The partnership will allow commercial insurance underwriters to instantly gain access to Xapien’s AI due diligence tool through Cytora’s risk processing platform. By integrating directly into Cytora, underwriters will no longer need to manually check multiple data sources for potential dangers.
Xapien automatically reads and analyses information such as online media, corporate records, and structured screening data in any language. Consequently, the time required for due diligence can be reduced from hours or days to minutes. Access to rapid, automated due diligence reports on all their policyholders will help fight commercial claims fraud and facilitate more informed forecasting.
The partnership will further enable insurers to leverage data more broadly across multiple lines of business and more effectively through their multi-step workflows from submission to quote. This will allow insurers to unify their risk data, digitise their core workflows, make better-informed decisions on risk, and improve speed to market. The result should be faster, more efficient, and more accurate processes, enhancing the experience for both insurers and their clients.
Xapien’s clients include Dow Jones Risk & Compliance, The Museum of London, Griffin, and Zurich.
This partnership is the latest in a series of integrations Cytora has secured as part of its mission to build one of the most comprehensive insurance data ecosystems in the world.
Juan de Castro, COO at Cytora, said: “Cytora’s commitment to innovation aligns perfectly with our integration with Xapien. By bringing Xapien’s AI due diligence tool into our platform, we’re equipping insurers with the tools they need to make more informed decisions about the risks they underwrite. This collaboration strengthens our ongoing efforts to provide insurers with the most advanced solutions, ultimately enhancing their ability to manage risks effectively.”
Dan Secretan, Co-Founder and COO at Xapien, said: “Partnering with Cytora is a milestone for us as we continue to establish our presence in the insurance sector. Underwriters with access to rapid, automated due diligence reports on potential policyholders can make more informed, risk-based decisions, leading to more accurate pricing. We are delighted to bring this holistic view of any company or individual to Cytora’s impressive client base.”
