Modernising Insurance Pricing for the AI Era
Why insurers no longer need to choose between Excel, Python, R and modern pricing systems and how connected underwriting platforms are making AI a practical reality.
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
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.
Why AI Starts with Modern Pricing Infrastructure
AI-ready insurance pricing requires structured data, governed workflows and digital pricing infrastructure because AI needs consistent, accessible information and controlled processes to operate effectively at scale. Organisations that modernise their pricing and underwriting operations today will be best placed to take advantage of AI-driven innovation in the future.
Read the full interview on AI Insurer Brief
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