Markel boosts underwriting productivity by 113% with Cytora partnership

The collaboration has leveraged AI to automate pre-underwriting tasks, conduct comprehensive risk assessments, and eliminate manual data entry, freeing specialist underwriters to focus on high-potential risks.

“Cytora has been a foundational partner helping us to effectively grow our scale and enable our underwriters to provide enhanced service to customers and brokers,” said Neil Galjaard, managing director of Markel. “We are now deepening our partnership with Cytora to build on the success we have achieved and are excited about creating further value for our brokers and clients in this next phase.”

Richard Hartley, CEO and co-founder of Cytora lauded Markel’s forward-thinking approach in embracing the latest technology to revolutionise its business operations. “Markel is a leading example of an insurer embracing the latest technology to revolutionise its business,” he said. “We know that AI-driven digital risk processing can transform organisations by vastly improving efficiency and freeing employees up to do much higher value work.”

This partnership is a clear example of how AI can be used to revolutionise the insurance industry. By automating routine tasks and freeing up underwriters to focus on more complex risks, Markel can deliver a faster and more efficient service to its customers and partners.

“Our partnership with Markel is a clear example of this in action - the productivity increases are significant,” Hartley added. “It underscores what can be achieved when insurers invest in digitising their underwriting workflows.”