Cytora and LexisNexis Partner for Data-Driven Underwriting

Commercial insurance automation continues on an upward trajectory as AI adoption rates accelerate.

Cytora, the digital underwriting platform, announces a strategic relationship with LexisNexis Risk Solutions. 

The collaboration aims to embed advanced analytics and high-fidelity data directly into the Cytora ecosystem, specifically targeting the US commercial insurance market to improve how firms assess and manage risk.

For many commercial insurers, the traditional underwriting process remains bogged down by manual lookups and fragmented data sources. 

Through the integration of LexisNexis Risk Solutions’ data into Cytora’s LLM-powered platform, insurers can now automate the enrichment of submissions. 

This provides a centralised approach to risk selection, allowing firms to align external data points with their specific underwriting appetite.

Precision at scale

The integration focuses on enhancing the speed and accuracy of submission triage and entity resolution. By using these tools, insurers can reduce the friction typically found in underwriting workflows. 

Cytora’s platform functions by digitising every incoming risk, which is then augmented with external data and evaluated against pre-configured rules. 

This allows for a seamless routing process where risks are either handled through automated paths or sent for manual review.

LexisNexis Risk Solutions contributes its proprietary linking technology and industry-leading analytics to the partnership. 

This ensures that business entity resolution is precise, transforming raw risk information into assets that are ready for decision-making across the entire policy lifecycle – from the initial new business application through to claims and renewals.

Juan de Castro, COO at Cytora, says: “This collaboration marks a significant milestone in Cytora’s mission to build one of the world’s most comprehensive data ecosystems for insurers. 

“LexisNexis Risk Solutions is renowned for providing essential information and advanced data analytics to the insurance industry. By integrating their robust risk data directly into our platform, we are providing our commercial insurance clients with the intelligence needed to accelerate their decision-making and enhance control over risk selection. 

“Together, we can enable underwriters to operate on a more complete, tailored view of the client risk profile, helping to optimise operational efficiency and drive profitability across all lines of business.”

By removing the need for manual data gathering, underwriters can focus on higher-value tasks and more complex risk assessments.

Accelerating decision-making

The first phase of this integration involves the incorporation of US commercial business firmographics data via LexisNexis Commercial Data Prefill. 

This move represents the foundational step in a broader plan to integrate additional commercial insurance products from LexisNexis Risk Solutions into the Cytora environment.

David Zona, Senior Vice President and General Manager, US Commercial and Life Insurance, LexisNexis Risk Solutions, notes: “Working with Cytora represents a strategic leap forward, specifically benefitting US commercial insurers. 

“By combining cutting-edge AI with unparalleled data intelligence, we can transform underwriting from a reactive process into a proactive, insight-driven discipline and at the same time deliver innovation at scale through precision risk assessment, while reducing friction. 

“This empowers our mutual commercial insurer customers to help streamline critical processes, leverage sophisticated data analytics to best understand granular and book-of-business risk and accelerate their decision-making using highly automated workflows to drive sustainable growth.”

The combination of AI and data intelligence allows for a more granular understanding of both individual risks and broader books of business. Through these automated workflows, the partnership aims to provide the infrastructure necessary for sustainable growth in an increasingly data-centric market.