Remember in “The Avengers” movie when all the superheroes finally get together and you just know something EPIC (see what I did there) is about to happen? That’s exactly how I felt when we closed our acquisition of Cytora – two powerhouses 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 improving the insurance journey for carriers, agencies, MGAs and brokers alike. Below, I’ll unpack the “why” of this acquisition and how Cytora fits into our bold vision to infuse AI into every step of the Digital Roundtrip of Insurance, and how Applied is best positioned to be the go-to solution for AI in insurance.
When two visionaries become one
For those who may not be familiar with our two companies, let me give you a quick overview. Applied Systems has been the trusted technology partner for insurance professionals for decades. We have been on a mission to connect the entire insurance distribution channel, from agencies and brokers to insurers and underwriters, creating a more efficient and connected insurance experience for everyone.
Cytora has been the marvel of risk digitization. Their AI-powered platform is transforming the way insurers and agencies handle risk data – taking messy, unstructured information and turning it into structured, actionable insights that drive better underwriting decisions.
At Applied, we are committed to making bold investments in artificial intelligence – and to do so with purpose. This acquisition reflects our commitment to lead the insurance industry into the AI ​​and intelligence era with 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 very fabric of our customers’ workflows—from leading agency 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 have been laser-focused on solving the insurance industry’s biggest pain points through technology. As Richard Hartley, CEO of Cytora, puts it:
“At Cytora, we have always believed that artificial intelligence would fundamentally transform insurance workflows. Joining forces with Applied Systems gives us the scale and reach to accelerate this transformation across the entire industry.”
I couldn’t agree more. The union of our companies is not only good on paper; it is transformative in practice.
Accelerates the digital journey
The AI-enabled risk digitization 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 dramatically speeds up the entire underwriting process from submission to renewal.
As I told our team when we announced this acquisition internally, we’re not just adding another product to our portfolio. We fundamentally improve every solution we offer by infusing it with Cytora’s incredible AI capabilities.
Key benefits for agencies and carriers
I know what you’re thinking, “That’s great for Applied Systems and Cytora, Taylor, but what does this mean for me?” Fair question! The partnership between Applied and Cytora is here to help create smarter, faster processes that benefit both agencies and carriers.
For agencies, streamlined workflows will transform submissions, renewals, endorsements, claims servicing, you name it, while AI transforms messy data into actionable insights. This means less time spent on manual tasks and more time developing your business.
Carriers get frictionless, headache-free submission onboarding with Cytora’s tools, enabling faster quoting and better risk selection. Shortened timelines will help improve customer satisfaction, profitability and premium growth.
And we’re just scratching the surface of how it will affect both agencies and carriers. The insurance industry is facing increasing challenges – rising claims costs, administrative inefficiency and rising customer expectations. This acquisition directly addresses these pain points by bringing automation and intelligence to the areas that need it most.
Transforming an industry, one workflow at a time
Transformative 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 Cytora joining the Applied Systems family, we are tackling one of the most persistent challenges in the insurance lifecycle – the digitization of risk information. This is not just about making existing processes faster; it’s about reinventing how insurance workflows work from the ground up.
Imagine a world where:
- Submission data is extracted, structured and enriched with additional insights
- Underwriters can focus on analyzing risks instead of entering data
- Agents and brokers receive offers in minutes instead of days or weeks
- Renewals are seamless with updated risk information automatically incorporated
That world is not a distant future; that’s what we’re building right now. And with Cytora’s technology integrated into our solutions, we are accelerating this future for all stakeholders in the insurance ecosystem.
Our shared vision for the future
When I talk to Richard about our shared vision, the excitement is palpable. We both see a reality where insurance is effortless, data-driven and proactive rather than reactive.
Applied Systems has always grown both organically and through strategic acquisitions. Each business we bring into the fold adds something unique to our capabilities and helps us better serve our clients. Cytora represents a significant step in our innovation journey, particularly in advancing our AI capabilities.
Our combined vision includes:
- Global expansion of our AI-powered solutions to serve insurance professionals worldwide
- Deeper integration across the insurance lifecycle, eliminating silos and friction points
- Continuous innovation in how risk data is captured, analyzed and utilized
- Empowering all insurance stakeholders with insights that drive better decisions
The future of insurance is both digital and intelligent. And with Cytora now part of Applied Systems, we’re 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 frankly, you should be!), but you’re probably wondering what happens next.
In the short term, we are focused on integration – bringing Cytora’s technology into our product ecosystem and ensuring a seamless experience for all our customers. But this is not just about technology integration; it is also about cultural integration. The brilliant minds at Cytora 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 our existing solutions with Cytora’s capabilities. For those who are not yet part of the Applied Systems family, there has never been a better time to join us on this journey.
The Digital Roundtrip of Insurance isn’t just a catchy phrase – it’s our north star that guides everything we do. Now that Cytora is part of our team, we are better positioned than ever to make this vision a reality.
Leading the charge for AI in insurance
As we embark on this exciting new chapter, I invite you to join us. The insurance industry is at an inflection point, and those who embrace AI innovation will thrive in the coming years.
How to keep in touch with us:
The future of insurance is being written right now, and with Applied Systems and Cytora joining forces, the future just got a lot brighter. Together, we’re championing a vision for insurance AI where technology removes the barriers so teams can focus on securing meaningful risks—and deliver better outcomes for everyone.
Subjects
Mergers and acquisitions InsurTech data-driven artificial intelligence