Optalitix Quote enables underwriters using spreadsheets to improve their pricing processes

  • The Optalitix new cloud product is designed for underwriters that use spreadsheets to set their pricing.


  • Optalitix understand the reason spreadsheets are more usable than any other type of system, and were determined to retain that usability while addressing the shortcomings of spreadsheet use.


  • An understanding of the pain that a pure spreadsheet driven process creates:
    • Lack of data on pricing from spreadsheets makes it harder to track and improve the pricing process
    • Too much data capture in the process as spreadsheet are independent of other systems, creating extra work, reducing quoting capacity and increasing data errors
    • Spreadsheet usage and changes are difficult to track, resulting in possible errors and increasing regulatory concern and capital required for pricing.


  • Optalitix Quote ensures companies using spreadsheets to price are able to use cloud computing tools:
    • Reduce pricing risk by with greater oversight of the quote and underwriting process.
    • Increase profit by gaining a pricing advantage using their Improved insight with pricing data
    • Reduce cost and increase quotes issued with boosted efficiency from their pricing process.



Improve pricing oversight and reduce regulatory risk with Optalitix Quote

What does Quote doWhat are the benefits?
Dashboards track activity in real timeAllows better management of pricing, reducing risk of loss and improving profitability
Regulatory reporting, including to Lloyd’s and the FCA, is quicker and easier to do as data is available from core pricing modelsLower cost of reporting and more accurate reports allow enable reduced capital requirements
Aggregate risk exposure monitoring in real time, with earlier identification of catastrophe exposureEnsures pricing adapts to over exposure by informing underwriters or preventing risks from being quoted.
Model versions are maintained, and usage of models is tracked in the dataImproved profitability due to fewer pricing errors
Tracking of risks allows better use of capital, ensuring quote are prioritised based on risk appetiteImproved capital efficiency -> more profit for a given level of capital
Better data improves regulatory confidenceLower regulatory capital
Improved reporting data result in better pricing managementImproved profits and more efficient operations
Oversight of pricing allows earlier identification of catastrophe cost impacts, improving response timeReduced risk of loss due to lower exposure to catastrophes


Increase profit using the insight from Optalitix Quote

What does Quote doWhat are the benefits?
All quotes are tracked in the data rather than just bound quotesImproved profitability due to earlier insight and more quote information
Brokers can be managed better as full quote data at a broker level is availableMore sales from trusted brokers, reduced risk from unprofitable brokers
Capital can be reduced based on actual quotes activity and expected risks being boundMore risks for a given level of capital
Quote activity can be actively managed based on risk appetiteBetter risk profits due to better risks being written
Resources allocated more effectively to the processReduced operational cost
Early identification of risks being bound allow more informed actionsBetter profitability
AI can be applied to the data as more risks are availableImproved risk and improved profitability
Market insight is greater due to better quote informationLead market and improved pricing strategy
Quotes can be actively prioritised based on expected riskBetter profits, more profitable risks bound quicker
Additional services can be offered to customer such as VIP prioritised quotingBetter broker relationships


Boost pricing efficiency – issue more quotes, reduce data capture costs

What does Quote doWhat are the benefits?
Single data input in quote, pricing and policy administration systemReduced operational costs
Underwriter more efficient due to prepopulated quotesMore quotes issued per underwriter, less cost
Easier for underwriters to learn system due to embedded ExcelMore quotes issued due to reduced downtime for system training
More efficient process can be introduced such as separating data capture from more expensive underwritingImproved efficiency, lower cost
Quicker to implement system using existing modelsLower system build cost
Quicker to update system by existing underwritersLower system maintenance cost
Renewal pricing is more efficient as historic pricing data can be storedQuicker quote issuance leading to lower operational cost
More accurate data processing due to data flow all the way throughQuicker processing of data, fewer checks needed, better quality data