Cytora partners with hyperexponential for fast underwriting
Cytora, the digital risk processing platform, has partnered with pricing decision intelligence company hyperexponential, providing commercial insurers with more streamlined and informed risk pricing capabilities.
Claiming the partnership will help insurers deliver ‘supersonic underwriting’ to their clients, the integration of hyperexponential’s services with Cytora will create a solution that reduced quote turnaround time to minutes, as opposed to hours.
Underwriting: ready in a flash
Cytora adds that its service can now support the needs of underwriters even more effectively, offering them decision-ready risks, digitised and evaluated against appetite and priority scores.
Per the partnership, these data-gathered risks are passed onto hyperexponential’s pricing decision intelligence platform, hx Renew.
Leveraging a fully digitised evaluation risk service, hx Renew does not need data to be rekeyed into its server, with risks made immediately available for underwriting and further analysis.
Augmentation and automation reach the 'unachievable'
Cytora believes its partnership with hx Renew is making the previously unachievable a reality; its COO Juan de Castro says: “With this new integration insurers now have seamless access to hyperexponential’s real-time pricing data within Cytora’s data ecosystem.
“This allows insurers to operationalise at the flip of a switch hyperexponential’s data within their underwriting workflows, driving superior evaluation and quotation of a risk.”
CRO at hyperexponential Richard Gunn adds: “Our mission at hyperexponential is to accelerate and enrich the critical pricing decisions faced by professionals across the insurance sector.
“This partnership with a like-minded team at Cytora paves the way for the speed and efficiency which we have always believed is at the heart of successful modern insurance businesses. We look forward to working with our customers so they can benefit from this exciting new collaboration.”
What’s more, the partnership between Cytora and hyperexponential builds on a growing ecosystem of insights and data integrated into both Cytora and the hx Renew platform. This has helped the partners to curate their new integrated end-to-end customer journey, strengthening the partners’ entire value chain.
As part of the customer journey, Cytora already lets customers benefit from having embedded price adequacy in their priority rules, as well as fuelling straight-through-processing risk streams with accurate pricing data and reduced administration costs.
