Cytora, a digital risk processing platform for the insurance industry, has partnered with Climatig, a provider of innovative solutions for calculating detailed physical climate risks.
This integration embeds Climatig’s advanced climate analytics directly into the Cytora platform, giving insurers immediate access to science-backed intelligence for decision-making.
This capability significantly improves comprehensive risk assessment and enables underwriters to make more informed decisions regarding risk exposures for individual assets and entire portfolios.
This collaboration strengthens Cytora’s data ecosystem in light of increasing global regulations (such as TCGD adjustments, requiring climate risk disclosures).
By combining Cytora’s GenAI unstructured document digitization with Climatig’s high-resolution risk data and perpetual forecasting, joint clients gain the foresight necessary to respond to changing regulatory requirements and consider long-term decisions about risk appetite and strategic markets.
Juan de Castro, chief operating officer at Cytora, said: “Climate intelligence is no longer optional; it is the foundation for intelligent underwriting, especially in the commercial real estate and specialty sectors.
“Our partnership with Climatig enables insurers to easily embed critical, science-backed risk data directly into rich stages of their workflows. This enables our clients to ensure immediate compliance with regulations while building resilience across their business and driving smarter, faster decisions.”
Commercial insurers using the Cytora platform can leverage Climatig data in the enrichment and risk assessment/classification steps of the submission processing workflow.
Once a property is submitted, Cytora automatically geolocates the asset and requests a comprehensive climate risk assessment from Climatig, covering major hazards such as flooding, high winds and wildfires.
This information is then used to automate due diligence and assess risks against climate-aware preference rules, ensuring compliance with external disclosure requirements and enabling insurers to accurately quantify the financial impact of climate on their portfolios.
Dusko Radulovic, CEO of Climatig, commented: “Climate risk is no longer an abstract long-term issue. It directly affects underwriting quality, portfolio performance and claims outcomes.
“Our partnership with Cytora enables precise climate risk assessments to be embedded directly into risk assessment workflows. This enables commercial insurers to select risks more accurately, price with greater confidence, enhance claims control and provide clear, consistent insights into their sales channels at the time of decision-making.”