C-Quence and Cytora collaborate to transform mid-market insurance

Steve Muir 26.11.2019
London, UK, 26th November 2019 – C-Quence, the Digital MGA, and Cytora, the API platform for commercial insurance, are joining forces to turbocharge innovation in Commercial Property & Casualty (P&C) underwriting.
 
C-Quence will launch its Property & Casualty suite in January using Cytora’s Property API to instantly connect hundreds of property, location and other data attributes to each Property & Casualty submission to gain a more complete view of risk. This, together with other data sources, will feed into the sophisticated algorithms that underpin C-Q Elements, C-Quence’s technology-enabled underwriting and transaction platform.
 
This means that Brokers can expect a similar experience for P&C that they currently enjoy with C-Quence’s Financial Lines products, namely:
  • significantly fewer underwriting questions
  • fast, efficient turnaround with quote to bind in minutes
  • fast handling of referrals in minutes not days
  • early notification of any declinatures during quotation process
  • accurate setting of terms and price for every risk based on quality data enriched by Cytora
  • drastically reduced transaction costs
 
Jacqueline McNamee, C-Quence CEO, explains: “This is a weighty partnership between two organisations that have a similar ambitious vision for the future of Commercial Insurance. Individually we are both making a difference. By combining our considerable capabilities we are confident of accelerating long needed transformation in our industry, helping brokers to place risk more easily and providing a more efficient trading experience.”
 
Richard Hartley, Cytora CEO, said: “Our partnership with C-Quence marks an important step in the digitisation of mid-market insurance. Cytora was built to make it easier for companies like C-Quence to reinvent the status quo, embracing technology to build better customer experiences and a better understanding of risk. We believe C-Quence is going to drive significant positive change across the industry, we have been working with them closely for some time, and it’s a pleasure to announce this partnership.”
 
-ENDS

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