Cytora and JETNET hope their collaboration will provide insurers with comprehensive global aviation risk insights.
JETNET’s aviation intelligence APIs provide data and insights on aircraft, fleets, market trends and also historical aviation information.
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However, through this collaboration, insurers utilising Cytora’s risk processing platform will have seamless access to the JETNET APIs, allowing them to gain a deeper understanding of global aviation risks. It should also enhance their underwriting processes.
In addition, by merging JETNET and Cytora, insurance underwriters will have access to real-time data on aircraft valuations, market trends, historical data, and more.
Juan de Castro, COO of Cytora, said: “We are excited to partner with JETNET to deliver comprehensive global aviation risk insights to our customers. The integration of JETNET’s aviation intelligence APIs into our platform will enable insurers to make data-driven decisions, improve their underwriting processes, and effectively manage aviation risks.”
Josh Baird, VP of corporate development of JETNET, added: “JETNET is thrilled to work with Cytora to bring to the market a cutting-edge solution to insurers. This marks the latest example of JETNET continuing to advance aviation intelligence.”
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By GlobalDataCytora and pricing decision firm hyperexponential have also partnered to aid insurers with risk.
The platform partnership between Cytora and hyperexponential reduces the time for underwriters to make choices on risks they want to write. In addition, it reduces quote turnaround time to minutes not hours.
Underwriters will receive decision-ready risks that have been digitised as well as evaluated against appetite and priority score by Cytora. Afterwards, these risks are then passed seamlessly into hyperexponential’s pricing decision intelligence platform, hx Renew, at the click of a button.
Furthermore, the fully digitised and evaluated risk is priced by hx Renew without the need to rekey any data. The risk is also made available for underwriting and further analysis.
This partnership is built is a growing ecosystem of data and insight provided by the two platforms.
