Insights

Optalitix nominated as a finalist for 2 awards in the 2023 National Insurance Awards

How our catastrophe reporting portal helped Lloyd's of London collect more accurate data and save 1000's of hours

"The time that has been saved has given us much more freedom” Carey Bond, Head of Claims for the Americas at Lloyd’s

2023: A year of insurance disruption

We have been amazed at the contradictory messages emerging in the insurance news – companies pulling out of entire markets like Florida, California and the UK due to huge insurance losses – and at the same time, huge opportunities and excess profits in 2023 are attracting new capital and new insurers into the market like it’s a gold rush.

Hampden Risk Partners implements Optalitix Quote as their underwriting workbench

Hampden Risk Partners used Optalitix Quote to grow their capacity at Lloyd's

Optalitix nominated as a finalist in the 2023 Insurance Times awards

Innovation award for Lloyd's reporting portal

The computable game - Part 1

Football stats and insights

Onespark use case: Improving website UX with cloud-based integrated pricing calculators

Meet Optalitix at Insurtech Insights EU 2023

Building a pricing calculator into a CRM for Almagro Capital

Almagro wanted a calculator for their products to be built into the Zoho CRM system. Find out how Optalitix Models connected the Almagro CRM system in Zoho here.

Optalitix Models integrates easily with Retool to create no-code apps from spreadsheets

Spreadsheet-based calculations that represent real-world situations are referred to a models. See how to convert your models into usable application software here.

How to get underwriting efficiency. Workflow and the underwriting workbench

A practical guide to underwriting workbenches

A practical guide to underwriting workbenches

Optalitix celebrates 10 years!

Optalitix products now available on Google Cloud Marketplace

New pricing standards at Lloyd's require improvements in underwriting systems

New principles for doing business at Lloyd’s will encourage syndicates to digitise their processes, especially underwriting. Find out more about these principles.

Learn about insurance innovation from the DIA conference

Create a claims triage system using Excel logic

With claims, departments need to be able to filter out the valid claims and pay them quickly amongst other tasks. See how Excel can help make a claims triage system.

Is the future of Lloyd’s algorithmic? - Part 2

Smart Follow underwriting and the algorithmic technology will bring a revolution of improved pricing and lower costs to insuring large and complex risks. Read more.

Optalitix appoints Paul Hewitt to their Board following the investment into Optalitix by 24Haymarket

Paul Hewitt has been appointed to the Board of Optalitix, advising on insurance strategy, product development and industry partnerships. Read more in this guide.

Optalitix & Avamore launching new lending platform using Optalitix Originate

Optalitix Client Avamore will be launching its new core lending platform using Optalitix Originate architecture. Read more about the platform and their targets here.

Create a claims forecasting system

Calculating claims is vital for insurers as it can take months or even years for the claim payments after an insurance event to emerge. Find out more in this guide.

Optalitix announces that it has achieved the prestigious ISO 27001 certification

Optalitix announced that it has achieved the prestigious ISO 27001 certification by implementing an Information Security Management System (ISMS). Read more here.

Create a pricing application from a spreadsheet pricing model

When setting a price for a new product, the starting point is almost always Excel. Find out how to create a pricing application from a spreadsheet pricing model here.

Verto syndicate 2689 and Optalitix announce partnership - Press Release

Optalitix raises £4m of funding for growth

Optalitix is an award-winning technology business that adds value to financial institutions with low code SaaS products, data analysis and AI models. Read more.

FCA disrupts the insurance market

The FCA has changed the game for more established players in the insurance sector with its significant gear change in pricing for insurance business. Read more.

Boost sales with an insight sales model

Generating sales will often cost time and money, particularly in the insurance sector. Discover how smart tools can help manage costs using Optalitix Models here.

Insurance innovation – what will 2022 bring?

What might we expect for insurance in 2022? From digital insurance marketplaces to wellness products and profitability, read our predictions and more in this guide.

Optalitix Models Use Cases

Case Study: Catastrophe Reporting - Lloyd's of London

The London market could benefit from greater levels of digitisation and automation by converting data into cloud-based systems using low code software. Read more.

Is the future of Lloyd’s is algorithmic? - Part 1

Take a look at a report that considers the impact of algorithmic underwriting on Lloyd’s and the London Market where complex risks are typically underwritten here.

Optalitix and Almagro Capital announce a new partnership that provides Almagro Capital with a rapid online quoting tool for its forthcoming expansion

Optalitix and Almagro Capital have agreed to partner to create improved pricing tools for Almagro and its brokers. Read more about their partnership in this guide.

The emergence of digital exchanges in the London Insurance Market

The Optalitix team were invited to contribute to a discussion where the digitisation on the underwriting process for the London Market. Read our insights here.

Iotatech and Optalitix announce the successful integration of their products providing significant added value to Iotatech’s clients

Iotatech and Optalitix are pleased to announce the successful integration of their platforms aimed at creating added value for clients of the Iotatech Platform.

Optalitix Quote, the innovative new product for underwriters

Optalitix Quote is a new cloud product that enables underwriters using spreadsheets to improve their pricing processes. Discover more about it in this handy guide.

Building a pricing system from a spreadsheet

Have you got an Excel pricing model that you would love to turn into a system? Find out how to build a pricing system from a spreadsheet in this guide. Read more.

The role of an underwriter should not be underestimated

The multi-faceted contribution an underwriter makes to any insurance business transcends simply assessing risk. Read more about underwriting and the impact of it.

Underwriters –valued professionals acting as risk gatekeepers

What does an underwriter do on a day to day basis? Discover the role underwriters play, how technology plays a key part in the underwriting process and more here.

Google’s AI Claims to Be Improving How It Recognises News and Misinformation

Google's Vice President, Pandu Nayak claims that Google is using AI to better understand news and misinformation. Read more about Nayak's theory in this guide.

Optalitix are Insurance Times Awards Gold Winner - Release

Optalitix wins the Gold award for Excellence in Technology – Service Provider (General) category at the 2021 prestigious Insurance Times Awards. Read more here.

Changes to FCA Insurance Pricing

New rules from 2022 ensure that customers who are renewing their insurance policies receive a quote no more than they would be quoted as a new customer. Read more.

The future of systems with embedded Excel models

The ease with which Excel models can now be converted and the number of Excel models in existence requires a new age of system design. Find out more in this guide.

Learn about Mass Challenge – a US based start-up accelerator

Spreadsheet models need to go digital

Spreadsheets should move to cloud-based systems in order to benefit from rich features such as dashboards, databases and seamlessly integrated AI and automation.

Convert pricing models using an Excel converter.

Optalitix have determined that using Excel converters to convert pricing models is the most efficient and effective method. Take a look at the features and more.

Converting Spreadsheets - The 3 Options

At Optalitix, we are able to convert spreadsheets in 3 ways: by recoding the system, using an existing commercial platform, or using an Excel converter. Read more.

Spreadsheet dependancy and pricing

Spreadsheets are frequently used for pricing due to their ability to build complex calculations quickly in a flexible coding environment. Read more in this guide.

DeepMind AI Explores How to Improve Chess

Deepmind is an AI company using machine learning to reinvent the game of chess as we know it, with the help of chess champion Vladimir Kramnik. Find out more here.

Optalitix powered United Trust Bank’s step into the future with instant mortgage decisioning

The mortgage market is always changing. Few banks are able to offer an instant decision on a mortgage, yet the United Trust Bank (UTB) is one of them. Read more.

8 ways that data can power your business

Using your data better can help business managers to see more, know more and do more. Take a look at beneficial data uses that businesses can adopt in this guide.

Big Data Processing for Multiple Insurers

The insurance sector is data rich and decisions are made quickly using real time data. Find out how GoCompare embraced AI to add value to their partner offering.

Five reasons why pricing in the cloud will increase sales

Cloud based pricing ensures that everything from conversion to compliance is streamlined, efficient and controlled ultimately leading to increased sales. Read more.

Spreadsheet Sense Check

As business strategy evolves and growth become more dependent on cloud based tools like AI, machine learning and data, the value of spreadsheets may also be affected.

A Year of Challenges and Opportunities

Learn about Lloyd’s Lab – an influential insurtech accelerator

How Is AI Helping to Fight the Impacts of COVID-19?

AI and machine learning have become key tools in helping to tackle the pandemic, not just in understanding the virus but also how to support different industries.

AI Used on Facebook and Twitter to Detect Foreign ‘Trolls’

Researchers claim to have trained a machine learning system to identify posts on social media that aim to manipulate political events. Read more in this guide.

The Magic of AI

Demystifying AI is a challenge facing most businesses as automation and machine learning shift to being a necessity. Read more about the magic of AI in this guide.

Get rid of the cr…p and do something Cool!

Read the valuable insights offered by Buster Tolfree the Commercial Director – Mortgages at a Tip-Talks event co-sponsored by United Trust Bank and Optalitix.

The Top 5 Strangest Uses of AI

Whilst AI has transformed many essential areas of society, some have also begun to use its technology for the weirder. Take a look at some odd uses of AI here.

Optalitix Named Amongst Start-up Elite in the TechRound100

Optalitix is a finalist in the TechRound100, ranking in the top 100 UK start-ups that have been praised for their innovation. Read more about the competition here.

How AI Is Used in Our Everyday Lives

AI permeates several aspects of our everyday lives, from our smart phones to shopping to entertainment on streaming sites. Learn more about the impact of AI here.

How Could AI Change Future Workplaces

AI has the power to change the future of working globally. Read more about how AI can assist with staff collaboration, hiring employees, and remote working here.

Dani Katz runs 18km as part of Optalitix Fundraising

Optalitix co-founder Dani Katz ran 18km as part of Optalitix’s fundraising efforts this summer. Read about how he did and the charities that Dani ran for here.

Elon Musk Predicts AI Will Overtake Humans in 5 Years

Elon Musk has recently claimed that Artificial Intelligence could overtake humans by 2025, and discussed these predictions in an interview with The New York Times.

Optalitix Joins Google Cloud Partner Advantage Program

"Market leaders in AI and machine learning solutions, Optalitix, announced that it has joined the Google Cloud Partner Advantage Program as a Sell and Build partner."

AI Breakthrough Could Accelerate Machine Learning Development

Researchers have achieved a new AI breakthrough whereby using light for performing computations can improve machine learning neural networks in speed and efficiency.

Next Generation of AI Described as “Too Dangerous to Release” – Now Released

The Artificial intelligence tool Generative Pre-training Transformer (GPT-3) has gained much attention, but is the technology dangerous? Find out more in this guide.

Concerns Rise Over AI Racial Bias as Facial Recognition “Predicts Criminality”

The debate over racial bias in tech has been renewed as a US university claims it can predict criminality through facial recognition. Discover more in this guide.

Identifying Unwanted Bias in Machine Learning

With human-made models comes human-biases, machine learning models can be inclined to reflect the biases of the team who built it and the data it is fed. Read more.

How Is AI is Changing The World?

Artificial Intelligence (AI) has the power to change the world across multiple sectors including business, healthcare, transport and education. Find out more here.

What Industries Could AI Impact the Most?

From virtual health care assistants to driverless taxis, AI is transforming the way the world operates, making processes more productive and efficient. Read more.

Is AI taking jobs?

Developments in AI have led to machines taking predominantly unskilled jobs, and this looks set to continue. Learn more about how AI is impacting the workforce here.

How Can Machine Learning Help My Business?

Machine learning can help your business thrive by automating several operations; assisting with making decisions, mundane tasks, and security. Find out more here.

How do machine learning models work?

There are a variety of regression and classification models within both the supervised and unsupervised categories of machine learning, a type of AI. Find out more.

Will machine learning replace humans?

Machine learning technology has already started to replace humans, yet it has potential to create many opportunities and enable people to do their job even better.

Hot Models

During Covid-19, AI or non-human solutions were being used to model potential outcomes and solutions. Find out how this was done and the findings that came from AI.

How is AI used in financial services?

The financial services industry is being transformed by AI. Learn more about how AI is used as robo-advisory services, chatbots, and algorithmic trading in finance.

Optalitix selected to participate in Lloyds Lab

The Optalitix team are delighted to have been selected to participate in cohort 4 of the Lloyds Lab. Read more about their application and success in this guide.

How is AI being used in healthcare?

New AI technology from Microsoft and Google is able to detect diseases such as prostate cancer and diabetic retinopathy. Learn more about how the NHS is using AI.

What is the AI industry worth?

The AI industry is estimated to be worth somewhere in the region of $5 trillion dollars, and this number is only set to increase in the future. Find out more here.

What are the 3 V's of big data?

Big data is a common shorthand that many people may not fully understand. But there is a simply way to understand it by getting to know three main concepts. See more.

How does machine learning work?

Machine learning algorithms are a type of AI that can learn patterns and processes with minimal to no human intervention. Discover more about how they work here.

How is machine learning used in finance?

The financial sector is increasingly using machine learning in order to be more accessible, efficient and provide a better customer experience overall. Read more.

How to Become a Data Scientist

With more and more companies realising the advantage of using customer data effectively, now is a great time to become a data scientist. Find out more in this guide.

What are the four types of artificial intelligence?

Reactive machines, theory of mind, limited memory, and self-awareness are four main types of AI categories to be aware of. Read more about them in this guide.

Holiday AI Thoughts

The key to selling is to establish a relevant dialogue and understanding with your clients. Find out how AI systems can be utilised to target the right consumers.

Artificial Intelligence powered insurance is now inevitable!

AI is changing the competitive landscape for insurers by delivering a competitive edge in a number of areas. Read more about artificial intelligence in insurance.

AI Accessible for all- Ignore at your peril!

As AI continues to develop, businesses of all sizes will need to engage with the technology and embrace the power of machine learning to improve their processes.

The Computable Game

Why cant lending be like Uber?

Lending is constantly changing with entrants, regulations and technology. Find out how technology can give businesses market leading edge like Uber in this guide.

The future of life insurance

In the past, choosing the right life insurance was an arduous task. Thanks to data analysis and algorithms, shopping for life insurance has become much simpler.

Why are Insurers playing a guessing game?

AI and machine learning in a GDPR environment.

GDPR refers to the EU’s upcoming data protection regime. Find out whether the anonymisation of data, as prescribed by GDPR, would break AI models and more here.

Cultural diversity drives better AI outcomes

Agile organisations that can respond to the global challenges of their often multinational customer base are often the ones that thrive. Read more in this guide.

A meaningful connection. The next phase of API relationships.

Data analytics and API are very closely intertwined, but what is the next phase in their relationship? Learn more about this successful financial connection here.

Insurance quote personalisation is magic!

Dani Katz talks about how Optalitix can improve every aspect of the insurance business through better use of data, quotations and more. Read more in this guide.

Why are Insurers playing a guessing game?

Too many insurers use systems that are built to process actions without using insights from their data to improve user experience. Find out more in this guide.