Cytora, a leading digital risk processing platform, has formed a strategic partnership with Xapien, an innovative company known for its AI-powered due diligence capabilities.
This collaboration is designed to provide commercial insurers with a seamless, automated due diligence process, enhancing accuracy in underwriting and improving fraud detection capabilities.
Cytora operates an advanced platform that digitizes and processes insurance risks, enhancing the efficiency and accuracy of commercial insurers. The platform augments risks with additional data sources and evaluates them against multiple rules to streamline underwriting workflows.
On the other hand, Xapien specializes in AI-powered due diligence, automating the analysis of vast amounts of data from diverse sources such as online media and corporate records, supporting multiple languages. This capability dramatically reduces the time required for due diligence tasks.
The integration of Xapien’s technology into Cytora’s platform allows underwriters to access due diligence tools directly, eliminating the need for manual data checks. This integration not only speeds up the underwriting process but also enables insurers to operationalize data more effectively across different business lines and improve their market responsiveness.
Xapien’s technology is already trusted by prestigious clients including Dow Jones Risk & Compliance and The Museum of London. Cytora continues to expand its insurance data ecosystem, securing multiple integrations that reinforce its mission to provide comprehensive data solutions to the insurance industry.
Juan de Castro, COO at Cytora, commented, “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 write. 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, remarked, “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 are able to 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.”
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