The collaboration promises to empower property insurers with faster and more precise decision-making capabilities. Chimnie boasts one of the most extensive property datasets in the UK, encompassing detailed information on various aspects such as construction, physical attributes, valuation, risk factors, demographics, and environmental influences.
Through seamless integration with Cytora’s risk processing platform, Chimnie’s wealth of data will be readily accessible to property underwriters, facilitating comprehensive risk assessment and informed decision-making within digital workflows.
Chimnie’s datasets, underpinned by AI modeling, amalgamate information sourced from a diverse array of reputable outlets including HM Land Registry, Royal Mail, the NHS, Ordnance Survey, and the British Geological Survey.
This partnership represents the latest milestone in Cytora’s ongoing efforts to establish one of the most extensive data ecosystems for insurers worldwide. It follows a period of remarkable growth for Cytora, marked by significant collaborations such as the recent alliance with Chubb and the introduction of cutting-edge enhancements to its platform leveraging Large Language Models (LLMs) alongside proprietary AI technology. These innovations promise to elevate the accuracy and efficiency of risk assessment and underwriting processes to unprecedented levels.
Juan de Castro, COO at Cytora, said: “Cytora is on a mission to provide insurers with a range of best in class AI driven solutions powered by a world leading data ecosystem. Our partnership with Chimnie is a big step forward towards achieving this goal. Chimnie’s team have built the UK’s most comprehensive property dataset and, by integrating it into Cytora’s platform, underwriters can instantly leverage this critical information to make faster and more intelligent decisions.”
Tomás Arribas, CTO at Chimnie, said: “We are delighted to announce our strategic partnership with Cytora which will leverage Chimnie’s industry-leading geospatial and property data to enhance Cytora’s insurance risk assessment capabilities. Our comprehensive data will empower Cytora to streamline the validation of insurance submissions, perform in-depth evaluations of relevant risk parameters, and ultimately support insurers in making more accurate underwriting and pricing decisions and deliver long-term value to both Cytora and its customers.”
