Allianz SE has announced an agreement with London-based insurtech Cytora that will see the former integrate AI-based digital risk processing solutions into its commercial insurance business.
It’s hoped the move will improve Allianz’ margins by enabling better risk selection.
“This is great news for our customers, intermediaries and underwriters,” said Jörg Hipp, Head of Business Transformation in Allianz SE’s Global Commercial Group Center.
“With the new technology our underwriters can focus on the most value adding tasks. And our customers benefit from better service and a quicker turnaround.”
Richard Hartley, CEO of Cytora added, “We are excited to partner with Allianz who share our vision of digital risk processing.
“With the deployment of our platform, Allianz will accelerate their transformation enabling them to provide scalable, digital and data driven commercial insurance.”