London, UK, 17 July 2024: – Cytora, the leading digital risk processing platform, has partnered with Gamma Risk, the global provider of location intelligence systems and services.
The integration of Gamma Risk's Perilfinder™ into Cytora’s advanced underwriting productivity tool will provide insurers with enhanced tools for precise risk evaluation and management. Perilfinder™ is a cutting-edge address-level risk assessment and reporting solution that includes map visualisation, intuitive risk and accumulation scoring, and powerful spatial catastrophe models. This will enable more comprehensive risk evaluation and better decision-making.
Perilfinder™ excels in delivering detailed and accurate risk assessments at the address level. Its features include comprehensive map visualisation and accumulation reporting essential for robust risk evaluation. Using the accumulation reporting tool, insurers will be able to identify the exposure of an insurance book. Additionally, Perilfinder™ offers associated web services for form prefill and rebuild calculation, all within the cloud and delivering results in sub-second time.
Cytora’s partnership with Gamma Risk is the latest in a series of partnerships that Cytora has signed as part of its mission to build one of the world’s most comprehensive data ecosystems for insurers. It also follows a period of significant growth for Cytora including agreeing a major collaboration with Chubb 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 accuracy and efficiency to risk assessment and underwriting processes.
Juan de Castro, COO at Cytora, said: “Incorporating Gamma Risk's Perilfinder™ into our platform is a significant milestone for Cytora. Perilfinder™’s sophisticated risk assessment capabilities, including its intuitive scoring and detailed map visualization, perfectly complement our mission to optimize underwriting workflows. This integration will enable insurers to perform more accurate risk evaluations and make better-informed decisions, thereby enhancing their competitive edge.”
Richard Garry, CCO at Gamma Risk, said: “As well as expanding the reach of the data we deliver through Perilfinder™, this partnership with Cytora enables us to equip insurers with the tools they need to make more informed assessments. We pride ourselves on working on projects where technology can transform business operations and industry practices. Collaborating with a forward-thinking company like Cytora allows us to be at the forefront of industry advancements. Through Perilfinder™, we aim to streamline processes, enhance service delivery, and enable growth.”
