Markel cites 113% jump in productivity following Cytora partnership
The partnership has led to a reduction in quote turnaround times from an average of one day to just two hours.

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

Turning Shopping into Play: The Gamification of E-commerce

Turning Shopping into Play: The Gamification of E-commerce

“As e-commerce evolves, gamification emerges as a crucial strategy for success. With the sector expected to grow significantly, companies that leverage interactive and engaging tactics are well-positioned to lead the market,” writes Kenneth Tan, Co-Founder and CEO of BeLive Technology

Read More »
Why Your eCommerce Accounting Should Include Account Hierarchy

Why Your eCommerce Accounting Should Include Account Hierarchy

Despite a positive financial forecast for the industry, ecommerce business owners must not be complacent and instead leverage the growth in sales and shoppers by managing their finances properly. One way to do so is by implementing an account hierarchy for more organized financial reporting and analysis.

Read More »

Subscribe to the Retailist Roundup!

The Retailist Roundup is a weekly newsletter dedicated to keeping readers at the forefront of the future of retail. Delivered straight from our editors, we share the most influential headlines, the latest trends, thought-provoking predictions from global retail leaders, and the most promising job opportunities in the industry.

Subscribe below  👀 for the latest news and job opportunities in retail tech 👉