Cytora has announced the latest version of its digital risk processing platform, Cytora Platform 3.0.
This updated version enhances the platform’s capabilities by utilizing agentic AI in a fully explainable manner.
Agentic AI orchestrates teams of digitization agents that think, work, and explain like humans to complete tasks.
This approach unlocks the next level of performance and explainability across commercial insurance intake.
The platform can reportedly digitize any transaction type, regardless of size and complexity, with zero training required.
This enables insurers to digitize their entire intake, including new business, claims, renewals, and MTAs.
The platform can handle complex risk submissions documents, such as loss runs and schedules of values, which can contain thousands of repeating fields.
Intuitive human review features make it easy for admin users to accelerate the review of thousands of nested fields, including lists of properties, claims, and other repeating items.
Fast track features enable reviewers to zoom into just the fields that require validation.
Cytora Platform 3.0 provides unprecedented levels of explainability.
Digitization agents explain their execution, providing transparent and reliable results.
Extraction tasks are executed by seven agents in parallel, who provide their own reasoning paths, resulting in transparent confidence scoring at the field level.
Risk professionals can be certain of digitization results, deepening automation across underwriting and claim workflows.
Chain of thought reasoning will be accessible in the human review console to assist admin users with validation and exception management.
The platform provides further advancements in self-service capabilities, making it faster and easier to configure new workflows and lines of business.
Users have the power to control and tailor the platform to best suit their needs. A visual editor with a natural language interface provides an intuitive user experience.
This means the platform is easier and faster to deploy with fewer resources, improving the operational ratio for insurance companies.
Cytora built the platform to enable commercial brokers, insurers, and reinsurers to process higher volumes of risk at lower marginal cost with improved control over risk selection.
Transaction volume processed by the Cytora platform grew by a factor of seven in 2024.
Juan de Castro, COO at Cytora, stated that Cytora Platform 3.0 marks a step forward in digital risk processing for commercial insurers.
With agentic risk digitization, the platform has substantially increased its capability to digitize high-complexity transactions while enhancing explainability, transparency, and user experience.
Cytora Platform 3.0 demonstrates significant advancements in digital risk processing, offering improved explainability, transparency, and overall user experience.
The platform’s ability to digitize complex transactions and provide intuitive human review features can potentially streamline commercial insurance intake processes.
However, it is crucial to consider the potential challenges and limitations associated with implementing this technology, such as ensuring seamless integration with existing systems and providing adequate training to users.