Cytora overview

Cytora is a data analytics provider for the general and reinsurance industry, offering valuable insights into a companies own and their competitors performance portfolio. According to Cytora, its service can reduce a companies loss ratio by up to 18%, whilst increasing premiums by a potential of 10%.

Cytora’s risk engine, enriched with machine learning technology, layers several proprietary and open source data points relevant to a specific line of insurance to provide intelligent insights on risk. Utilising the plethora of unstructured web data allows insurers to increase their capacity to new lines of insurance, as well as verify claims of damage against reports listed online.

Cytora claims that its API capabilities can cut the underwriting process down to under a minute. It enables insurers to build quotation workflows, which enables end-customers to forgo a long questionnaire. It does this in part via Property API, which enables insurers to find and verify any address through a single business identifier, and connects company financials and adjacent building occupancy to each submission. It also has a Price API, which can automatically decline or prioritise submissions, and a Policy API, which can create a linked or unlinked policy for every quote offered.

Cytora generates revenue by charging a yearly ARR license fee, which increases based on usage and per line of business.

Cytora participated in the 2016 Plug and Play Insurtech accelerator to further develop its insurance offering.

In June 2018, Cytora announced they would be employing their AI-driven tech to enhance MS Amlin's commercial underwriting processes.

Cytora announced it had raised a £25m Series B in April 2019 , led by EQT Ventures, which would be used to scale into new geographies and expand its product suite.

In July 2019 Cytora partnered with newly-launched Convex Group Ltd. Using Cytora’s platform, Convex will enhance its underwriting process, using data to achieve a more complete and increasingly accurate view of risk whilst helping underwriters improve risk selection.

Later that year, in November, Cytora announced it was to partner with C-quence to launch a P&C suite in January 2020, utilising Cytora's commercial insurance API.

In October Cytora became the latest tech company to announce it will pivot to a 'remote-first' company, even after the 2020 Covid-19 pandemic ends, enabling employees to work anywhere globally. Each team member will be given funding to set up a remote space, plus given a £2k annual travel budget. Cytora will also arrange a series of workspaces across Europe for those who would prefer a separate office space or for collaborations. 

Map showing the location of Cytora

London, United Kingdom

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Key people

Andrzej Alzamora Co-Founder and CCO
Lyle Fong Board Member
Ted Briscoe Advisor
Joshua Wallace Co-Founder and CCO
Richard Hartley Co-Founder and CEO
Aeneas Wiener Co-Founder & CTO
Alan Morgan Advisor
Matthew Grant Senior Advisor
Bill Byrne Advisor
Richard Gibson Non-Executive Chairman
Paul Forster Advisor
Martin Glen Director
Richard Coleman Advisor
Tom Coward Finance Director
Ilkka Paananen Advisor
Adrian Brown Advisor
Carol Cheung Advisor