Monday, May 27, 2024

Cytora and Chimnie partner on AI-powered risk assessment for home insurance

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Cytora has partnered with Chimnie to incorporate AI-powered property data into its risk-processing platform for the home insurance sector.

Chimnie’s datasets, powered by AI modelling, combine information from a large range of sources including HM Land Registry, Royal Mail, NHS, Ordnance Survey and British Geological Survey.

By integrating this data into Cytora’s platform, underwriters can incorporate these insights into their workflows, facilitating risk assessment.

This partnership marks another step for Cytora in building a comprehensive data ecosystem for the insurance industry, following its collaboration with Chubb and the integration of Large Language Models into its platform.

Juan de Castro, chief operations officer at Cytora, emphasises: “Cytora is on a mission to provide insurers with a range of AI-driven solutions powered by a world leading data ecosystem. Our partnership with Chimnie is a big step forward towards achieving this goal.

By integrating Chimnie’s property dataset into Cytora’s platform, underwriters can instantly leverage this critical information to make faster and more intelligent decisions.”

Tomás Arribas, chief technology officer at Chimnie, states: “Our strategic partnership with Cytora will leverage Chimnie’s geospatial and property data to enhance Cytora’s insurance risk assessment capabilities.

Our comprehensive data will empower Cytora to streamline the validation of insurance submissions, perform in-depth evaluations of relevant risk parameters and ultimately support insurers in making more accurate underwriting and pricing decisions.”

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