About this project
Cytora is an insurtech with a difference - a difference they have occasionally struggled to articulate. With this white paper, we went back to basics: explaining what Cytora does and why it is different as clearly as possible, while addressing the biggest problem their clients faced (inefficiency). We dispensed with some of the more overtly creative messaging that had previously been developed, reverted to the CEO's preferred formal tone, and tied it all back to the daily experience of insurance underwriters, finance managers and operations chiefs. Head of marketing: "It looks really really good! It reads well, it clearly lays out the current situation, solution, problems and implications. I'm so impressed!" I'm banking that as a win!
Extract
By definition, the broker will not have the same level of deep expertise and nuanced understanding of a specific market as the underwriter. The broker’s product knowledge will never be as detailed, and it is all but impossible for brokers to have all the data points demanded by each of the insurers they approach, as each insurer has a different submission process and those data points change over time.
These are significant constraints. The inevitable consequence is that the amount of information brokers can practically include in a presentation that goes to multiple insurers is limited. From the underwriter perspective, this translates into data gaps that need to be filled if they are to understand the risk and underwrite it to the highest degree of comfort and security. In the subsequent back-and-forth to fill those gaps, efficiency is lost, and valuable underwriting resources are directed towards data gathering rather than data analysis.