Cytora, a digital risk processing platform, and Reask, a provider of advanced natural catastrophe risk analytics, have entered a strategic partnership.
The collaborative effort aims to incorporate Reask’s state-of-the-art natural catastrophe risk analytics APIs into Cytora’s platform, thus arming insurers with unmatched tools to assess and manage the threats natural disasters pose.
Cytora has made its mark as an innovative digital risk processing platform, ushering in modern methods of evaluating risks in the insurance realm. On the other hand, Reask is renowned for its dedicated natural catastrophe analytics APIs that present a wide spectrum of insights, emphasising global tropical cyclone risk evaluation.
Merging these potent risk analytics APIs with Cytora’s platform offers insurers a gateway to intricate risk evaluations and hazard information. This integration aids them in making discerning decisions during underwriting, thereby refining their overarching risk management plans. In a world witnessing a stark rise in natural catastrophe occurrences, this partnership proves timely and pivotal.
It’s evident that the frequency and intensity of natural disasters are escalating globally. Prompt and precise risk analytics are thus critical for insurers aiming to gauge, offset, and oversee potential setbacks. Introducing Reask’s APIs into Cytora’s platform furnishes insurers with priceless insights, improving risk assessment precision and refining their underwriting strategies.
Cytora COO Juan de Castro said, “We are thrilled to partner with Reask to provide our customers with advanced natural catastrophe risk analytics. By integrating Reask’s risk analytics APIs into the Cytora platform, insurers can access robust risk assessments and hazard data, enabling them to make more accurate underwriting decisions and better manage natural catastrophe risks.”
Reask CEO Jamie Rodney said, “We have witnessed record breaking extreme weather events become an all-too-common headline. Thanks to our partnership with Cytora insurers will be able to directly integrate Reask’s novel tropical cyclone data into their underwriting decision-making process. Embedding datasets that reflect how common these headlines occur means that decisions are made in line with the state of the climate.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global