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Markel UK enters partnership with insurtech platform Cytora

Markel UK enters partnership with insurtech platform Cytora | Insurance Business UK

Markel UK enters partnership with insurtech platform Cytora

Markel UK has entered into a partnership with Cytora.

Cytora is an insurance technology platform that specialises in the digital processing of risk. Through the partnership, Markel will deploy the Cytora platform to streamline its risk intake across UK P&C lines. The platform can digitally and automatically filter risk submissions to the right underwriter, allowing Markel’s underwriters to spend more time underwriting the most profitable risks.

The Cytora platform will form a “core part” of Markel’s new business workflow by increasing the capacity for growth in target risk segments via a “more efficient, effective and intelligent” pipeline, quote and deal process, a company release said.

“At Markel, we are committed to giving brokers and clients enhanced service levels and Cytora will enable us to create capacity to effectively grow our scale in our key sectors and enable our underwriters to provide further enhanced service to customers and brokers,” said Markel UK divisional managing director Neil Galjaard.

“The commercial insurance industry is undergoing a fundamental transformation. We’re excited to partner with Markel, building on the success of our relationship so far, and accelerate their transition to become a digitally enabled insurance company,” commented Cytora CEO Richard Hartley.