Optalitix, a company launched in 2013, is celebrating its 10th anniversary. In 10 years Optalitix has become an award-winning Insurtech providing SaaS software to leading insurers in the UK. Currently, the company has a team of 50 people internationally and this substantial expansion, scale and growth demonstrates the company's success and the growing demand for its products.
The company's achievements have been recognized by various prestigious programs, including the Fintech Innovation Lab, Lloyd's Lab, Mass Challenge, and Oxbow Insurtech 25.
“We have so much to be proud of as we recognise this important milestone, one earned through a decade of experience and perseverance in developing new cutting-edge technologies,” said Jon Shapiro - Co-founder of Optalitix.
“As Optalitix enters its second decade, the company acknowledges that its strength is in its team. We will continue to grow and invest in the future and in our products. Optalitix has three core products".
Optalitix Models which hosts pricing models as APIs and converts Excel models into systems. This reduces build time by converting spreadsheets (and other models) into systems in a large‐scale manner. Optalitix Quote is an underwriting workbench that provides an underwriting platform for insurers and MGA’s to underwrite new business and renewals, whilst generating greater data insight, oversight and process efficiencies3. Optalitix Validate enables data exchange and analysis to help insurers and reinsurers to validate data submitted via Excel from brokers / TPA’s / other Insurance parties.
With a roster of blue-chip clients, including Lloyd’s of London and most of its Managing Agents, GoCompare, Vitality and United Trust Bank.Optalitix sees significant opportunities for further growth and expansion. The company is excited about the next 10 years and is confident that technology and data will continue to drive innovation in the insurance space, with their experience in AI implementation an exciting part of their product offering.
We would thank all our clients for their support and continuing trust in us and the Optalitix team.
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.
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.
Changes to FCA Insurance Pricing
New rules from 2022 ensure 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 available requires a new age of system design. Find out more in this guide.
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.
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.
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 our guide now.
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.
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.
Spreadsheet Sense Check
As business strategy evolves and growth is more dependent on cloud based tools like AI, machine learning and data, the value of spreadsheets might be affected.
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.
Learn about Lloyd’s Lab – an influential insurtech accelerator
Membership in Lloyd's Lab allowed Optalitix to scale up and develop innovative ideas in collaboration with the world's largest insurance market. Learn more now.
Learn about Mass Challenge – a US based start-up accelerator
