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London, UK, 17 October 2024: – Cytora, the leading digital risk processing platform, has partnered with Meetrisk, provider of cutting-edge marine risk intelligence.
The integration of Meetrisk’s Marine Platform into Cytora’s advanced underwriting productivity tool will allow marine insurers access to enhanced tools for precise risk evaluation and management of vessels, fleets and portfolios. This will mean that they are better able to mitigate against the current challenges of an increasingly fragmented shipping industry, and the geopolitical and climate-related concerns that are having more of an impact on the sector than ever.
Meetrisk excels in delivering detailed and accurate risk assessments on the marine industry. Its latest platform offers a number of innovative new features, including an enriched marine risk scoring solution, an automated war zone insurance management tool, an automatic calculation of accumulated values for a specific zone, as well as screening for international sanctions concerning a vessel. Such comprehensive data will enable more efficient risk evaluation and better decision-making for insurers.
Cytora’s partnership with Meetrisk 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 Meetrisk’s suite of critical data into our platform is an important milestone for Cytora. Meetrisk’s sophisticated risk assessment capabilities for the marine insurance industry perfectly complement our mission to optimise underwriting workflows, and we are delighted to be working together to support more insurers as they enhance their competitive edge, with the ability to make quicker, better-informed decisions.
Laurent Barbagli at Meetrisk, said: “Our collaboration with Cytora represents a significant step forward in applying data to solve complex problems in marine insurance. Together, we will enable insurers to navigate the current uncertainties of the global marine industry with greater confidence and precision.”
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 Meetrisk
Meetrisk is a marine Insurance-as-a-service Platform which seizes all the Marine Data and its value for providing cutting edge solutions to the marine underwriters. These solutions address the whole value chain of the underwriting with digitized processes overhauling the complex and manual tasks and enhancing the capabilities of marine insurance.
