Applied Systems acquires Cytora

Applied Systems has acquired Cytora , a UK-based digital risk processing platform. Cytora’s AI-powered technology turns structured and unstructured data into decision-ready transactions, helping insurers, MGAs, and brokers digitize intake across the policy lifecycle—from submissions and endorsements to renewals and claims.

Founded in 2014, Cytora has raised $41.4 million. It reported a loss of £2.6 million for the year ending March 31, 2024, widening from a £1.9 million loss the year prior. The company ended the year with accumulated losses of £24.1 million and cash reserves of £3.4 million, down from £4.6 million in 2023. Total equity shifted from a positive £1 million in 2023 to a negative £1.6 million in 2024.

Customers include Arch, Chubb, and Markel.

This acquisition follows Applied’s $300 million purchase of Planck , another AI-based data platform for commercial insurance, in July 2024.

“At Applied, we are committed to being the leading specialist in insurance AI solutions for both agencies and carriers. Cytora is the ultimate example of insurance-focused AI. Their commitment to leveraging advanced AI capabilities to accelerate and streamline the digitization, exchange, and prioritization of risk data between agents and carriers fits perfectly with our vision of the Digital Roundtrip of Insurance. Our collective technology assets, insurance domain expertise, and vast insurance data sets – combined with the power of AI – will deliver speed, accuracy, and cost advantages across all the critical workflows involved in the insurance lifecycle. This move firmly establishes Applied as the leader in insurance AI.” – Taylor Rhodes, chief executive officer, Applied Systems.