This alliance aims to provide commercial property insurance underwriters with cutting-edge insights into climate-related risks.
The integration of Pelmorex’s advanced climate and weather predictive modelling into Cytora’s platform will allow insurers to access highly localized and accurate data instantly. This enhanced capability will empower underwriters to make faster, more precise decisions amid the growing challenges posed by climate change.
Pelmorex Corp, one of the world’s largest weather data providers, operates across Europe, North America, Latin America, India, and Australia. Its predictive models will enable insurers to adapt to shifting weather patterns, streamlining processes like risk clearance, onboarding, and triage. This partnership aligns with Cytora’s broader mission to build a comprehensive data ecosystem for the insurance sector, enhancing efficiency from submission to quote.
Juan de Castro, COO at Cytora, emphasised the importance of this collaboration, stating, “Commercial property insurance is becoming increasingly complex due to the rise of extreme weather events driven by climate change. Integrating Pelmorex’s granular and real-time data is a game-changer for risk assessment and decision-making.”
Mark Gibbas, Managing Director of Enterprise Weather Solutions at Pelmorex, echoed this sentiment, noting, “The frequency of high-impact weather events has surged over the past decade. Insurers need accurate, up-to-date climate risk intelligence to strike the right balance in their insurance products. Partnering with Cytora allows us to bring our data to the forefront of the insurance industry.”
This partnership follows a period of rapid expansion for Cytora, which recently launched new platform enhancements powered by Large Language Models (LLMs) and proprietary AI. The company has also forged significant collaborations with industry leaders like Chubb and expanded its partnership with Arch to North America.
As the insurance industry grapples with the challenges of climate change, the Cytora-Pelmorex partnership represents a significant step forward in leveraging data-driven solutions to manage risk more effectively and sustainably.
