Beazley, a leading global specialist insurer, has partnered with insurtech Cytora to automate risk processing and accelerate profitable growth
By using the Cytora Platform, Beazley will streamline its global risk intake, reduce manual processes and uplift straight-through-processing. Not only will this lead to better, faster service for brokers and clients, it will also reduce costs and accelerate Beazley’s expansion plans in North America and European markets.
Cytora enables risks to be digitally processed, maximising automation levels and deliver enhanced control over risk selection. With the Cytora Platform risk submissions are digitised, consistently evaluated using internal and external data sources and automatically processed for underwriting decision making. The announcement with Beazley is the latest in a number of recent major milestones for Cytora, including partnerships with Allianz, Markel and Ecclesiastical.
Ian Fantozzi, CEO Beazley Digital at Beazley said: “We are looking to technology to make it faster and simpler for brokers to access our products. Cytora will accelerate our ability to flexibly serve brokers across different underwriting channels, reduce referrals and enable faster turnaround times.
Richard Hartley, CEO of Cytora, said:
“We are excited to be partnering with Beazley as it group seeks to underpin its underwriting service with our leading risk processing platform. With the help of our technology Beazley will be able to automatically process submitted risks, facilitating faster placements.”
Troy Dehmann, COO at Beazley said: “We are investing in digital capabilities to unlock scalable growth. Cytora enable us to streamline key workflows enhancing efficiency and effectiveness and further developing how we use data to drive decision making across the group and accelerating our profitable growth.”
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