How Natural-Language AI is Changing Insurance Pricing Workflows

How Natural-Language AI is Changing Insurance Pricing Workflows

The article explores why successful pricing transformation is about far more than deploying better models. In an interview with AI Insurer Brief, Dani Katz, Co-founder and Director of Optalitix, argues that many insurers have focused heavily on modelling and analytics while overlooking the operational workflows that determine whether new pricing systems are actually adopted by underwriters. True transformation requires modernising the entire pricing and underwriting process—not simply replacing spreadsheets.

Pricing Transformation Is an Operational Challenge

Drawing on experience from more than 25 pricing transformation projects, Dani explains that underwriters often continue using spreadsheets because they represent years of accumulated knowledge and fit naturally into existing workflows. Successful transformation therefore depends on improving governance, usability and business processes while preserving the expertise embedded within existing pricing models.

Where AI Is Delivering Real Value Today

Rather than replacing pricing models, AI is enhancing how underwriters interact with them. By using natural-language queries, underwriters can ask questions about risks, similar cases, concentration exposure or approval status and receive structured, traceable insights drawn directly from the pricing platform. AI acts as an intelligent assistant, helping underwriters make faster, more informed decisions while remaining within existing governance and regulatory controls.

Balancing Sophistication with Simplicity

The article highlights the importance of making sophisticated pricing models accessible to underwriters. Actuaries continue building complex models behind the scenes, while underwriters interact with intuitive interfaces that allow them to adjust assumptions, understand pricing outcomes and explore scenarios without needing technical expertise. Natural-language AI further simplifies access to complex analytical insights.

The Future of Modern Underwriting

Looking ahead, Dani predicts that manual processes will largely disappear as pricing, underwriting and data become fully connected. AI and automation will remove administrative tasks, enabling underwriters and actuaries to spend more time understanding risk and making better decisions. The insurers that succeed will be those that modernise the entire pricing workflow—from model deployment through to underwriting decisions—creating connected, governed and data-driven operations that are ready for the next generation of AI

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Read full article: https://aiinsurerbrief.com/p/aib-executive-series-dani-katz-on-how-natural-language-ai-is-changing-insurance-pricing-workflows?utm_source=aiinsurerbrief.com&utm_medium=newsletter&utm_campaign=aib-executive-series-dani-katz-on-how-natural-language-ai-is-changing-insurance-pricing-workflows&_bhlid=33be737f95cf146202015a39486a833ae10845fd

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