Streamlining risk decisions across commercial insurance
SpinoutsCommercial insurers face growing challenges in managing vast volumes of complex risk data. Traditional processes are often manual, slow and fragmented, making it difficult to assess risk accurately and efficiently. This can lead to missed opportunities, increased costs and reduced profitability.
Cytora addresses this challenge with a risk digitisation platform powered by large language models, transforming how insurers manage and assess risk.
Cytora has developed a risk digitisation platform that enables insurers to streamline and automate the intake of risk data from trading partners. Powered by large language models, the platform requires no training and can be deployed rapidly across enterprise environments. This allows insurers to digitise risk at scale, improving underwriting speed, premium growth and customer service across all lines of business.
By transforming how risk is ingested and assessed, Cytora helps insurers make faster, data-driven decisions. The platform reduces operational friction and unlocks new efficiencies, positioning insurers to respond more effectively to market demands and emerging risks.
Cytora’s technology has had a measurable impact on the commercial insurance sector. Over the past decade, the company has helped insurers streamline operations by converting complex data into usable formats that support faster, more informed decision-making. The company’s approach demonstrates how AI-powered solutions can modernise legacy systems and drive innovation in traditionally conservative industries.
Building the future of risk digitisation
Founded in 2014, Cytora began as a geopolitical risk analytics startup rooted in research from the University of Cambridge. The company quickly evolved to address broader challenges in commercial insurance, developing a scalable platform that digitises risk intake and supports smarter underwriting.
Founded by Richard Hartley in 2012, Cambridge Enterprise was an early supporter, leading a £2.4 million funding round through its investment arm, Cambridge Enterprise Ventures, and providing strategic guidance during the company’s formative years. Cytora went on to raise over £29 million in total funding, attracting investment from leading venture firms and industry partners until its acquisition by Applied Systems in 2025.
Cambridge Enterprise played a key role in Cytora’s early development, supporting the company from its initial spinout through to its successful exit. The funds took a partial exit early in the company’s life at an attractive multiple, while retaining equity to support future growth. Cytora’s success reflects the value of combining academic insight with commercial ambition and the importance of long-term strategic support from the University ecosystem.
Scaling intelligent risk solutions globally
In 2025, Cytora was acquired by Applied Systems, a global provider of insurance software. The acquisition marked a significant milestone in Cytora’s journey, validating its technology and expanding its reach across international markets.
Now part of Applied Systems, Cytora continues to scale its platform and deepen its AI capabilities. The company is focused on expanding functionality, integrating with more insurer systems and exploring new applications across the insurance value chain. Cytora remains committed to helping insurers digitise risk more effectively and respond to an increasingly complex global landscape.
Image credits: Unsplash
