LexisNexis and Cytora Partner to Enhance Digital Underwriting

LexisNexis Risk Solutions and Cytora have announced a strategic partnership designed to enhance digital underwriting workflows for U.S. commercial insurers. The collaboration will initially integrate U.S. commercial firmographic data through LexisNexis Commercial Data Prefill. This integration aims to streamline underwriting processes with plans for additional product enhancements in the future.

Under the agreement, LexisNexis's advanced data analytics will integrate into Cytora’s platform, empowering insurers to assess and manage risk more effectively. This integration provides capabilities for submission triage and entity resolution, fostering a centralized underwriting approach to enhance risk selection insights. The platform supports a proactive, insight-driven underwriting process, significantly improving risk assessment efficiency.

Cytora’s system enables insurers to utilize enriched data tailored to specific underwriting needs. According to David Zona, Senior Vice President at LexisNexis Risk Solutions, the partnership marks a transformative step for U.S. commercial insurers by automating various underwriting tasks and enriching submissions with external data. This streamlined approach also reduces processing times and enhances operational efficiency.

Cytora digitizes incoming risk data, combines it with external information, and evaluates it against established criteria for either automated or manual processing. LexisNexis Risk Solutions enhances the underwriting cycle through robust data analytics and entity resolution technology, improving risk evaluation from the initial submission to claims and renewals. Juan de Castro, Cytora's COO, emphasized that the collaboration offers a comprehensive view of client risk profiles, optimizing both operational efficiency and profitability.