New York, USA; 10th October 2024: Cytora, the leading digital risk processing platform, has partnered with the leading independent global risk and financial advisory solutions firm, Kroll.
The integration will enable commercial insurance underwriters to gain real time replacement cost values for assets globally. This will enable underwriters to gain a comprehensive view of insurable value risks leading to faster and more accurate decisions.
Through the partnership, access to Kroll’s proprietary global valuation data will be directly integrated into Cytora’s risk processing platform. This will enable insurers to operationalize data more broadly across their lines of business (including for risk clearance, onboarding and triage), and more effectively through their multi-step workflows from submission to quote. As a result, they will achieve a faster and more accurate risk assessment while enhancing the experience for their clients.
Cytora’s mission to build one of the world’s most comprehensive data ecosystems for insurers. Partnering with Kroll follows a period of significant growth for Cytora including agreeing a major collaboration with Chubb, the expansion of a partnership with Arch to North America, and the launch of the latest enhancement to its platform which leverages Large Language Models (LLMs) alongside Cytora’s proprietary AI to bring a new level of efficiency to risk assessment, underwriting and claim management processes.
Juan de Castro, COO at Cytora, said: "This is another stride forward for Cytora’s in the US. It is the latest in a series of partnerships with innovative US companies that are rapidly growing our data ecosystem and presence. Kroll has a very powerful solution which leverages an impressive amount of information to take a lot of the risk and complication out of commercial insurance.”
Matthew Donahue, Managing Director, Fixed Asset Advisory Services at Kroll, said: “Cytora offers their clients a dynamic platform for enhanced risk management and decision-making. Our collaboration with Cytora empowers clients to navigate complex challenges and proactively remedy over and under insurance at scale, speed and with high accuracy.”
About Cytora
Cytora is the configurable platform that enables commercial insurers to process risks at greater efficiency and accuracy. Cytora digitizes every incoming risk, augments them with additional data sources, evaluates them against multiple rules, including appetite and priority rules, and routes them to downstream systems for automated or manual underwriting.
About Kroll
As the leading independent provider of risk and financial advisory solutions, Kroll leverages our unique insights, data and technology to help clients stay ahead of complex demands. Kroll’s team of more than 6,500 professionals worldwide continues the firm’s nearly 100-year history of trusted expertise spanning risk, governance, transactions and valuation. Our advanced solutions and intelligence provide clients the foresight they need to create an enduring competitive advantage. At Kroll, our values define who we are and how we partner with clients and communities. Learn more at kroll.com.
