Insurance technology company Cytora introduces Unified Risk Reasoning, marking a significant advancement in automating the entire risk workflow for insurance industry professionals.
In a groundbreaking move, Cytora, the leading AI-driven digital risk processing platform, has launched a new feature called Unified Risk Reasoning. This latest enhancement continues Cytora's mission to revolutionize risk workflows in the insurance industry.
Unified Risk Reasoning goes beyond data collection, automating the review, choice, and finalization of the crucial fields on which risk decisions are based. This proactive reasoning partner solves the challenge of complete workflow digitization, making it a significant step towards a fully automated pre-decisioning process.
The new feature allows users to add new external data sources to schemas without requiring technical resources. Multi-source reasoning enables schema fields to be filled from various combinations of sources, flexibly defined by configuration users in natural language.
Transparent Chain of Thought reasoning presents key details and reasoning to underwriters and claims handlers in natural language, making risks and claims easily understandable and rapidly actionable. This feature, combined with the comprehensive data library that automatically references and consults external data sources to augment and complete fields with added context, ensures a complete and contextualized risk picture.
The platform interprets risk and claim data points as a whole, improving reliability and control by contextualizing one source with another. Agentic web research automates web searches for information required to complete risk data, applying the information found to inform and refine data in the risk submission.
Sam Lewis, VP Product at Cytora, stated that Unified Risk Reasoning is a major breakthrough, accurately executing the expertise of a seasoned professional in finding, choosing, and finalizing the ultimate data required for a complete risk picture.
Automated enrichment chains allow the output of one enriched field to be the input process for another, unlocking advanced data workflows and allowing users to build richer and more comprehensive profiles. Composite fields can be constructed through a combination of submission, external sources, and web research.
Cytora recently launched 'Concierge' to enable underwriters to control and automatically digitize any request that arrives in their intake. Unified Risk Reasoning applies a controllable reasoning layer, underpinned by Chain of Thought, to transform and automate the entire risk workflow.
This new feature is expected to substantially accelerate pre-decision automation, improve efficiency, and reduce costs for insurers, brokers, and reinsurers. Mark Turner, the founder of Cytora, expressed his excitement about this latest release, stating that it marks another significant step towards Cytora's vision of a fully automated and intelligent risk processing platform.
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