The partnership will improve the accuracy and speed of commercial liability insurance assessment by integrating comprehensive data insights into insurers’ risk processing workflows.
The partnership facilitates the automatic acquisition of a diverse range of data insights crucial for assessing business risks by commercial liability insurers. Through this integration, essential business data points such as revenue, industry classification, employee numbers, Environmental, Social, and Governance (ESG) scores, as well as Know Your Customer (KYC) information from Techsalerator, are seamlessly incorporated into Cytora’s risk processing platform.
This seamless integration empowers insurers to leverage data more effectively across various aspects of their operations, including risk clearance, onboarding, and triage. By digitizing core workflows and unifying risk data, insurers can make better-informed decisions on risk assessment and improve speed to market significantly.
Techsalerator boasts one of the largest data repositories globally, with information spanning over 320 million businesses and 2 billion consumers across 144 countries. With access to these extensive datasets, underwriters utilizing Cytora’s platform can gain a substantially more accurate understanding of a company’s risk profile, thereby enhancing their decision-making process.
This integration comes amidst a period of notable growth for Cytora, including a significant collaboration with Chubb and the introduction of the latest enhancement to its platform. Leveraging Large Language Models (LLMs) alongside Cytora’s proprietary AI technology, this enhancement brings forth a new standard of accuracy and efficiency in risk assessment and underwriting processes.
Juan de Castro, COO at Cytora, said: “Techsalerator holds a wealth of important commercial information that is invaluable to commercial underwriters. By integrating these datasets directly into our platform we can empower insurers to make faster and more accurate decisions. It is yet another example of how businesses from different sectors can come together to create attractive new solutions.
“Cytora is on a mission to provide insurers with a range of best in class AI driven solutions powered by a world leading data ecosystem. Partnerships with dataset leaders like Techsalerator are a crucial part of this journey.”
Max Wahba, CEO at Techsalerator, added: “We are excited to partner with Cytora and make available our data assets on their platform. This will allow insurers to extract all the insights covered across our databases and is part of our constant effort to make our data available across the whole data ecosystem.”
