In a move to revolutionise the insurance industry’s approach to natural catastrophe risk assessment, Cytora, a pioneering digital risk processing platform, has joined forces with Reask, a leading provider of advanced natural catastrophe risk analytics.
This strategic partnership aims to seamlessly integrate Reask’s cutting-edge natural catastrophe risk analytics APIs into the Cytora platform, empowering insurers with unparalleled capabilities to effectively evaluate and manage the risks posed by natural disasters.
Reask’s specialised natural catastrophe analytics APIs bring forth an array of comprehensive insights, with a specific focus on global tropical cyclone risk.
By integrating these robust risk analytics APIs into the Cytora platform, insurers gain access to intricate risk assessments and hazard data, enabling them to make well-informed decisions during the underwriting process and significantly enhancing their overall risk management strategies.
The modern world is experiencing an alarming increase in the frequency and severity of natural catastrophe events. In this challenging landscape, accurate and timely risk analytics hold paramount importance for insurers seeking to assess, mitigate, and manage potential losses.
The integration of Reask’s natural catastrophe risk analytics APIs into the Cytora platform equips insurers with invaluable insights, elevating the accuracy of risk assessments and optimising their underwriting approaches.
This groundbreaking partnership empowers insurers to harness the potential of advanced analytics and machine learning to streamline their underwriting operations, bolster risk management practices, and make judicious, data-driven choices when confronting the impacts of natural catastrophes.
Juan de Castro, COO of Cytora, expressed his enthusiasm about the collaboration, stating, “We are thrilled to partner with Reask to provide our customers with advanced natural catastrophe risk analytics. By integrating Reask’s risk analytics APIs into the Cytora platform, insurers can access robust risk assessments and hazard data, enabling them to make more accurate underwriting decisions and better manage natural catastrophe risks.”
Jamie Rodney, CEO of Reask, underscored the partnership’s significance, remarking, “We have witnessed record breaking extreme weather events become an all-too-common headline. Thanks to our partnership with Cytora insurers will be able to directly integrate Reask’s novel tropical cyclone data into their underwriting decision-making process. Embedding datasets that reflect how common these headlines occur means that decisions are made in line with the state of the climate.”
