Cytora, the artificial intelligence company powering a new way for insurers to price risk, has today announced winning ‘Best AI Product in Insurance’ at the 2018 CogX Awards, which took place in London earlier this week.
This award celebrates Cytora’s Risk Engine technology, which transforms the way insurers target, select, and price risk by applying artificial intelligence to identify patterns of good and bad risks over time. These insights enable insurers to improve profitability while delivering fairer prices and a better buying experience to their customers and broker partners.
“This award is a testament to the vision and hard work of our growing team, who work tirelessly to push the boundaries of what is possible,” said Richard Hartley, CEO and Co-founder, Cytora. “The Cytora Risk Engine is already helping global insurers to gain a better understanding of the risks that they underwrite, and we’re thrilled to be recognised by our peers in the AI community.”
The CogX Awards, part of the CogX festival, is judged by an esteemed panel and celebrates the best in AI worldwide across a range of industries and domains. The event attracted more than 6,000 attendees and 300 speakers this year, making it one of the largest AI events around.
Cytora is an artificial intelligence company powering a new way for commercial insurers to target, select and price risk. With the Cytora Risk Engine, insurers can measurably grow premium and reduce loss ratios while delivering more accurate prices to customers. Cytora is a trusted partner to global insurers, backed by leading venture capital, and supported by builders of some of the world’s most successful technology companies. With a world-class team of experts in machine learning, risk modelling, finance and search, Cytora is powering the insurance companies of the future.