Hi, and welcome. In this video, we will explain how Cytora works. Looking at a high level overview of the early stage of digital risk processing within the Cytora platform. Cytora is the configurable platform that enables commercial insurers to process submissions at greater efficiency and accuracy. Cytora digitises every incoming risk. Augments them with additional data sources, evaluates them against multiple rules, including appetite and priority rules, and routes them to downstream systems for automated or manual decision making.

Our platform enables the digitisation of insurance submissions, irrespective of their origin or format, digital risk processing. Digitises and operationalises diverse data sources, including submission data, internal data sources, external data sources, and inferred data into decision ready risks that are ready for decisioning. Digitising how risk flows, eliminates the need for manual data entry, reducing the risk of errors and streamlining the overall process. The platform evaluates risks, assesses attractiveness, complexity, or determines appropriate coverage options. This enables a more consistent and effective workflow. Digital processing of submissions with the insurance value chain has historically posed challenges, and here's why. The insurance value chain involves multiple entities collaborating extensively, ranging from clients and brokers to insurers, and various third party contributors throughout the value chain. Risk submissions are the product of complex collaboration between stakeholders, across organisations, from clients, to brokers, to insurers, to the many third parties involved across the value chain. It's a challenge getting all of these people to use the same data structures. Brokers, insurers and other participants are not in control of the risk data they receive, which is analog. For instance, data is not in a digital format. Heterogeneous many different variations, dispersed submission data, internal and external data sources.

The majority of risk submission data is not in a digital format, but arrives in emails and attached documents. Heterogeneous risk varies a lot. Software works well on deterministic problems. Risk submissions have a ton of variation. It's a challenge to capture all those risk field variations in a single platform and be able to dynamically evolve data schemas as risk understanding evolves. Even though each insurance company defines their own questions, they receive the majority of submissions on their peers' forms, which have different variations of their risk questions. Because of the many variations of similar risk fields, risk is hard to understand. Risk can be inscrutable to humans and computers alike, and we need risk professionals to interpret, compare, and ultimately standardise customer declarations and risk controls. Digitisation is constrained by the amount of time these professionals can spare. Moreover, insurance companies need to be able to add new risk fields to their schemas in a fast and flexible way to evolve their view of risk. Dispersed.

The risk submission does not contain all of the data required for decisioning. Insurance companies need to operationalise, combine, and orchestrate diverse data sources, both internal and external to achieve a decision ready risk. Abstracting these variations within a unified platform. While enabling data schemas to dynamically evolve is crucial to a scalable solution. Cytora streamlines the digitization process, collecting submissions, digitising them, evaluating them, making them decision ready without requiring intervention from insurance professionals.