Worldwide AI company Cytora achieves ISO 42001 certification in AI governance, placing it among the initial organizations globally to meet this standard.
Cytora Achieves ISO/IEC 42001 Certification, Demonstrating Commitment to Responsible AI
Cytora, a digital risk processing platform, has achieved ISO/IEC 42001 certification, placing the company among a select group of global technology firms committed to responsible AI deployment. This certification verifies that Cytora has implemented formal oversight mechanisms to ensure AI is governed with high levels of rigour throughout its product lifecycle.
ISO/IEC 42001 is the world’s first international standard specifically for Artificial Intelligence Governance. It sets requirements for establishing, maintaining, and improving AI management systems. Adoption of this standard is viewed as a critical framework for companies deploying AI at scale responsibly, particularly in sectors like insurance where AI significantly affects decision-making processes.
Cytora's AI is foundational to its platform, which uses advanced language models to digitize risk submissions. The company's AI is used to streamline intake, enrich submissions, and enhance efficiency, all under auditable frameworks and with explainability features. This certification demonstrates to insurers that Cytora is proactively governing its AI systems with the highest levels of rigour.
The achievement builds on Cytora’s existing ISO 27001 certification, indicating a comprehensive approach to both AI governance and information security. Cytora's AI governance includes formal risk reviews, human-in-the-loop controls, and comprehensive impact assessments across its product lifecycle.
This certification is significant for Cytora as it continues to lead in the insurtech industry. The company has established partnerships with major insurers such as Chubb, Arch, and Everest. Cytora's achievement also reflects its commitment to ethical and accountable AI development for the insurance industry, making it one of the first insurance technology providers to receive ISO/IEC 42001 certification.
In 2024, transaction volume processed by the Cytora platform increased sevenfold. This growth is a testament to the platform's efficiency and the increasing demand for digital risk processing solutions. Recently, Cytora launched its agentic AI-powered service, Concierge, which automates the digitization of an insurer's entire intake across all transaction types.
João Domingues, Security Director at Cytora, stated the importance of responsible AI handling in the insurance industry to protect its integrity and the people it serves. The ISO/IEC 42001 certification further solidifies Cytora's position as a pioneer in the responsible use of AI in the insurance sector.
[1] Cytora Press Release: [Insert Link] [2] ISO/IEC 42001:2021 Standard: [Insert Link] [4] Cytora Website: [Insert Link]
- Cytora, with its advancements in insurtech, has integrated artificial-intelligence technology into its digital risk processing platform, ensuring ethical and accountable AI deployment through the implementation of the ISO/IEC 42001 standard.
- As a pioneer in the responsible use of AI in the insurance sector, Cytora's AI-driven platform, equipped with explainability features and auditable frameworks, has significantly streamlined processes and enriched submissions, thereby demonstrating a dedication to technology innovation while maintaining the highest levels of rigour in AI governance.
