Configurable Rules
Configurable Rules
Evaluate and route risks differently
Effective risk workflows evaluate and route risks without absorbing capacity. Rules are encoded in an intuitive no-code rules interface enabling risks to flow to correct destinations based on appetite fit, portfolio strategy, automation thresholds and other configurable rules. Evaluation and routing rules can be combined with automation thresholds to progressively increase capacity - for example, enabling insurers to move from appetite filtering to auto-declines for out-of-appetite risks. Risk evaluation (including risk appetite filtering and prioritization) rules require context and granularity to be effective which means risk evaluation schemas require the integration and combination of submission data, internal, external and inferred data sources. Many of the data sources used to identify outsized risks are external data sources, for example, peril risk scoring for property risks, trending financials for Liability risks, and port vulnerability scanning for Cyber risks.
Configurability
Multi-step flows
Cytora platform enables risk professionals to compose multi-step flows which process risks differently. This includes branching flows that separate risks based on how they are evaluated and support risks to be processed differently – for example, auto-declining out-of-appetite risks, streamlining low complexity risks for accelerated review and steering high complexity risks for extensive underwriter review.
Flexible rules
Rules that distinguish
Risk evaluation success depends on achieving comprehensiveness and granularity by combining submission, internal and external data sources into multiple step flows. This enables rules to execute against the complete risk data required to separate risk based on the unique rules of each insurer.
Pre-built rules
Routing
Cytora enables risks to be routed to correct downstream destinations orchestrating the flow of risks to support end-to-end decisioning. Out-of-appetite risks flow to the CRM to streamline auto-declines, low complexity risks are sent for straight through processing, higher complexity risks are sent to the workbench for review. Downstream systems are pre-populated with the correct risk data according to their target schema reducing and over time eliminating rekeying.
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At Markel, we are committed to giving brokers and clients enhanced service levels and Cytora will enable us to create capacity to effectively grow our scale in our key sectors and enable our underwriters to provide further enhanced service to customers and brokers."
Managing Director
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