Moody’s Collaborates With Cytora To Digitise Core Risk Workflows
Moody’s Collaborates With Cytora To Digitise Core Risk Workflows
To give the commercial insurance sector a more streamlined and knowledgeable view of risk, Moody’s Analytics and insurtech, Cytora, have partnered.
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The Moody’s data is already integrated into the Cytora platform, giving insurers better control over risk selection and raising GWP as a result.
With access to Moody’s Analytics data and insights through Cytora’s risk digitization platform, commercial insurers will now have better data insights and be able to make decisions more quickly.
Moody’s Analytics has a remarkable track record of innovating on how insurers can access company information, which includes credit ratings, to evaluate and manage risk, making it a highly sought after data source.
Integration of data sources like Moody’s Analytics directly into risk processing workflows, enables insurers to digitise their core workflows, make better informed decisions on risk and improve speed to market; enhancing broker and client experience.
Moody’s Collaborates With Cytora To Digitise Core Risk Workflows
At the same time, Cytora’s digital risk processing platform enables insurers to operationalize data more broadly across their lines of business.
Juan de Castro, COO of Cytora, commented: “Two major challenges insurers faced when trying to use external data, was the integration cost, and the challenge of embedding new data in the underwriting process and decision making.
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“This partnership expands Cytora’s data marketplace, allowing insurers to operationalize Moody’s Analytics data at the flip of a switch, in these workflows. Driving superior risk evaluation, while avoiding costly integration efforts.”
James Ingram, Managing Director at Moody’s Analytics, added: “Chief underwriting officers we speak with are investing in data and analytics to improve risk selection, enhance the customer experience and increase cost efficiencies. Data management is fundamental to achieving these objectives.
Moody’s Collaborates With Cytora To Digitise Core Risk Workflows
“The Moody’s partnership with Cytora brings advanced technology and valued data assets together to enable insurers to unlock competitive advantage in their underwriting workflows. We’re excited about the potential this will deliver for our customers and what it means for overcoming data challenges that confront the wider industry.”
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Earlier this year Cytora entered into a partnership with Beazley to streamline insurance for brokers and clients.
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