Automated Underwriting

Improve underwriting performance and automate processes using accurate location and rating information

Problem

Insurers often receive incomplete information, which makes it difficult for them to asses risk accurately and efficiently.

Solution

The Cytora platform provides a set of easy-to-integrate APIs that automatically enrich each submission with accurate location and rating data and provide the foundation for automation.

Our building blocks to automate underwriting

Property API
Find and verify any address

Our Address Search and Reverse Geocoding tools resolve addresses, match addresses to company names, and turn company names into coordinates on a map. This means you only need to ask for one business identifier to accurately locate a customer.

  • Improve address accuracy using reverse geocoding
  • Verify and correct addresses in bulk using the permanent endpoint
Property API
Enrich every submission

Our Locations API instantly connects rating information, such as company financials and adjacent building occupancy, to each submission, providing the information you need to accurately quote in seconds.

  • Reduce question sets
  • Automate data retrieval
Price API
Augment decision making

Use our Price API to connect submissions with pricing models, create and update underwriting rules, and automatically decline or prioritise submissions.

  • Quote the best submissions first to increase your win rate
  • Automatically decline submissions that do not match underwriting appetite
Policy API
Record and retrieve each policy

With our Policy API, you can create a linked or unlinked policy for every quote offered. Retrieve a single policy or multiple policies at any point, integrate with your existing policy admin system, and retrieve a portfolio of all written policies for downstream analysis.

Benefits for insurers

Gain a superior view of risk

Use comprehensive information to power every underwriting decision.

Unlock value through automation

Automate repetitive tasks like data assembly and rekeying to boost efficiency.

“At Convex, we are building an efficient and data-driven underwriting process, which from day one will enable us to provide the best possible products to our customers. By harnessing Cytora’s cutting edge infrastructure, we will be able to deliver upon our key strategic goals in an ever-changing landscape”

Adrian Spieler

COO at Convex