Remember in the Avengers movie, when all the superheroes finally came together and you knew something epic (see what I did there) was about to happen? That’s exactly how we felt when we finally acquired Cytora – two giants joining forces, each bringing unique strengths to create something greater than the sum of its parts.
This is an important milestone for us as it deepens our commitment to simplifying and enhancing the insurance journey for carriers, agencies, MGAs and brokers alike. Below, I’d like to explain the “why” of this acquisition, how Cytora fits into our bold vision to embed AI into every step of insurance’s digital journey and back, and how Applied can best be positioned as the go-to solution for AI in insurance.
When two visionaries become one
For those of you who may not be familiar with our two companies, let me give you a brief introduction. Applied Systems has been a trusted technology partner for insurance professionals for decades. We have been working to connect the entire insurance distribution channel, from agencies and brokers to insurers and insureds, to create a more efficient and connected insurance experience for everyone.
Cytora has been a genius in risk digitization. Their AI platform transforms the way insurers and institutions process risk data – transforming messy, unstructured information into structured, actionable insights that drive better underwriting decisions.
At Applied Materials, we are committed to making bold investments in artificial intelligence, and doing so with purpose. This acquisition reflects our determination to lead the insurance industry into the era of artificial intelligence and intelligence, through tools and systems designed to empower every player in the insurance lifecycle.
We’ve long prided ourselves on creating software solutions that are embedded in the fabric of our clients’ workflows – from leading agent management systems like Epic and EZLynx to carrier connectivity through Ivans. Now, with Cytora joining Team Applied, we’re taking this mission to a whole new level. Both companies are focused on solving the insurance industry’s biggest pain points through technology. As Cytora CEO Richard Hartley said:
“At Cytora, we have always believed that artificial intelligence will fundamentally change insurance workflows. Joining forces with Applied Systems gives us the scale and impact to accelerate transformation across the industry.”
I totally agree. The alliance of our businesses is wonderful not only on paper, but also in substance. It is transformative in practice.
Accelerate the digital round trip
The AI-enabled risk digital platform in Cytora will integrate seamlessly with our existing solutions, creating an end-to-end digital experience that eliminates manual data entry, reduces errors, and significantly speeds up the entire insurance process from submission to renewal.
As I told our team when we announced this acquisition internally, we are not just adding another product to our portfolio. We radically enhance Cytora by infusing it with its incredible artificial intelligence capabilities into every solution we offer.
Key benefits for agencies and operators
I know what you’re thinking: “Tyler, this is great for Applied Systems and Cytora, but what does this mean for me?” Fair question! The partnership between Applied and Cytora is designed to help create smarter, faster processes that benefit both agencies and operators.
For agencies, streamlined workflows will transform submissions, renewals, endorsements, claims servicing and more, while AI transforms messy data into actionable insights. This means less time spent on manual tasks and more time growing your business.
Using Cytora tools, carriers can submit information easily and effortlessly, resulting in faster quotes and better risk selection. The shortened timeline will help improve customer satisfaction, profitability and premium growth.
We’ve only scratched the surface of how it will impact agencies and carriers alike. The insurance industry faces increasing challenges – rising claims costs, management inefficiencies and rising customer expectations. This acquisition directly addresses these pain points by bringing automation and intelligence to areas where it is needed most.
Transforming an industry one workflow at a time
Change doesn’t happen overnight, but when the right pieces come together, the momentum becomes unstoppable.
The insurance industry has been talking about digital transformation for years, but progress has been uneven. Some processes have been digitized, while others remain stubbornly manual. The result? A disjointed experience full of bottlenecks and friction points.
With the addition of Cytora to the Applied Systems family, we are solving one of the most persistent challenges in the insurance lifecycle – the digitization of risk information. It’s not just about making existing processes faster; It’s about reimagining how insurance workflows work from the ground up.
Imagine a world where:
- Submitted data is instantly extracted, structured, and enriched with additional insights
- Underwriters can focus on analyzing risks rather than entering data
- Agents and brokers receive quotes in minutes, not days or weeks
- Renewals are seamless and the latest risk information is automatically incorporated
That world is not the distant future; That’s what we’re building now. By integrating Cytora’s technology into our solutions, we are accelerating this future for all stakeholders in the insurance ecosystem.
Our shared vision for the future
As Richard and I talked about our shared vision, the excitement was palpable. We’ve all seen the reality: insurance is effortless, data-driven, and proactive rather than reactive.
Applied Systems has always grown through organic growth and strategic acquisitions. Every company we bring on adds something unique to our capabilities and helps us better serve our clients. Cytora represents an important step in our innovation journey, particularly in advancing our artificial intelligence capabilities.
Our comprehensive vision includes:
- Our AI-driven solutions expand globally, serving insurance professionals worldwide
- Deeper integration across the insurance lifecycle, eliminating silos and friction points
- Continuous innovation in how risk data is captured, analyzed and leveraged
- Provide insights to all insurance stakeholders to drive better decisions
The future of insurance is digital and intelligent. With Cytora now part of Applied Systems, we are leading the way in bringing this intelligence to every corner of the industry.
What happens next?
I hope you’re as excited about this acquisition as I am (and honestly, you should be!), but you’re probably wondering what happens next.
In the short term, our focus is on integration – bringing Cytora’s technology into our product ecosystem and ensuring a seamless experience for all customers. But it’s not just about technology integration; This is also about cultural integration. Cytora’s talented people are now part of the Applied Systems team, bringing their expertise and innovative thinking to everything we do.
For our current customers, you will begin to see the benefits of this acquisition in the coming months as we enhance existing solutions with Cytora’s capabilities. For those of you who are not yet part of the Applied Systems family, now is the perfect time to join us on this journey.
Insurance Digital Roundtrip is more than a catchy phrase – it’s our North Star, guiding everything we do. Now that Cytora is part of our team, we are better positioned than ever to realize this vision.
Leading the development of artificial intelligence in the insurance industry
I invite you to join us as we begin this exciting new chapter. The insurance industry is at an inflection point, and those that embrace AI innovation will thrive in the coming years.
You can keep in touch with us by:
The future of the insurance industry is being written, and with the joining of Applied Systems and Cytora, that future becomes even brighter. Together we champion a vision of insurance AI, where technology removes barriers so teams can focus on securing meaningful risks and delivering better outcomes for everyone.
theme
M&A Insurtech Data-Driven Artificial Intelligence
