Iotatech, the provider of a disruptive pay-per-use SaaS insurance platform, and Optalitix, an award-winning InsurTech company providing SaaS software solutions, are pleased to announce the successful integration of their platforms aimed at creating added value for clients of the Iotatech Platform.

By combining these modern cloud-native SaaS solutions, Iotatech clients can now embrace rapid pricing and algorithm development through Optalitix Models and seamlessly create configurable scalable services, including services from their existing Excel spreadsheet models.

This gives Iotatech clients a significant competitive advantage as they can now adapt their pricing and retention algorithms more quickly than other providers in the market, and with no coding required.

Other areas where significant benefits can be realised include:

  • Configurable underwriting rules allowing clients to adapt and change quickly and easily,
  • driving focused and personalised messaging to increase propensity to renew,
  • targeted marketing discounts improving conversion rate,
  • AI-driven reserving,
  • streamlined claim, liability, total loss and fraud triage processes,
  • data defaulting and ageing to simplify customer and user journeys, and
  • configurable commission and fee calculations.

Ahmad Mosa, Iotatech CTO said: “This successful collaboration with the Optalitix team and integrating our modern SaaS solutions through Iotatech’s configurable integration service could not have been easier. We look forward to our clients adopting these simple to create and maintain models and algorithms to solve complex business problems and add competitive advantage to their businesses”.

Dani Katz co-founder of Optalitix added: “We look forward to creating real innovation and value for Iotatech’s clients that can now use spreadsheets to create valuable insight in the insurance process.”