Digital risk processing platform Cytora has partnered with TradeAtlas to enable marine insurers to leverage data.
The partnership between Cytora and TradeAtlas will give a huge range of import and export information to make faster, more accurate risk decisions.
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Furthermore, the integration between the two will bring all of this data directly into Cytora’s risk processing platform. As a result, marine insurers can seamlessly bring it into their digital workflows.
Juan de Castro, COO at Cytora, said: “Our partnership with TradeAtlas brings a massive amount of critical data into the Cytora platform which can be leveraged to make better, faster and more seamless insurance decisions.
“We’re well on our way to building one of the insurance industry’s most comprehensive data ecosystems. It already offers any insurer a treasure trove of detailed information that will transform how they make decisions.”
Ali Emek, founder and CEO of TradeAtlas, added: “We are delighted to partner with Cytora and have our data accessible through their leading-edge platform for the insurance industry. Being a part of this ecosystem along with all other valuable partners, I hope this would lead to a better and faster decision-making process for the whole industry, and a better world.”
TradeAtlas collects and analyses data from 30 million importers and 27 million suppliers. Its datasets include 2.8 billion lines of transactions and information on shipments, business addresses, HS codes, product definitions for merchandise, prices, quantities, ports and notifying parties.
In March 2024, Cytora 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.
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.
