(Image source: InformData website.)
Cytora (London) has integrated InformData (Kennesaw, Ga.) people data into its digital risk processing platform for commercial insurers.
Juan de Castro, COO, Cytora.
The integration gives insurers using Cytora access to InformData’s verifiable people data within workflows for submissions, renewals, claims and mid-term adjustments, according to a joint statement from the companies.
Cytora says the integration supports its strategy of augmenting incoming risks with external data sources. The companies say adding people data to Cytora’s platform can help insurers improve underwriting, risk monitoring, fraud detection and compliance review.
The integration is also intended to support monitoring use cases, including visibility into enterprise risk and potential insider cyber risk.
“InformData provides a powerful way for commercial insurers to have a complete view of risk, extending beyond property and peril data to encompass the foundational element of people data,” comments Juan de Castro, COO, Cytora. “Integrating verifiable people data directly into our digital risk flows empowers faster, more accurate decisions while upholding the highest standards of compliance.”
Better Assessing the People behind Commercial Risk
Jackie Rousseau-Anderson, CRO, InformData.
InformData normalizes and governs data from fragmented sources including public records, court systems, licensing boards, traffic records and private data partnerships. The company says its data network helps businesses establish trust and reduce risk.
“The commercial insurance market demands speed and trust,” comments Jackie Rousseau-Anderson, CRO, InformData. “By embedding our verifiable people data into Cytora’s AI workflows, we are providing the trusted data layer that helps insurers better assess the people behind commercial risk.”
Cytora’s platform digitizes incoming commercial insurance risks, augments them with external data, evaluates them against rules and routes them to downstream systems for automated or manual underwriting.