London, UK; 14th March 2024: Cytora, the leading digital risk processing platform, has partnered with consumer and business data provider Techsalerator. The partnership will enable commercial liability insurers to automatically gain a range of data insights when assessing business risks.
The integration will bring crucial business data points such as revenue, industry, employee numbers, as well as ESG scores and KYC from Techsalerator directly into Cytora’s risk processing platform enables 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. This allows insurers to unify their risk data, digitize their core workflows and make better-informed decisions on risk and improve speed to market.
Techsalerator is one of the largest data resources in the world with information on more than 320 million businesses and 2 billion consumers across 144 countries. Underwriters using Cytora’s platform will have access to these datasets enabling them to immediately gain a far more accurate picture of a company’s riskiness.
The integration 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: "Techsalerator holds a wealth of important commercial information that is invaluable to commercial underwriters. By integrating these datasets directly into our platform we can empower insurers to make faster and more accurate decisions. It is yet another example of how businesses from different sectors can come together to create attractive new solutions.
“Cytora is on a mission to provide insurers with a range of best in class AI driven solutions powered by a world leading data ecosystem. Partnerships with dataset leaders like Techsalerator are a crucial part of this journey.”
Max Wahba, CEO at Techsalerator, said: “We are excited to partner with Cytora and make available our data assets on their platform. This will allow insurers to extract all the insights covered across our databases and is part of our constant effort to make our data available across the whole data ecosystem. ”
