Cytora and Pinpoint Predictive Forge Innovative Partnership to Revolutionize SME and Commercial Auto Risk Assessment
You can read Cytora’s Announcement here.
New York, US; 14th December 2023: Cytora, the leading digital risk processing platform, and Pinpoint Predictive, a cutting-edge insurtech that is fast-tracking loss ratio improvements for P&C insurers, have announced a partnership to transform how SMEs and commercial auto risk is assessed and segmented.
Pinpoint’s predictions and risk scores are now being used to enhance the underwriting process within Cytora’s digital risk processing platform by providing US-based SMEs with fewer than 20 employees and commercial auto insurance underwriters a way to segment risk earlier and faster than ever.
What makes Pinpoint unique in the market is that they focus on the profile of the business owner rather than the business itself, providing underwriters with deeper insights to make informed decisions on risk.
Cytora’s platform enables insurers to operationalise data across their lines of business. This includes risk clearance, onboarding and triage. Data, as well as predictive sources like Pinpoint Predictive, can be directly integrated into risk processing workflows. As a result, underwriters can make faster and better informed decisions from submission to quote, improve speed to market, and enhance the broker and client experience.
Juan de Castro, COO at Cytora, said: “We are committed to reshaping the underwriting processes within the insurance sector. Through our collaboration with Pinpoint and the incorporation of their loss predictions into our platform, we take a substantial stride towards realising this objective. This integration empowers insurers with a robust toolset to comprehend and oversee the risks associated with businesses, enabling them to elevate their decision-making capabilities and strengthen their competitive standing in the market.”
We are incredibly excited to partner with Cytora in support of their mission to “digitize” risk by integrating data points and predictions into their intake process, that will ultimately help their clients automate underwriter review and prioritize submissions that are within their risk appetite,” said Shannon Shallcross, Head of Client Services at Pinpoint Predictive. “We believe this partnership is another formidable movement toward helping insurers achieve profitability and growth by strategically using technology to better segment and categorize risk in the SME and commercial auto insurance underwriting space.”
About Cytora:
Cytora is the configurable platform that enables commercial insurers to process risks at greater efficiency and accuracy. Cytora digitizes every incoming risk, augments them with additional data sources, evaluates them against multiple rules, including appetite and priority rules, and routes them to downstream systems for automated or manual underwriting.
About Pinpoint:
Pinpoint Predictive provides P&C insurers the earliest and most accurate loss predictions and risk scores to fast-track profitable growth and improve loss ratios. Unlike traditional methods, Pinpoint’s platform leverages deep learning, proprietary behavioral economics data, and trillions of individual behavioral predictors to help insurers identify the risk costs associated with customers and prospects.
Insurtech 100 Awards 2022 | Insurtech Vanguard | AI Breakthrough Awards 2023 | Global Tech Awards 2023 – Category Winner for AI, AnalyticsTech and Insurtech | Insurance Awards 2023 – Category winner for Insurtech in World Finance Magazine
