Insurtech Optalitix, the insurance underwriter software provider, today announces its partnership with Go.Compare, who will offer Opatlitix’s unique motor and home insurance pricing solution, with support from Quantee, to insurers using the aggregator’s website
This will reduce insurers’ system development time and cost, boost speed to market, and enhance pricing optimisation.
The news swiftly follows Optalitix’s partnership with Quantee, a dynamic insurance pricing platform that improves the granularity and accuracy of pricing models, to offer insurers a ready-to-use pricing product that enables quick access to price retail customers online and via aggregators.
Go.Compare is the first major aggregator to use Optalitix Quote, the underwriting workbench that allows underwriters to embed their pricing model to reduce system development time and boost speed to market. The integration of Optalitix Quote with Quantee’s pricing engine will offer accurate pricing and optimisation at scale for high-volume retail insurance products.
This new partnership with Optalitix offers insurers a fantastic new pricing option with advanced Quantee pricing technology seamlessly embedded in the Optalitix Quote product and connected to Go.Compare's market insight data service, partners can save time and money getting their pricing infrastructure in place.
Commenting on the partnership, Dani Katz, Co-Founder and Director of Optalitix, said: “We are very excited to announce our partnership with Go.Compare. The new pricing product simplifies the onboarding process and enables quicker and more cost-effective access to Go.Compare’s quotes, with enhanced pricing available using the superior Quantee pricing engine.
“Existing Go.Compare insurers, brokers, and intermediaries will be able to switch to the Optalitix Quote system. This will reduce the cost of their pricing system and provide them with a quote infrastructure to help convert more customers.”
Hoodi Ansari – Director of Data & Operations, Go.Compare, said: “Go.Compare exists to present customers with the widest range of products suitable for their needs. We recognise the challenge for specialist providers to reach their target market - and the value these providers can add to customers. We realised the key issues faced by new companies were the cost of the system infrastructure and access to the right data and technology. “
“Working with Optalitix and Quantee, we have developed the new Optalitix Quote pricing platform for the aggregator market to address these issues, boost the usage of the Go.Compare platform, and provide data to improve new entrants' understanding of the market.”
The product will speed up onboarding and reduce development and system costs for insurers, brokers, and MGAs wanting quick access to the Go.Compare platform with full quoting infrastructure.
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 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 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.
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. Learn more 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.
Optalitix Joins Google Cloud Partner Advantage Program
Market leaders in AI and machine learning solutions, Optalitix, announced it has joined the Google Cloud Partner Advantage Program as a Sell and Build partner.
AI Breakthrough Could Accelerate Machine Learning Development
Researchers achieved a new AI breakthrough whereby using light for performing computations can improve machine learning neural networks in speed and efficiency.
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.
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? Learn more now.
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 a New York Times interview.
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. Learn about this competition here.
Identifying Unwanted Bias in Machine Learning
With human-made models comes human-biases, machine learning models are inclined to reflect the biases of the team who built it and the data it is fed.
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. Learn more in this guide..
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.
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.