​Cytora partners with AI property insights firm to boost insurers’ risk assessment capabilities

Insurtech Cytora has teamed up with Cape Analytics to enhance insurers’ capabilities over assessing and managing commercial property risks, a statement released today (1 September 2023) said.

Cape Analytics is a software firm that provides aritifical intelligence-powered property insights to the insurance sector.

The deal will make its application programming interfaces (APIs) available on the Cytora platform.

The insurtech said the integration will help insurers streamline underwriting processes, bolster risk management and make data-driven decisions for commercial property risks.

”By integrating Cape Analytics’ commercial property data APIs into our platform, we’re equipping insurers with the tools they need to make more informed decisions about commercial property risks,” Juan de Castro, chief operating officer of Cytora, said.

”This collaboration strengthens our ongoing efforts to provide insurers with the most advanced solutions, ultimately enhancing their ability to manage risks effectively.” 

Modernisation

Cape Analytics’ APIs provide insights into a range of property attributes, including loss-predictive building characteristics, roof condition and historical data.

Busy Cummings, chief revenue officer at Cape Analytics, said the partnership with Cytora would “modernise commercial property carrier workflows”.

“Decisions involving commercial property risk are often complex, making modernisation and automation a challenge,” he added.

“We’re excited to see Cytora continue to push the envelope of innovation in the commercial property insurance space and look forward to supporting carriers through this direct integration.”