Risk Flow Digest
Welcome to the May edition of Cytora’s Risk Flow Digest, where we share best practices on how insurers can digitize and optimize their risk processing workflows.
Announcing Cytora’s Risk Flow Academy: the commercial insurance industry first digital risk processing training
We are excited to introduce Risk Flow Academy, a new learning platform tailored specifically for commercial insurance professionals. Built on the back of best practices and insights gained from countless global deployments at scale, Risk Flow Academy offers comprehensive and in-depth training. It covers topics on digitizing submissions, leveraging out of the box schemas and templates, seamlessly integrating data sources into digital workflows, and more. Our mission is to empower insurance professionals with the skills and knowledge needed to thrive in the age of digital risk processing.
Cytora’s Risk Flow Academy training materials and videos are available online free of charge. Insurers looking to upskill entire teams in their organization can benefit from the expanded version of the Academy, which includes in-person training and workshops. Our specialist customer success team, renowned for their unmatched expertise and extensive hands-on experience, leads all training sessions.?
For more information visit Cytora’s Risk Flow Academy page or reach out to your Customer Success Manager.
Making Risk Flow May Episodes: How Culture Fits Forges Innovation Partnerships in Insurance & Reinsurance’s Digital Frontier: Data, AI and the Tech Wave
Dive into this month's episodes of Making Risk Flow! Join us as we explore the evolving landscape of the insurance industry with seasoned experts.
In "How Culture Fits Forges Innovation Partnerships in Insurance," Cytora’s Juan de Castro teams up with Arslan Hannani, VP Innovation Travelers, to discuss the role culture plays in driving innovation in the insurance industry. Dive deep into the dynamic discussion as we explore how Travelers' innovation team collaborates seamlessly with business units to foster growth. Discover effective methods for overcoming the formidable obstacles of innovation, including capacity and funding challenges. Delve into the nuanced comparisons between acquisitions and partnerships, weighing their respective advantages and drawbacks. Plus, unravel the critical importance of cultural compatibility in driving success within organizations. Tune in for a compelling conversation that unveils the intricacies of innovation in today's business landscape.
Listen to the full episode here.
In our latest installment on “Reinsurance's Digital Frontier: Data, AI and the Tech Wave” we feature industry veteran Emmanuel Clarke, Chairman at BMS Group and board member at Intact. In this discussion, Emmanuel delves into the transformative role of AI and data in reinsurance workflows. With his extensive experience in reinsurance, insurance, and broking, Emmanuel offers a unique perspective on how data flow across the value chain is revolutionizing the sector, making it more efficient and effective. Discover how cutting-edge technologies are empowering insurers and reinsurers to streamline processes by digitizing unstructured data upfront.?
Listen to the full episode here.
InsurTech Community Event: Democratizing GenAI Within Insurance to Ensure Success
Cytora's COO, Juan de Castro will be participating in an exclusive panel discussion tomorrow at 2PM at Google HQ in Kings Cross, London. Hosted by Google Cloud, this event will examine the transformative impact of Generative AI on the insurance industry and explore strategies for successful integration within organizations. The event will bring together AI experts and senior executives from across the insurance sector, providing a platform to discuss the real opportunities and challenges. Attendees will gain insights from notable speakers, including Google Cloud’s MD of Insurance, and industry leaders from Tokio Marine Kiln, Admiral plc, Miller Insurance, and Bupa. For more details and to view the full agenda, please visit the event page.
SambaSafety joins the Cytora data ecosystem
This month, Cytora welcomed SambaSafety to its ecosystem of risk data and insight providers. This partnership will empower commercial insurance underwriters with comprehensive insights, enhancing their ability to evaluate and make more informed decisions on business risks associated with driving safety records. By seamlessly integrating SambaSafety's driver risk management platform with Cytora's digital risk processing platform, insurers can now access a comprehensive set of driver data, including motor vehicle records, traffic court data, and telematics insights. This integration streamlines workflows, enabling insurers to unify risk data, digitize core processes, and expedite decision-making from submission to quote. With a focus on innovation and efficiency, Cytora continues to redefine insurance workflows, ensuring that insurers have access to the most advanced tools for assessing and managing auto-related risks.
Read the full press release here.
Cytora’s CEO shares insights in “Decision ready risk – the future of commercial insurance” podcast episode by Instech
Discover Cytora CEO Richard Hartley's insightful perspectives on the crucial role of technology in understanding and standardizing risk data in this recent podcast episode hosted by InsTech’s Matthew Grant. In a marketplace flooded with diverse clients, brokers, and insurers, Hartley emphasizes the inherent heterogeneity and lack of standardization in risk data. He stresses the necessity for technology to interpret and digitize this data, transforming it into a format tailored to each insurer's unique risk assessment framework. By harnessing technology, insurers can gain greater control over the data they receive, streamline workflows, and make more informed decisions. Tune in to gain valuable insights into the future of risk assessment and digital transformation in the insurance industry. Listen here.