Redefining Insurance Pricing for the Digital Age

The Challenge: Moving Beyond Spreadsheet-Based Pricing

The article explores why insurers need to move beyond spreadsheet-based pricing if they want to scale their underwriting operations and successfully adopt AI. In an interview with AI Insurer Brief, Dani Katz, Founding Director of Optalitix, explains that while spreadsheets remain central to many insurers' pricing processes, they lack the governance, scalability and structured data required for modern underwriting.

Transforming Existing Pricing Models into Digital Services

Optalitix addresses this challenge by converting Excel-based pricing models into APIs through its Models platform, allowing insurers to retain their existing pricing logic while making it available as a scalable, governed digital service. Every pricing calculation is captured, providing full auditability, version control and improved governance.

Connecting Pricing with the Underwriting Workflow Pool Re: Modernisation in Practice

Dani also explains how Optalitix's Quote platform complements Models by embedding pricing directly into the underwriting workflow. From submission and pricing through to underwriting decisions, risk assessment and document generation, the entire process is managed within a single platform, creating end-to-end governance and operational efficiency.

Pool Re: Modernisation in Practice

The article concludes with the Pool Re Fortress platform as a practical example of modernisation in action. By replacing manual email-based treaty processes with a centralised digital platform, Pool Re improved consistency, reduced administration and errors, and created a fully governed underwriting process.

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Why AIStarts with Modern Pricing Infrastructure

Without structured data, governed workflows and digital processes, AI initiatives are unlikely to move beyond pilot projects. Organisations that modernise their pricing and underwriting operations today will be best placed to take advantage of AI-driven innovation in the future.

Read full article: https://aiinsurerbrief.com/p/aib-executive-series-from-spreadsheet-dependency-to-ai-ready-pricing-optalitix-on-modernising-underw-8009/

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