Cytora has launched version 3.0 of its digital risk processing platform, featuring enhanced capabilities powered by agentic AI.
The new version aims to improve confidence scoring and enable the processing of even the most complex risks in a fully explainable manner.
Agentic AI, which orchestrates teams of “digitization agents,” allows the platform to digitize any transaction type, regardless of size or complexity, without requiring training. This includes complex documents like loss runs and schedules of values. The platform’s intuitive human review features and “fast track” capabilities streamline the review of large datasets, allowing users to focus on fields requiring validation.
A key feature of Cytora Platform 3.0 is its enhanced explainability. The digitization agents provide transparent reasoning for their actions, offering clear confidence scoring at the field level. This “chain of thought” reasoning is accessible in the human review console, assisting users with validation and exception management.
Version 3.0 also advances self-service capabilities, enabling faster configuration of new workflows and lines of business through a visual editor with a natural language interface. This simplifies deployment and reduces the resources required, potentially improving operational ratios for insurance companies.
Cytora, which recently announced partnerships with Chubb, Arch, and Everest, developed the platform to help commercial brokers, insurers, and reinsurers process higher volumes of risk at lower marginal cost and with improved risk selection control. The platform saw a seven-fold increase in transaction volume processed in 2024.
Juan de Castro, COO at Cytora, said: “Cytora Platform 3.0 marks a major step forward in digital risk processing for commercial insurers. With agentic risk digitization, we have substantially increased the capability of our platform to digitize the highest complexity transactions and at the same time, enhance explainability, transparency and user experience.
