Risk Flow Digest
Welcome to the April edition of Cytora’s Risk Flow Digest, where we share best practices on how insurers can digitize and optimize their risk processing workflows.
Few places left for the “Accelerating the Digital Shift: How to streamline commercial Insurance processes” upcoming webinar - 23rd April at 12PM EST
Don't miss out on the opportunity to register for our upcoming webinar on "Accelerating the Digital Shift: Streamlining Commercial Insurance Processes." Join us as we delve into the dynamic world of commercial insurance underwriting, exploring the impact of the digital transformation currently underway. Our panel of industry experts from Veridion and Cytora will provide firsthand accounts and effective strategies for tackling common hurdles such as legacy systems and data management challenges. Discover how to leverage third-party insurance data effectively, decipher data quality standards, and seamlessly integrate them into your workflows.?
Few places left, register here to secure your spot.
Watch The Future of Underwriting has arrived in New York event recap video
On March 14th 2024 Cytora in partnership with Google Cloud and Instech hosted an exclusive event on The Future of Underwriting has Arrived in New York. It was a pleasure to welcome over a hundred risk professionals across the insurance industry.?
Watch this video to discover what attendees had to say about the event and what were the key insights:?Watch video.
Making Risk Flow April Episodes: Creating the Network Effect in Insurance & The Soft side of the Soft cycle?
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 "Creating the Network Effect in Insurance," Cytora’s Juan de Castro teams up with Bill Bloom , a distinguished board member at Aviva Canada, Bamboo Insurance, and Foundation Risk Partners. Drawing from his extensive background at top-tier firms like Travelers, The Hartford, and Accenture, Bill delves into the industry's slow evolution, highlighting challenges in underwriting and claims. Discover how technology can unlock untapped value in insurance. Listen now: https://www.cytora.com/podcasts/creating-the-network-effect-in-insurance-bill-bloom-aviva-canada
领英推荐
In our latest installment, former CUO at Allianz Global Corporate & Specialty (AGCS), Tony Buckle , and former CEO at B3i, John Carolin, CA(SA), CFA, present invaluable insights in "The Soft side of the Soft Cycle." They shed light on the intricacies of navigating soft markets, emphasizing proactive management strategies. Learn how to steer through the challenges, set the right culture, and seize opportunities before the market shifts. Act now and stay ahead! Tune in here: https://www.cytora.com/podcasts/the-soft-side-of-the-soft-cycle-tony-buckle-john-carolin-uwx
“Scrapping the spreadsheet: start-ups take aim at an old insurance addiction” by Financial Times - Cytora’s CEO Richard Hartley shares his insights
The insurance industry's vibrant diversity in carriers, products, and brokers fuels its strength, yet it also presents challenges. As new systems, models, and datasets emerge, the demand for efficient, interconnected processes becomes increasingly evident. The acceleration of AI, tailored to commercial insurance, is now unlocking streamlined end-to-end risk workflows. This enables a more strategic allocation of underwriter judgment, guiding it to complex, unusual, or critical risk aspects where enhanced judgment can significantly elevate decision quality. Check out Cytora's CEO, Richard Hartley insights into this narrative in this article by the Financial Times: https://www.ft.com/content/94d939ff-c24d-4d2d-adc0-1a34a37eb78c?accessToken=zwAGFYL6B9EgkdOU2Tn_wk1NLdOtwBo0o363jA.MEUCICtspAJeA7D0uzHFzppm5Vy1VKGul2bk3nHL6DudI2lJAiEAwqSyqpfAyuzV1nycR-RyAkKjq7T2IEnzH_v90NnTob4&sharetype=gift&token=f45296d7-a253-4471-abee-2b4093b2db61
New additions to the Cytora data ecosystem: TradeAtlas, Chimney, Bright Data & DynaRisk?
This month, Cytora welcomed four new partners to its ecosystem of risk data and insight providers, a warm welcome to TradeAtlas , Chimnie , Bright Data and DynaRisk .??
Cytora’s partnership with TradeAtlas will enable marine insurers to leverage a vast range of import and export information to make faster and more accurate risk decisions; our collaboration with Chimnie enables property underwriters to seamlessly bring crucial property data into their risk workflows; the partnerships with Bright Data will grant underwriters access to the world's leading public web data platform enabling them to make more precise decisions; and the collaboration with DynaRisk will help insurers understand and reduce cyber risk. These partnerships represent another step towards our mission to build a comprehensive data ecosystem for insurers that can be easily operationalised in risk workflows.
Read the full press release for TradeAtlas , Chimnie , Bright Data and DynaRisk .
Cytora’s case study with Markel featured in Instech’s Report “From data to decision”
In its recent report on underwriting efficiency titled “From data to decision”, Instech highlights Cytora’s groundbreaking collaboration with Markel , showcasing a transformative case study. The report underscores challenges underwriters face in navigating disparate data sources and time-consuming manual tasks, emphasizing the industry’s shift towards adopting new technologies to streamline and enhance decision-making. Through Cytora’s risk processing platform, leading insurer Markel achieved remarkable results, reporting a productivity surge of over 113% and slashing turnaround times from 24 to 2 hours on average for strategic broker partners.?