Digital risk processing platform Cytora has collaborated with AI-powered weather analytics company Vāyuh to enhance property insurance underwriting.
Vāyuh’s advanced climate and weather data models will be integrated into Cytora’s digital risk processing platform, providing property insurance underwriters with essential analytics and risk scores to assess climate and weather-related risks more effectively.
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The move comes in response to increasing losses from natural disasters such as wildfires and severe storms, which were previously considered secondary perils but are now a growing concern for insurers.
Vāyuh specialises in AI applications that assess property-level risk exposure. Its climate risk models incorporate various factors that affect a property’s value and vulnerability to natural hazards.
The company draws from thousands of sources across millions of locations to produce detailed risk analyses. These insights are powered by physics and genAI, offering forecasts and models for temperature, wildfire, precipitation, wind and severe convective storm risks.
Vāyuh’s approach utilises thousands of data sources across millions of locations to create detailed risk perspectives, combining this information with physics and genAI to produce highly accurate forecasts and risk models.
Through the partnership, underwriters using Cytora will gain access to automated risk enrichment, leading to reduced manual processing and enhanced decision-making accuracy.
This is expected to improve underwriting efficiency and enable more precise risk selection, potentially increasing insurer profitability.
Cytora COO Juan de Castro said: “We are committed to empowering insurers with the most advanced tools for assessing and managing risks. One of the most pressing challenges insurers face is adapting their approach in the face of increasingly destructive extreme weather events. Our partnership with Vāyuh equips insurers with a powerful new resource for understanding and mitigating climate and weather-related risks.”
The Vāyuh integration is part of Cytora’s broader strategy to expand its insurance data ecosystem.
Earlier this year, Cytora partnered with Smarty, a property data solutions company, to strengthen property risk evaluation for insurers by embedding Smarty’s robust US property data into Cytora’s platform.
This data includes more than 350 attributes such as geospatial accuracy, building footprint details and address verification.
