Cytora has announced an addition to its global advisory board as commercial insurance veteran James Platt joins.
Adding Platt to the board is aimed at supporting Cytora and its growth.
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Formerly Group COO and chief digital officer of Aon, James Platt has had a broad and successful career in the insurance industry from leading the big data and advanced analytics practice at BCG before establishing the group wide digitisation initiative at Aon.
Platt said: “I have been genuinely blown away by Cytora’s capabilities and use of AI. I am convinced Cytora can help the insurance industry to digitise risk, accelerate competitive differentiation, reduce costs and ultimately enable a step change in client, broker and insurer experience, through better data, new insights and accelerated processing.”
Richard Hartley, CEO of Cytora, added: “I’d like to welcome James to the advisory board. The transformative opportunity presented by artificial intelligence is a top board level priority and it is a complex area for insurance companies to successfully harness at scale to achieve enduring outperformance. James will benefit our team, partners and clients with his deep expertise across the risk and insurance value chain.”
Cytora has also partnered with cybersecurity firm DynaRisk.
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By GlobalDataThe collaboration between Cytora and DynaRisk means insurers can use DynaRisk’s suite of cyber risk assessment data on the Cytora platform.
Therefore, underwriters can immediately take into account a number of data points regarding cyber risk when devising insurance quotes. This results in more comprehensive risk evaluation and better decision making.
DynaRisk tools include “Leaked Data” which determines whether a person or business has has its data stolen, “Hacker Chatter” which can identify topics of discussion on the dark web, “Vulnerability Check”, and “Open Service Check”.
