Cytora, Altitude Intelligence partner on geospatial underwriting data

UK-based digital risk processing platform Cytora has recently announced a strategic partnership with Altitude Intelligence. This collaboration aims to revolutionize insurance underwriting processes by incorporating geospatial and climate risk intelligence directly into the workflow.

Under this agreement, Altitude Intelligence’s advanced geospatial and multi-source fusion data will be seamlessly integrated into Cytora’s platform. This integration will enable commercial insurers to automatically enrich submissions with location-specific and climate-related insights during the underwriting stage.

By leveraging open-source intelligence and detailed geospatial analysis, insurers can now streamline their processes and move away from manual location research. The partnership between Cytora and Altitude Intelligence will consolidate fragmented submission data into a comprehensive picture of physical risk exposure through automated data inputs.

Juan de Castro, Cytora’s chief operating officer, emphasized the importance of precise geospatial context in modern property underwriting. He stated, “Our partnership with Altitude Intelligence brings a sophisticated layer of multi-source fusion and geospatial data directly into the risk processing workflow.”

This collaboration will empower underwriters to visualize and quantify climate and physical risks associated with individual assets, aiding in pricing and capacity decisions with real-time intelligence. The integration of Cytora’s generative AI-powered risk processing with Altitude Intelligence’s Intelligence-as-a-Service model will simplify the enrichment phase of underwriting, reduce decision cycles, and enhance portfolio resilience against climate-related threats.

As part of its broader strategy to enhance its data ecosystem for insurers, Cytora continues to forge partnerships with industry leaders. Altitude Intelligence analytics head Santiago Fisher highlighted the significance of integrating specialized geospatial and multi-source capabilities into the Cytora platform. He mentioned, “We are ensuring that commercial insurers have seamless access to the actionable insights they need to navigate an increasingly complex risk landscape.”

This partnership follows Cytora’s acquisition by Applied Systems last September, further solidifying its position in the digital insurance landscape. Additionally, earlier this month, Cytora collaborated with Climatig to integrate climate risk analysis tools into its platform, offering users access to crucial climate data for evaluating exposure at asset and portfolio levels.

The innovative solutions provided by Cytora and Altitude Intelligence underscore the industry’s commitment to leveraging technology and data to enhance risk assessment and decision-making processes in the insurance sector. By blending cutting-edge technologies with industry expertise, these partnerships are poised to drive significant advancements in the field of insurance underwriting.