Specialty insurer Markel has said its partnership with insurtech Cytora has delivered a 113% increase in productivity (measured by gross written premium per full-time employee) for its underwriting team and enabled it to cut average quote turnaround times from 1 day to 2 hours.

Neil Galjaard, managing director of Markel, said: “We are committed to giving brokers and clients enhanced service levels and Cytora has been a foundational partner helping us to effectively grow our scale and enable our underwriters to provide enhanced service to customers and brokers.”

Richard Hartley, CEO and co-founder of Cytora, added: “Markel is a leading example of an insurer embracing the latest technology to revolutionise its business. We know that AI-driven digital risk processing has the capacity to transform organisations by vastly improving efficiency and freeing employees up to do much higher value work. Our partnership with Markel is a clear example of this in action.”

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