEO of dataplor, echoed this sentiment, saying, “We’re thrilled to partner with Cytora to empower the insurance industry with actionable location intelligence. By combining dataplor’s comprehensive, real-time data with Cytora’s advanced platform, we’re enabling insurers to make more informed, data-driven decisions and ultimately improve their risk assessment processes.”
Source article: https://fintech.global/2024/11/07/cytora-and-dataplor-to-revolutionise-property-insurance-underwriting/