By Retailist Editorial Team
Global speciality insurance provider Markel has announced a partnership with insurtech provider, Cytora to evolve their underwriting processes.
Cytora uses AI-supported workflows to automate pre-underwriting activities and perform the upfront evaluation of underwriting tasks.The brand has been working with Markel since 2021 to transform its underwriting process into digital workflows by leveraging AI to automate processes, perform upfront evaluation of risks, and eliminate rekeying of data.
The partnership has led to a reduction in quote turnaround times from an average of one day to just two hours. As a retail-specific offering, Markel also offers Markel Specialty for brick and mortar store owners.
Read more about the Cytora partnership here.
Related Articles
The New Frugality: How Inflation and Tariffs Are Reshaping Consumer Spending
One of the most telling shifts is how shoppers approach decision-making. Where convenience once dominated, consciousness now plays a larger role. People are researching more before making a purchase, comparing prices across multiple platforms, and questioning whether they really need the product in the first place.
Embracing new concepts vs the return to brick-and-mortar
Balancing the return to physical retail and the development of new technologies to enhance customer experience and drive operational efficiency for long-term success.
Enartis to Acquire Parsec in Winemaking and Retail Deal
The deal will bring Enartis and Parsec together to help wineries manage every part of production more easily and efficiently, from grape to bottle.
A Practical Guide to Retail AI Use Policies for Retailers and HQ Teams
AI can bring new opportunities for retailers, but this innovation must come with responsibility.
for the latest news and job opportunities in retail tech 