LexisNexis Risk Solutions and Cytora have formed what they describe as a strategic relationship to embed data and analytics into digital underwriting workflows for US commercial insurers.
In the initial stage, the integration will introduce US commercial firmographic data through LexisNexis Commercial Data Prefill, with further product connections planned for later.
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As part of the agreement, LexisNexis Risk Solutions’ data and analytics capabilities will be incorporated into Cytora’s platform.
According to the press statement, possible applications include submission triage and entity resolution.
LexisNexis said the integration is intended to help insurers enhance how they assess, predict and manage risk.
The combined capability is expected to support a more centralised and automated underwriting approach, with the aim of improving insight into risk selection.
Insurers using Cytora’s configurable, large language model-powered platform will be able to apply LexisNexis Risk Solutions data in line with their own underwriting needs.
LexisNexis Risk Solutions US commercial and life insurance senior vice-president and general manager David Zona said: “Working with Cytora represents a strategic leap forward, specifically benefitting US commercial insurers.
“By combining cutting-edge AI with unparalleled data intelligence, we can transform underwriting from a reactive process into a proactive, insight-driven discipline and at the same time deliver innovation at scale through precision risk assessment, while reducing friction.”
The arrangement is also intended to enrich submissions automatically with external data, reducing manual processing and enabling faster risk decisions.
Cytora’s platform is used to digitise incoming risks, supplement them with external data, evaluate them against configured rules and route them either for automated handling or manual underwriting.
LexisNexis Risk Solutions provides data analytics and proprietary linking technology for business entity resolution, supporting risk assessment across the policy life cycle, including new business, claims and renewals.
Cytora COO Juan de Castro added: “Together, we can enable underwriters to operate on a more complete, tailored view of the client risk profile, helping to optimise operational efficiency and drive profitability across all lines of business.”
Earlier this month, Cytora broadened its engagement with Arch Insurance to cover the insurer’s London Market operations.
That expansion brought Cytora’s AI-based risk processing technology into Arch’s handling of complex commercial risks, focusing on digitising submission intake and enriching data.
