- Allianz reports E2.6bn operating profit in second quarter-CEO Bate says "robust results"
- Hannover Re reports profit of E402m for the half year
- AIG reports second quarter results-$458m of estimated COVID-19 losses
- Insurance Europe publishes response to a call for evidence by the European Securities and Markets Authority (ESMA) on credit rating information and data
- Aon reports second quater financials
- Marsh & McLennan reports second quarter results
- Insurance Europe publishes an insight briefing about the European insurance industry’s views on artificial intelligence(AI) expired
- McKenzie Intelligence Services(MIS) awarded European Space Agency contract expired
- Access to insurance firmly on insurance brokers’ agenda says BIBA-Access to Insurance Committee(AIC) formed expired
- Brit indicates strong rate increases and premium growth in an unprecedented period defined by COVID-19 expired
- Hiscox reports half yearly position-$232m reserved for COVID-19 related claims expired
- Lloyd's appoints Spyropoulos as Country manager, Singapore and CEO, Lloyd’s Asia expired
12th February 2020
Cytora joins Duck Creek Technologies Partner Ecosystem programme
Duck Creek Technologies have announced that Cytora has joined its Partner Ecosystem programme. Through its Property API, Cytora can enable Duck Creek customers to improve the efficiency and accuracy of their underwriting, automatically enriching insurance submissions with property, location, and rating data from 50+ sources to enable fast, accurate risk assessment.
Duck Creek customers can now interface with Cytora’s Property API seamlessly in their underwriting process through an Anywhere Enabled Integration, available on the Duck Creek Content Exchange. The Property API automatically enriches insurance submissions with all of the information needed to underwrite in one API call, meaning underwriting teams no longer need to manually gather information to assess commercial risks.
For most insurers and MGAs, submission data received from brokers and insurers is often riddled with errors and missing values. This leads to inaccurate risk selection and inefficient processes.
With Cytora’s Property API, insurers can:
-Enhance risk differentiation and assess risk more accurately with data from 50+ sources
-Improve underwriting efficiency by automating data gathering and validation
-Provide a better customer experience by providing fairer pricing and passing savings back to their customers.
Bart Patrick, EMEA md, Duck Creek, comments“Assessing and pricing risk accurately is critical to insurers now more than ever. The volume of data involved inherently opens the door for error when manual processes are introduced, not to mention the disadvantage that the pace of work involved presents. Cytora offers an excellent solution that solves several complex problems at once; their Property API is a fantastic value-add for carriers, and Duck Creek is thrilled to welcome them into our rapidly-growing Partner Ecosystem.”
Richard Hartley, CEO, Cytora, added “We’re really excited to be partnering with Duck Creek, a company that similarly understands the impact innovative technology can have on the insurance industry. Insurers often receive incomplete information, which makes it difficult for them to assess risk quickly and accurately. With Cytora, Duck Creek customers can now automate repetitive manual processes and access high-quality data to assess risks more accurately.”
The Duck Creek Partner Ecosystem includes system integrators, consulting/advisory, and solution partners that offer a breadth and depth of complementary value-add solutions and services to extend the power of the Duck Creek Platform to joint customers, enabling them to more quickly and efficiently meet their business challenges.
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