15 November 2022Property and Casualty Acturial

Cytora partners with JBA over flood data

Cytora, the digital risk processing platform, and JBA Risk Management have announced a partnership to provide the commercial insurance industry with a more streamlined and informed understanding of property risk using flood data.

Cytora’s ecosystem of data and insight providers, now bolstered by JBA, will support insurers to make more informed decisions on risk and improve speed to market; enhancing broker and client experience.

According to the two companies insurers will now have the capability to automatically embed JBA data and analytics insights within Cytora’s risk digitisation platform thus enabling improved data utilisation, better insights and faster decision-making.

The flood risk data provided by JBA are widely adopted within the international insurance industry and almost 90% of UK insurers currently use JBA flood intelligence, to inform their flood risk evaluation and assessment.

Direct integration of data sources like JBA into risk processing workflows enables insurers to more easily digitize their workflows, make better-informed decisions on risk and improve speed to market enhancing broker and client experience.

“JBA is one of the leading sources of flood data,” said Juan de Castro, chief operating officer of Cytora. “Insurers will benefit tremendously from having JBA's flood intelligence embedded within our digital risk flows to evaluate property exposure. This partnership builds on our commitment to equipping carriers with all the best data sources needed for underwriting and supporting any line of business. We are proud to welcome JBA to our platform.”

Erik Hoeppner, technical director, international business at JBA adds: “We are delighted to provide JBA flood data to enhance the API services provided by Cytora enabling more informed location-level flood risk detail for the insurance industry.”