Applied Systems completed the acquisition of Cytora.

Applied Systems, a global provider of cloud-based insurance software and automation solutions, completed the acquisition of Cytora, an AI-enabled digital risk processing platform. Financial terms were not disclosed. “At Applied, we are committed to being the leading specialist in insurance AI solutions for both agencies and carriers. Cytora is the ultimate example of insurance-focused AI. Their commitment to leveraging advanced AI capabilities to accelerate and streamline the digitization, exchange, and prioritization of risk data between agents and carriers fits perfectly with our vision of the Digital Roundtrip of Insurance. Our collective technology assets, insurance domain expertise, and vast insurance data sets – combined with the power of AI – will deliver speed, accuracy, and cost advantages across all the critical workflows involved in the insurance lifecycle. This move firmly establishes Applied as the leader in insurance AI,” Taylor Rhodes, Applied Systems CEO.