Insurtech innovator Optalitix has announced a significant upgrade to its flagship product, Optalitix Models, with the launch of a powerful new feature: Model Monitoring.
This enhancement introduces real-time tracking of insurance pricing models providing unprecedented visibility into model usage, accuracy, and reliability. Optalitix also upgraded its underlying modelling system to deliver a transformative 70% increase in model performance speed.
Model Monitoring gives insurers new capabilities to allow Optalitix to proactively monitor model health and performance. From detecting errors and usage anomalies accelerating model optimisations, this innovation enables insurers to reduce model risk and operational costs while increasing governance and insight.
Model Monitoring will now be used by Optalitix to monitor client model performance, with far earlier insight into clients’ model health, and will be released for clients to access on a self-service basis in July.
“This change is groundbreaking for our clients, giving them far deeper insight and awareness of the performance of their entire model estate,” said Ricky Jayes, Product Manager for Optalitix Models. “There are no other trackers in the market like this that enable insurers to monitor their Excel, Python, R, and other pricing model performance.”
With Model Monitoring, insurers will gain access to advanced model dashboards that offer:
· User activity insights showing model usage trends and monitor model updates and uploads
· Performance comparisons across model versions to identify optimisation opportunities
· Proactive alerts and support triggers that help teams act immediately when issues arise
Prior to this release, clients lacked a streamlined way to monitor live models once deployed. Now, Optalitix Models supports tracking of any model type in real-time, ensuring greater model accountability and operational oversight. As a result, insurers benefit from faster quote generation, more accurate pricing, and a competitive edge in underwriting performance.
“We believe the inclusion of a single source for model monitoring for insurers’ entire model estate, including their Excel, Python, and R models, is a world first,” said Dani Katz, Founding Director of Optalitix. “Optalitix is committed to providing groundbreaking technology to help insurers manage their advanced model estates.”
This breakthrough was made possible by integrating Google Cloud’s latest system tracking technologies directly into the Optalitix Models platform, extending model monitoring to all existing clients automatically—with no additional setup required.
Optalitix continues to lead in cloud-based insurance modelling technology. Its award-winning platforms, Optalitix Models and Optalitix Quote, enable insurers to host, monitor, and evolve pricing models in real-time, with unmatched speed, transparency, and scalability.
