The collaboration will integrate Moody’s RMS Location Intelligence API directly into Cytora’s platform, providing property and casualty (P&C) insurers with deeper insights into climate and natural disaster risks.

By seamlessly integrating Moody’s RMS data, Cytora empowers insurers to enhance their risk assessment capabilities across various lines of business. This includes applications such as risk clearance, onboarding, and triage, streamlining workflows from initial submission to final quote. This integrated solution enables insurers to unify their risk data, digitize core processes, and ultimately make faster, more informed decisions, leading to improved speed to market and enhanced profitability.

Richard Hartley, CEO and Co-Founder of Cytora, commented, saying: “Natural and manmade catastrophes, influenced by a changing climate, are bringing a huge range of difficult challenges to the insurance industry that are only going to grow. Unchecked, customers face soaring reinsurance costs and even the prospect of becoming uninsurable. The insurtech industry can play a vital role in helping insurers overcome these challenges.” 

Michael Richitelli, Managing Director – Global Insurance Sales at Moodys said:“The changing catastrophe risk landscape means it’s more important than ever for insurers to accurately assess the impact of catastrophe risk as part of the risk selection and pricing process. By leveraging the same rich science that underpins our probabilistic models, Location Intelligence ensures that quality analytics are being used early in the underwriting process.”

He added: “The partnership with Cytora provides an exciting opportunity to combine advances in technology with Moody’s RMS’ catastrophe model science. Together these solutions can improve both underwriting productivity and performance.”