London, UK; 15th December 2022: Cytora, a digital risk processing platform, and Creditsafe, a leading data and insights provider, have partnered to provide the commercial insurance industry a more streamlined and informed understanding of risk.
Through this partnership, commercial insurers will now have the capability to automatically embed Creditsafe’s data and analytics insights within Cytora’s industry leading risk digitisation platform thus enabling improved data utilization, enhanced insight and faster decision-making.
Creditsafe has a track record of innovating on how insurers can use company information including credit ratings and compliance data at the point of submission to evaluate and assess risk.
Integration of data sources like Creditsafe directly into risk processing workflows enables insurers to digitize and orchestrate their core workflows, make better informed decisions on risk and improve speed to market enhancing broker and client experience.
From a data strategy perspective, it enables insurers to operationalize data more broadly across lines of business (including for risk clearance, onboarding and triage) and more effectively through their multi-step workflows from submission to quote.
The partnership builds on a growing ecosystem of data and insight providers pre-integrated into the Cytora platform enabling an integrated end-to-end customer journey.
Juan de Castro, COO of Cytora, said: “With this new integration insurers now have seamless access to Creditsafe’s vast company information data within Cytora’s data ecosystem. This allows insurers to operationalise at the flip of a switch Creditsafe’s data within their underwriting workflows, driving superior risk evaluation and avoiding costly integration efforts”
Chris Robertson, CEO of Creditsafe UK and Ireland, adds: “The partnership with Cytora is an example of how platforms can utilise trusted Creditsafe data to improve their product offering. I’m excited about the opportunities this partnership creates for insurers, helping them make quick and informed decisions about their customers and suppliers within the Cytora platform.”
