The collaboration accelerates digital risk processing by integrating comprehensive data and analytics directly into AI-enabled digital underwriting workflows

Cytora and LexisNexis Risk Solutions have announced a strategic relationship to embed best-in-class data and advanced analytics from LexisNexis Risk Solutions directly into the Cytora platform to help U.S. commercial insurance companies scale their ability to assess, predict and manage risk.

For U.S. commercial insurers, a centralized and automated approach to underwriting can help deliver unparalleled insight into risk selection. Commercial insurers leveraging Cytora’s configurable, LLM-powered platform can tailor essential information from LexisNexis Risk Solutions to their own unique underwriting criteria, helping to enhance speed and accuracy in critical processes such as submission triage and entity resolution.

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This approach empowers commercial insurers to automatically enrich submissions with crucial external information, minimizing manual lookups and reducing friction across underwriting workflows. As a result of the collaboration, commercial insurers can substantially improve the speed of their risk decisioning.

Cytora’s platform digitizes each incoming risk, augments it with external data sources, evaluates it against configured rules and routes it for automated or manual underwriting. LexisNexis Risk Solutions brings industry-leading data analytics solutions to provide a more thorough picture of risk, as well as proprietary linking technology for individual business entity resolution, to help ensure that risk information is transformed into decision-ready assets across the entire policy lifecycle, from new business to claims and renewals. The incorporation of U.S. commercial business firmographics data via LexisNexis^® Commercial Data Prefill represents the first step in integrating additional LexisNexis Risk Solutions commercial insurance products into the Cytora platform.

Juan de Castro, COO at Cytora, said: “This collaboration marks a significant milestone in Cytora’s mission to build one of the world’s most comprehensive data ecosystems for insurers. LexisNexis Risk Solutions is renowned for providing essential information and advanced data analytics to the insurance industry. By integrating their robust risk data directly into our platform, we are providing our commercial insurance clients with the intelligence needed to accelerate their decision-making and enhance control over risk selection. Together, we can enable underwriters to operate on a more complete, tailored view of the client risk profile, helping to optimize operational efficiency and drive profitability across all lines of business.”

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David Zona, senior vice president and general manager, U.S. commercial and life insurance, LexisNexis Risk Solutions, said: “Working with Cytora represents a strategic leap forward, specifically benefitting U.S. 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. This empowers our mutual commercial insurer customers to help streamline critical processes, leverage sophisticated data analytics to best understand granular and book-of-business risk and accelerate their decision-making using highly automated workflows to drive sustainable growth.”