Cytora, a digital risk processing platform, has entered into a partnership with a provider of property valuation solutions, e2Value, to give commercial underwriters new insights into risks by integrating e2Value’s data directly into Cytora’s risk processing platform.
The integration will enable commercial, agricultural, and residential property insurance underwriters to instantly gain access to scores of critical data points on buildings in the US, allowing them to accurately estimate rebuild costs through its patented web-based valuation system.
Juan de Castro, Chief Operating Officer, Cytora, said: “This is another great step on our expansion plan in the US. It is the latest in a series of partnerships with innovative US companies that is rapidly increasing our data ecosystem.
“e2Value has a very powerful solution which leverages an impressive amount of information to take a lot of the risk and complication out of property insurance.”
The valuation system also analyzes a huge range of data points including the age, height, occupancy type, use, number of floors, location, structural detail, and safety features of buildings. Additionally, it has detailed information on important contributing factors to a property’s valuation such as local wages and amenities.
The partnership will enable insurers to operationalize data more broadly across their lines of business, including for risk clearance, onboarding and triage, and more effectively through their multi-step workflows from submission to quote. As a result, they will achieve faster and more accurate risk assessment while enhancing the experience for their clients.
The partnership is the latest in a series of integrations Cytora has secured as part of its mission to build one of the most comprehensive insurance data ecosystems in the world.
Skip Coan, Senior Vice President, e2Value, commented, “We’ve watched Cytora for a while and are thrilled to offer their ecosystem our property solutions with their move to the US.
“A key to great underwriting is actionable information. Cytora offers a terrific platform for insurers to consume data for better decisions. We see it as another way to offer great solutions for great companies.”
