While the goal may seem ambitious, Cytora is making significant inroads toward improving underwriting—ultimately with happier insurance-buying customers.
Stephen Catlin and Paul Brand's newly launched specialty re/insurer Convex Group has partnered with UK-based insurtech Cytora to develop artificial intelligence-powered solutions for the commercial insurance industry.
London’s tech scene is booming, characterised by a strong blend of AI, e-commerce and fintech platforms ready to take the world by storm.
Cytora's vision of the future is that a large amount of underwriting in the next three years will become automated, driving efficiency and profitability for insurers.
Artificial intelligence is transforming the insurance market, reducing risk and giving underwriters and claims professionals a deeper insight into their customers.
Cytora, a U.K. startup that developed an AI-powered solution for commercial insurance underwriting, has raised £25 million in a Series B round.
AI-driven pricing is transforming insurance.
Insurers that embrace artificial intelligence and automation will gain a competitive edge that could help them swallow their rivals in the future, experts have said.
Like with many financial services, consumers are shifting towards digital-first products. But for Richard Hartley, CEO & Co-Founder of Cytora, for him it's millennials that are truly in the driving seat.