Allianz enhances the commercial insurance business with Cytora
Agreement with Cytora will power Allianz’s mission of building a scalable, digital and data-driven commercial insurance business model
- Agreement with Cytora Limited advances Allianz’s mission of building a scalable, digital and data-driven commercial insurance business model
- Investment in AI-based digital risk processing increases the efficiency and effectiveness of underwriting, thereby enabling better customer service
- The partnership will allow for a deeper understanding of risks and support the execution of a value-maximizing portfolio strategy
Munich, London, December 13, 2021
Allianz SE today announces an agreement with Cytora, a London-based insurtech firm, to enhance Allianz’s commercial insurance business with AI-based digital risk processing solutions. The partnership will benefit Allianz by improving margins through better risk selection and a deeper understanding of risks.
“This is great news for our customers, intermediaries and underwriters. With the new technology our underwriters can focus on the most value adding tasks. And our customers benefit from better service and a quicker turnaround,” said Jörg Hipp, Head of Business Transformation in Allianz SE’s Global Commercial Group Center.
Richard Hartley, CEO of Cytora commented: “We are excited to partner with Allianz who share our vision of digital risk processing. With the deployment of our platform across the group, Allianz will accelerate their transformation enabling them to provide scalable, digital and data driven commercial insurance.”