Applied Systems has acquired Cytora, the digital risk processing platform, in a deal aimed at strengthening its AI expertise and advancing its push toward the “Digital Roundtrip of Insurance.”
The acquisition integrates Cytora’s AI-enabled risk digitization technology with Applied’s solutions for carriers, agencies, and MGAs.
The combined platform promises to cut the cost and time of insurance workflows by automating submissions, underwriting, renewals, and claims servicing.
Taylor Rhodes, CEO of Applied Systems, said the move underscores the company’s strategy to lead the market in AI-focused insurance solutions.
“Cytora is the ultimate example of insurance-focused AI,” he said, emphasizing the role of advanced data digitization and exchange in creating seamless connectivity between agents and carriers.
Cytora’s technology converts structured and unstructured data into decision-ready transactions, reducing time-to-quote from weeks to hours.
It streamlines tasks such as mid-term adjustments, endorsements, and renewals, enabling insurers to lower operating costs while boosting underwriting profitability. The deal also broadens Cytora’s reach into global markets, from carriers and MGAs to brokers and reinsurers.
Richard Hartley, CEO and co-founder of Cytora, said the company’s mission is tightly aligned with Applied’s vision of connected, automated insurance.
We are excited to join Applied to significantly expand the value of insurance AI at each stage of the risk lifecycle, bringing the industry closer together and enabling more profitable growth for all stakeholders.
Richard Hartley, CEO and co-founder of Cytora
By joining forces, the firms aim to help insurers digitize risk flows at scale, improve efficiency, and handle greater business volumes. Both companies stress that the goal is to shift focus away from administrative overhead and toward the core business of insuring risk.
Insurance Advisory Partners LLC acted as exclusive financial advisor to Cytora on the transaction.
