Richard Hartley, CEO: Cytora: Decision ready risk - the future of commercial insurance (299)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 21 April 2024

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

From episodes 68, 227 and now episode 299, InsTech has consistently caught up with Cytora and followed the company’s growth and expansion. Alongside Google, Cytora supported InsTech’s March event in New York, after which Matthew Grant caught up with Richard Hartley on the company’s growth, entering the US market and its impact on the insurance industry. Cytora focuses on data integration, partnering with numerous data providers to enhance the underwriter's workflow and ultimately transform manual insurance processes into digital ones. Key talking points include: Developing the vision as the technology develops Digitizing risk - rendering it decision read Collating the team - collaging different backgrounds in Cytora Case studies - real-life examples of how Cytora helps carriers including Markel and Allianz Heterogenous data in a homogenous view - ecosystems Judgement and data - subjectivity If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us [email protected] Continuing Professional Development This InsTech Podcast Episode is accredited by the Chartered Insurance Institute (CII). By listening, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe how by partnering with different data sources, a platform provider can help an underwriter understand their data in a simpler, unified way Define what digitization of the insurance industry is and what it could look like Identify how platforms can help underwriters save time and focus on what they do best If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 299 page of the InsTech website or email [email protected] to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

Transcript

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0:00.0	digitization is far beyond extraction of information and if you look at a decision-ready risk for a
0:05.4	property underwriter a third of the data comes from internal data around a third comes from external
0:10.3	data and the remaining information comes from the submission so you have to ultimately orchestrate
0:15.1	those different data sources into a single view for the underwriter if you only focus on one of
0:20.6	those sources,
0:21.6	you are not going to create value.
0:23.6	So the reason we've created the data ecosystem
0:25.6	is to make it operationally,
0:27.6	incredibly easy for ensure to start using data sources.
0:35.6	Good morning, good evening and welcome, Matthew Grant here, and I'm back today with an old
0:44.6	friend, prior podcast guest, and as you'll hear, someone leading a company, I do have a rather
0:49.7	special interest in. Now, we're delighted to have Saitora support for many things, including
0:54.4	our recent event in New York, and that, along with our live and digital events today,
0:58.6	are proving that insurers are taking more and more interest in what is happening with technology
1:01.9	and innovation. You can find out more about what we are doing across multiple areas,
1:06.0	including all that we've done with Saitora on our website, www.insdeck.com. But for now, on with the show.
1:17.4	Richard, it's great to be talking to you again. We've known each other a long time,
1:21.4	but you've now moved to New York since we first called out. How's that going?
1:25.4	Yeah, it's been an exciting time. I always think you
1:28.2	move to a new city. You feel super energized because it's a new context. And for me, I think the
1:33.4	aspiration was to fully move to New York. I've got halfway there because I'm still kind of coming
1:37.6	back every week or so. Now, it's great to see what you've been expanding into the US and we'll talk a bit more about at a minute. So let's just quickly do an overview for Saitora.
	...

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