Insurance
Is incumbents vs disruptors the wrong debate in insurance?
By Juan de Castro, CCO / COO, Cytora
09-04-2021
5 mins read
A world where risk transfer is effortless and fair
Powering the future of commercial insurance
Insurance is vital to the economy, giving businesses the confidence to realise their ambitions in the face of uncertainty, but the underlying systems that insurance is built on are broken. Cytora is creating new foundations for insurance. We provide insurers with the building blocks they need to deliver efficient, accurate underwriting and seamless customer experiences.
History
2014
Founded and spun out of the University of Cambridge
2015
Proprietary Risk Engine technology developed and refined
2016
Launched Risk Engine API
2017
Partnered with world-leading, global insurers such as QBE, Starr and XL Catlin
Raised $7.6M series A round with QBE, Starr and Cambridge Innovation Capital
Risk Engine deployed globally across commercial lines
2018
Launched Cytora Underwrite
2019
Raised $32M series B round with EQT Ventures
Launched Cytora API Platform
2020
Launched Underwriting Productivity Suite
Became a remote-first company
Cytora is a remote-first company.
Our employees can choose to work from any location they desire, no longer restricted by the unnecessary demands of a physical office.
Find out more in our remote-first manifesto here.
Investors
Our investors bring unrivalled expertise and have supported the growth of some of Europe’s leading businesses.
Team
Cytora was founded by a team of machine learning scientists, data engineers, and strategists. We believe that in the next decade, insurance will become simple, frictionless, and transparent, driven by exponential growth in data liquidity.
Advisory board
Our advisory board is made up of insurance industry leaders and builders of some of the world's most successful technology companies. Together, we are creating a new way to conceptualise, price and deliver insurance.
Adrian Brown
Previously CEO at Towergate Insurance, CEO UK at RSA
Alan Morgan
Chairman of MMC Ventures, Non-Executive Director of companies including Future Route, Funding Options and Obillex
Bill Byrne
Head of Information Engineering division at the University of Cambridge
Carol Cheung
Director at GeoSpock, Principal at Cambridge Innovation Capital (CIC)
Kelly Lyles
Former Chief Executive, Client and Country Management, AXA XL
Ilkka Paananen
Co-founder and CEO of Supercell
Lyle Fong
Partner at EQT Ventures
Matthew Grant
Executive Director at Abernite, Former Managing Director of models and data at RSM
Paul Forster
Co-founder and former CEO of Indeed.com
Ted Briscoe
Professor of Computational Linguistics at the University of Cambridge
Thomas Huerlimann
Former CEO, Global Corporate at Zurich Insurance; Non-exec director at Hiscox