The Technology team has advised Cytora on its acquisition by Applied Systems to accelerate Applied’s vision of delivering the Next Generation of the Digital Roundtrip of Insurance. Bringing the power of Cytora’s AI-enabled risk digitization platform, specifically built for the insurance industry, together with Applied’s leading suite of insurance solutions for agencies, carriers, and MGAs will create intelligent automation, connectivity, and collaboration at each stage of the policy lifecycle.
Cytora is the pioneer of Generative AI applied to commercial insurance workflows that digitize risk workflows at unparalleled levels of performance, configurability and scalability across the enterprise. With Cytora, commercial insurers uplift their premiums, improve control over risk selection and transform service to brokers and clients.
Applied Systems is a leading global provider of cloud-based software that powers the business of insurance.
The Goodwin team was led by Andrew Davis with support from Alec Smith, Lucy Thomas, Rachel Conder and Carmen Lim (Corporate, Technology), Anna Yeomans (Private Equity), Meggie Hickey (US Corporate, Technology), Saba Rais, Alexandra Denniston, Will FitzDavis (Executive Compensation), Gretchen Scott and James Taylor (Strategic Technology and Transactions), Simon Fulbrook, Nadim Islam, Laura Kelly (Debt Finance), Katie Leah (Tax), Sarah Jordan (Antitrust) and Alex Fisher, Jennifer Fay and Alex Nicolaidis (Employment).
For more information on the deal, please read the press release.