Cytora partners with Moody’s RMS

Digital risk processing platform Cytora has partnered with global catastrophe risk modeling and solutions company Moody’s RMS.

The integration will enable P&C underwriters to gain insights into climate and natural disaster risk. Moody’s RMS Location Intelligence API provides catastrophe peril insights in over 100 countries and will be integrated directly into Cytora’s risk processing platform.

By integrating Moody’s RMS data into Cytora’s platform, insurers will be able to operationalize data more broadly across their lines of business, (including for risk clearance, onboarding and triage) and more effectively through their multi-step workflows from submission to quote. This allows insurers to unify their risk data, digitize their core workflows and make better-informed decisions on risk and improve speed to market.

“Natural and manmade catastrophes, influenced by a changing climate, are bringing a huge range of difficult challenges to the insurance industry that are only going to grow. Unchecked, customers face soaring reinsurance costs and even the prospect of becoming uninsurable. The insurtech industry can play a vital role in helping insurers overcome these challenges.” – Richard Hartley, CEO and co-Founder of Cytora.

“The changing catastrophe risk landscape means it’s more important than ever for insurers to accurately assess the impact of catastrophe risk as part of the risk selection and pricing process. By leveraging the same rich science that underpins our probabilistic models, Location Intelligence ensures that quality analytics are being used early in the underwriting process. The partnership with Cytora provides an exciting opportunity to combine advances in technology with Moody’s RMS’ catastrophe model science. Together these solutions can improve both underwriting productivity and performance.” – Michael Richitelli, Managing Director – Global Insurance Sales at Moodys.