Rising Star: Richard Hartley, Cytora

What has been the biggest challenge in your career to date?

Deciding on what is most important, and saying no to everything else.

What would be your advice to other newcomers in the industry?

Make sure you truly understand the industry – through their lens and in their language – otherwise you will never solve the problems within it.

Do you have a role model or mentor and what have you learnt from them?

Paul Forster, senior advisor and co-founder at Indeed, which is one of our investors. Paul taught me that to build a successful business, you must be focused on solving problems for your customers.

How has your view of the insurance industry changed since you started?

The insurance industry is one of the most vital social functions, allowing people to take risks and change the status quo. In many ways, entrepreneurship and insurance are similar: both focus on calculated risk-taking under conditions of uncertainty. Insurance is also one of the most intellectually interesting industries, built on the foundation of probability.

Where do you hope to be in 10 years?

In 10 years I want to establish Cytora as an institution in an insurance industry that is powered by data rather than subjective beliefs. I’d also like to have started a company that becomes a breeding ground for many other impressive companies that emerge from the spirit, ethic and exchange of diverse ideas between the team members within Cytora.

“Richard’s drive to solve challenging problems for insurance by leveraging new technology permeates every aspect of Cytora. He has an intuitive understanding of the challenges insurers face.”

Aeneas Wiener, chief technology officer and co-founder, Cytoraext.