Credit: Andriy from Mykolayiv/Shutterstock.

Digital risk processing platform Cytora has collaborated with Meetrisk, a provider of cutting-edge marine risk intelligence.

The integration of Meetrisk’s Marine Platform into Cytora’s underwriting productivity tool will allow marine insurers access to enhanced tools for precise risk evaluation and management of vessels, fleets and portfolios.

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In addition, this will mean that they are better able to mitigate against the current challenges of an increasingly fragmented shipping industry, and the geopolitical and climate-related concerns that are having more of an impact on the sector than ever.

Meetrisk delivers detailed and accurate risk assessments on the marine industry.

Its latest platform offers a number of innovative new features, including an enriched marine risk scoring solution, an automated war zone insurance management tool, an automatic calculation of accumulated values for a specific zone, as well as screening for international sanctions concerning a vessel. 

As a result, such comprehensive data will enable more efficient risk evaluation and better decision-making for insurers. 

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Juan de Castro, COO at Cytora, said: “Incorporating Meetrisk’s suite of critical data into our platform is an important milestone for Cytora. Meetrisk’s sophisticated risk assessment capabilities for the marine insurance industry perfectly complement our mission to optimise underwriting workflows, and we are delighted to be working together to support more insurers as they enhance their competitive edge, with the ability to make quicker, better-informed decisions.

Laurent Barbagli at Meetrisk added: “Our collaboration with Cytora represents a significant step forward in applying data to solve complex problems in marine insurance. Together, we will enable insurers to navigate the current uncertainties of the global marine industry with greater confidence and precision.”

This month, Cytora partnered with PriceHubble to enable insurers to utilise insight from the largest proprietary real estate database in Europe.

It will combine PriceHubble’s suite of data and insights on Cytora’s platform. This can include valuations, market analyses, value forecasts, building simulations or energy performance insights.

As a result, underwriters are able to assess the risks linked to specific properties or portfolios, understand potential vulnerabilities and adjust their strategies to mitigate them. This will enable more comprehensive risk evaluation and faster, better decision-making.