.jpeg)
Optalitix, the specialist insurance and finance software provider, today announces that specialist lender Spring Finance (Spring) has selected Optalitix to deliver a market-leading, technology-led new mortgage system.
Optalitix’s cloud lending platform, Optalitix Originate, is trusted by many leading lenders to issue over £7bn of loans. The platform will provide Spring’s mortgage origination platform.
For Spring, the platform will automate and streamline the lending process and improve profitability through an efficient, compliant lending process.
This collaboration will enable Spring to fully automate the decision-in-principle approval process, using data from credit reference agencies, affordability models, and other third parties to provide a robust and reliable lending decision early in the application process.
The new platform will also allow brokers to seamlessly API customer data from their internal systems, reducing the need tore-key any data.
Alistair King, COO at Optalitix, said: “We are excited to be providing Spring with our innovative Originate platform. By integrating our platform with their lending decision-making platform, Spring will benefit from the full range of flexibility, intelligence, and efficiency offered by Optalitix Originate. We look forward to being a key partner to Spring in their future growth journey.”
Andrew Bloom, Chief Executive and owner of Spring, added: “Optalitix have extensive expertise within the mortgage industry and the delivery of these systems will play a pivotal role in Spring’s growth plans.”
Shelley Stern, Director of Mortgages, at Spring, said: “We are delighted to be partnering with Optalitix. This is a significant stepforward in using technology to streamline processes, enhancing both the broker and customer experience by providing data-driven reliable decisions.”
Create a claims triage system using Excel logic
With claims, departments need to be able to filter out valid claims and pay them quickly amongst other tasks. See how Excel helps make a claims triage system.
Boost sales with an insight sales model
Generating sales will often cost time and money, particularly in the insurance sector. Learn how smart tools can help manage costs using Optalitix Models 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. Learn more now.
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.
Optalitix Models Use Cases
Insurance often involves using pricing models in spreadsheets. Use Optalitix Models to simplify processes by transforming these spreadsheets into a 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.
Is the future of Lloyd’s 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 often underwritten..
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 here.
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.
Case Study: Catastrophe Reporting - Lloyd's of London
Learn how the London market could benefit from greater levels of digitisation and automation by converting data into cloud-based systems using low code software
Verto syndicate 2689 and Optalitix announce partnership - Press Release
Verto syndicate 2689 (Verto), a follow-only Lloyd’s syndicate, and Optalitix, an award-winning Insurtech company providing SaaS software to leading UK insurers.
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.
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. Learn more about it in this handy guide.
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.