Allianz partners Cytora for AI-based risk processing

Allianz has announced an agreement with InsurTech firm Cytora for AI-based digital risk processing solutions.

The partnership comes as part of Allianz’s plans to build a scalable and data-driven commercial insurance business model.

Cytora’s AI-based digital risk processing technology will be used to increase the efficiency and effectiveness of Allianz’s underwriting process, thereby enabling better customer service, the companies said.

Commencing on the move, Jörg Hipp, head of business transformation in Allianz SE’s Global Commercial Group Center said: “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.”

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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