Cytora, a digital danger processing platform, has teamed up with AISIX Options, a supplier of wildfire local weather knowledge, to combine superior wildfire intelligence into its platform.
This collaboration permits business insurers to entry present wildfire danger knowledge, addressing local weather change considerations and new laws that require disclosure of local weather danger publicity.
AISIX’s Wildfire 3.0 fashions ship danger data based mostly on geographic knowledge and historic fireplace exercise.
Supplied by an utility programming interface (API), the info allows real-time integration into underwriting techniques and complies with local weather disclosure frameworks like TCFD and ISSB.
This equips underwriters with insights to evaluate dangers for particular person submissions and portfolios, supporting sooner and clearer underwriting choices.
Cytora COO Juan de Castro stated: “Local weather danger components are more and more changing into essential elements in insurance coverage underwriting. By means of our partnership with Aisix, we’re making it simpler for insurers to embed the newest wildfire insights instantly into their workflows, empowering smarter and sooner choices with entry to probably the most superior knowledge and insights obtainable.”
The partnership goals to offer underwriters with up-to-date insights for each particular person insurance coverage submissions and full portfolios.
Aisix Options CEO Mihalis Belantis acknowledged: “This partnership with Cytora will give insurers the readability and foresight wanted to make knowledgeable, strategic and sustainable underwriting choices. As wildfire occasions enhance in frequency and depth, the flexibility to shortly assess danger on the asset degree is significant.
“We’re delighted to be working collectively in serving to insurers construct resilience in an more and more complicated danger setting.”
Cytora not too long ago collaborated with Chubb and launched a brand new model of its platform that includes agentic AI to reinforce danger evaluation and underwriting processes.
Final month, Cytora partnered with Vāyuh, an AI-powered climate analytics firm, to enhance property insurance coverage underwriting with superior knowledge and know-how.
