Digital risk processing platform Cytora has partnered with property data firm Chimnie to enable property insurers to make faster and more accurate decisions.
Chimnie holds one of the UK’s largest property datasets. It includes detailed information on abuilding’s construction, physical attributes, topology, valuation, and much more.
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As a result, the integration between Cytora and Chimnie will bring data directly into the risk processing platform. It will then allow property underwriters to bring it into their workflows, resulting in better risk evaluation and decision-making.
Chimnie’s datasets are powered by AI modelling and combine information from a large range of sources including HM Land Registry, Royal Mail, the NHS, Ordnance Survey and British Geological Survey.
Juan de Castro, COO at Cytora, said: “Cytora is on a mission to provide insurers with a range of best in class AI driven solutions powered by a world leading data ecosystem. Our partnership with Chimnie is a big step forward towards achieving this goal. Chimnie’s team have built the UK’s most comprehensive property dataset and, by integrating it into Cytora’s platform, underwriters can instantly leverage this critical information to make faster and more intelligent decisions.”
Tomás Arribas, CTO at Chimnie, added: “We are delighted to announce our strategic partnership with Cytora which will leverage Chimnie’s industry-leading geospatial and property data to enhance Cytora’s insurance risk assessment capabilities. Our comprehensive data will empower Cytora to streamline the validation of insurance submissions, perform in-depth evaluations of relevant risk parameters, and ultimately support insurers in making more accurate underwriting and pricing decisions and deliver long-term value to both Cytora and its customers.”
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By GlobalDataJust this month, Cytora expanded its advisory board with the addition of Emmanuel Clarke to help boost the firm’s global growth.
Previously president and CEO of PartnerRe, Clarke has held leadership roles across P&C and specialty lines, as well as building out a global reinsurance business.
He also serves on the boards of various companies including Intact Financial Corporation, BMS and Compre.
