Arch Insurance has been investing in digital transformation, seeking to make the risk intake process more efficient so that a greater volume of risks is onboarded and chosen. By streamlining its risk intake, Arch is able to provide a better and faster service for brokers and clients, while also giving underwriters more visibility for strategic portfolio management.
Arch chose Cytora as its partner due to Cytora’s fully adaptable platform, which allows Arch to incorporate unique requirements and optimise insurance workflows through AI and automation. Arch Insurance International has also applied Cytora’s risk processing platform to digitise risks in the UK.
The announcement comes after a period of substantial growth for Cytora in the North American market and the launch of the latest tool in its platform, which applies Large Language Models (LLMs) alongside Cytora’s proprietary AI, providing a new level of accuracy and efficiency to risk assessment and underwriting processes.
Juan de Castro, COO at Cytora, commented: “The global insurance industry is undergoing a period of rapid digital transformation fuelled by progressive companies like Arch. Our work in the UK with Arch Insurance International showcases the substantial value that can be created by optimising insurance workflows. Now, thanks to the scalability of the Cytora platform, we will be able to quickly bring these enhanced processes to Arch Insurance in North America.”
Caolan Kovach-Orr, AVP of Intelligent Data Automation for Arch, said: “This partnership is part of our strategic investment in digital capabilities to help Arch deliver exceptional underwriting and profitable growth. Cytora will help us streamline key workflows, ensure more consistent execution, and deliver a world-class experience to our brokers and clients.”
