Allianz partners with AI insurtech Cytora to enhance commercial insurance business
Allianz has partnered with AI-powered insurtech Cytora to help build a “scalable, digital and data-driven” commercial insurance business model.
The insurer will implement Cytora’s artificial intelligence (AI) risk processing tool to enhance its commercial insurance business.
The partnership will allow for a deeper understanding of risks and benefit Allianz by improving margins through better risk selection. It will help increase the efficiency and effectiveness of underwriting, enabling better customer service.
“This is great news for our customers, intermediaries and underwriters. With the new technology our underwriters can focus on the most value adding tasks. And our customers benefit from better service and a quicker turnaround,” said Jörg Hipp, head of business transformation in Allianz SE’s Global Commercial Group Center.
Richard Hartley, CEO of Cytora, commented: “We are excited to partner with Allianz who share our vision of digital risk processing. With the deployment of our platform across the group, Allianz will accelerate their transformation enabling them to provide scalable, digital and data driven commercial insurance.”
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