Process risks differently according to your unique business rules
Insurers often do not have control of their risk flow where risks are evaluated subjectively and decisioned on an ad hoc basis. In addition, growth in premiums are tightly coupled to growth in expenses preventing operating leverage. To control and scale risk flows, insurers need to evaluate risks without absorbing capacity and control where risks flow. This enables scarce capacity to be concentrated on the right risk cohorts ensuring out of appetite risks are declined, low complexity risks are streamlined and high complexity risks are matched to the appropriate level of authority. The Cytora platform puts risk data, risk context and rules at the centre, activating risk professional time based on powerful conditionality, enabling customers to scale risk volume, streamline declines, accelerate quotes and pre-populate downstream systems. Different processing modes can be configured relative to risk complexity enabling insurers to underwrite by exception in low complexity segments and undertake comprehensive risk review for complex risk flows.
Granularity
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 and steering high complexity risks for extensive underwriter review.
Rules encoding
No-code interface
No code rules builder enables rules to be created, tested and deployed directly from the configuration interface. This enables insurers to dynamically update rules as risk changes and market dynamics evolve achieving real-time control over risk processing workflows.
Control
Backtest
The marginal impact of updated rules can be backtested against historical risk flows enabling insurers to simulate “what if” scenarios to support and de-risk optimization to risk workflows to support new objectives.
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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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