London (29 March 2024) - Cytora, the leading digital risk processing platform has partnered with Bright Data, world's leading public web data platform to offer its products to customers.
Bright Data specialises in public web data collection, with state-of-the-art tools and datasets to access real-time data that helps the insurance industry manage risk with clarity and confidence. With Bright Data’s tools, businesses can extract insurance data to inform underwriting and ensure reasonable terms, create more accurate forecasting models, predict a company’s profitability, vehicle’s safety, or true market price or customer’s liability. It allows businesses to access automated streams of data from government, news, construction and building plans, and more to ensure accurate and rapid decisions.
Cytora’s platform enables insurers to operationalise data across their workflows and lines of business. This includes risk clearance, onboarding and triage. Bright Data’s suite of tools delivers an automated stream of data into risk-processing workflows. As a result, underwriters can make faster and more informed decisions from submission to quote, improve speed to market and enhance the broker and client experience.
Juan de Castro, COO at Cytora, said: “We are committed to reshaping the underwriting processes within the insurance sector. Our collaboration will empower underwriters with a scientific approach to risk assessment, enabling them to make more precise decisions and better serve their policyholders.”
“Data available from public sources allows businesses to make informed decisions. For the insurance industry, public web data helps to develop risk models, can alert to fraud, determine value, verify claims, and much more,” said Or Lenchner, CEO of Bright Data. “We are pleased to offer our capabilities to Cytora’s customers which will better serve the insurance industry.”
