According to reports, the integration means CAPE Analytics’ commercial property data APIs will be accessible on the Cytora platform. This will improve insurers’ abilities to decipher and handle risks connected with commercial properties.
The integration will enable insurers to access advanced analytics and machine learning to create frictionless underwriting processes, boost risk management, and make data-driven decisions for commercial property risks.
One of the biggest advantages of the partnership are the data APIs that provide broad insights into several different property characteristics. These include, executives say, historical data, loss-predictive building characteristics, and roof condition.
The addition of CAPE Analytics’ APIs on the Cytora platform also provides insurers with access to complex property information, thus enabling them to make better informed underwriting decisions and maximise risk management.
Speaking about the new partnership, Juan de Castro, COO of Cytora, said: “Cytora’s commitment to innovation aligns perfectly with our integration with CAPE Analytics. By integrating CAPE Analytics’ commercial property data APIs into our platform, we’re equipping insurers with the tools they need to make more informed decisions about commercial property risks. This collaboration strengthens our ongoing efforts to provide insurers with the most advanced solutions, ultimately enhancing their ability to manage risks effectively.”
Busy Cummings, Chief Revenue Officer at CAPE Analytics, commented: “We’re excited to see Cytora continue to push the envelope of innovation in the commercial property insurance space and look forward to supporting carriers through this direct integration.
He added: “Decisions involving commercial property risk are often complex, making modernization and automation a challenge. Together, Cytora and CAPE are providing both the platform and the insights required to modernise commercial property carrier workflows and drive the industry forward.”
