Cytora and Hyperexponential partnership to bring faster, more informed underwriting decisions to commercial insurers

The partnership will integrate real-time commercial insurance pricing with digital risk flows, providing insurers with a more streamlined and informed understanding of risk. This is expected to lead to improved underwriting decisions and profitable growth.

The platform partnership will dramatically reduce the time for underwriters to assess risks and make decisions, slashing quote turnaround time from hours to just minutes. Underwriters will receive digitised and evaluated risks that have been assessed against appetite and priority scores by Cytora.

These risks will then seamlessly flow into Hyperexponential’s pricing decision intelligence platform, hx Renew. hx Renew will then price the fully digitised and evaluated risk without data rekeying, making the risk available for underwriting and further analysis before a quoting decision is made.

The partnership is expected to benefit both insurers and their customers, as it will lead to faster, more informed underwriting decisions and reduced administration costs.

In addition to the benefits mentioned above, the partnership will also strengthen the entire value chain by leveraging a growing ecosystem of pre-integrated data and insight providers on the Cytora and hx Renew platforms. This will enable an integrated end-to-end customer journey, further enhancing the capabilities and efficiency of the insurance industry.