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
![LegitScript’s Data Reveals 1200% Increase in Violative and Problematic Advertisements for GLP-1 Medications](https://retailistmag.com/wp-content/uploads/2024/07/diabetes-777002_640-300x200.jpg)
LegitScript’s Data Reveals 1200% Increase in Violative and Problematic Advertisements for GLP-1 Medications
LegitScript Has Seen Nearly a 100% increase in New Applications for its Healthcare Merchant Certification Program Year Over Year
![Merchants Are Spending 332 Hours Each Year On ‘Overwhelming” Admin](https://retailistmag.com/wp-content/uploads/2024/07/brightpearl-hero-banner-230x300.webp)
Merchants Are Spending 332 Hours Each Year On ‘Overwhelming” Admin
Polling over 1,000 businesses, the study found that US merchants dedicate 6 hours and 24 minutes weekly on manual admin tasks, 27 hours and 44 minutes per month, and 332 hours per year.
![Live Shopping: The Silver Bullet to Product Returns?](https://retailistmag.com/wp-content/uploads/2024/07/design-8576920_640-300x300.jpg)
Live Shopping: The Silver Bullet to Product Returns?
“Direct interaction leads to more informed purchases, as customers feel more confident asking questions and seeking clarification on products before buying, ultimately reducing the likelihood of returns,” writes Kenneth Tan, Co-Founder and CEO of BeLive Technology
![Beyond Customer Centricity - A New Era of Retail Customer Obsession](https://retailistmag.com/wp-content/uploads/2024/07/the-work-2166128_640-300x200.jpg)
A New Era of Retail Customer Obsession
Brands like Polestar, Vinted and Home Depot are changing how they manage their customer journey. What can leaders learn from this?