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PRESS RELEASE: KYND and Cytora announce partnership to deliver advanced underwriting capabilities for cyber insurers
KYND Limited, a leading provider of pioneering cyber risk technology and Cytora the digital risk processing platform, have announced a new partnership. It sees the two insurtech innovators working together to create an advanced cyber proposition for underwriters, brokers and clients..
Through this partnership, insurers will now have the capability to automatically embed KYND’s advanced cyber risk management technology within Cytora’s industry leading risk digitisation platform thus enabling improved insights and faster decision-making capabilities.
This “one-stop shop” partnership is a huge step forward towards increasing the accuracy and speed of data-driven assessments and decision-making by underwriters. The advanced technology stack will empower insurers to quickly assess organisations’ risk, while at the same time reducing the reliance on costly, time-consuming manual processes. The advantage of faster, simpler and better risk processing creates a distinctive competitive advantage, delivering superior service, efficiency, growth and profits across different underwriting channels.
Andy Thomas, KYND’s CEO and Founder, said: “We are extremely pleased to begin this new partnership with Cytora. In an increasingly automated and data-driven environment, the cyber insurance industry has hit that point where to secure a sustainable advantage in the face of the ever-changing threat landscape, insurers need to maximise their data insights and enhance their underwriting processes. This partnership and the “one-stop shop” approach gives underwriters the data and support they really need to quickly and easily assess risk in an organisation – delivered with the agility, ease and accuracy needed to succeed in this expanding market!”
Richard Hartley, Cytora’s CEO, commented: “The importance of digitising risk flows in the cyber context is gaining momentum. Cyber risk is growing rapidly and requires the combination of multiple data sources to process, evaluate and underwrite effectively. The partnership between Cytora and KYND will enable insurers to deliver streamlined and digital end-to-end cyber risk workflows.”
KYND is on a mission to make complex cyber risks easy to understand and manage. KYND’s pioneering technology makes assessing, understanding, and managing cyber risks easier and quicker than ever before and is used by insurers, brokers, and their clients. Recognising one size doesn’t fit all, KYND has designed made-to-measure InsurTech products that work for any size business, from any industry, anywhere in the world.
KYND’s unparalleled cyber-risk management tools not only enable accelerated sales of cyber policies, speeds up renewal and helps control client risk but also supports better underwriting decisions by removing complexity, providing instant insight into cyber risk exposure while mitigating insured’s risk exposure with continuous monitoring and alerts.
For more information about KYND, visit: https://www.kynd.io/
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Cytora is the configurable platform that enables commercial insurers to process risks at greater efficiency and accuracy. Cytora digitises every incoming risk, augments them with additional data sources, evaluates them against multiple rules, including appetite and priority rules, and routes them to downstream systems for automated or manual underwriting.
To learn more about Cytora please visit: https://cytora.com/.