London – March 18, 2022- Verto syndicate 2689 (Verto), a follow-only Lloyd’s syndicate, and Optalitix, an award-winning Insurtech company providing SaaS software to leading insurers in the UK, today announce their partnership creating meaningful innovation in the Lloyd’s market using a fully digital pricing system with full AI capability. Embracing AI and rapid algorithm development through the Optalitix Quote product will enable Verto to seamlessly identify the best risks available in the market and boost returns for Verto’s investors.Lloyd’s new digital and data capabilities allow insurers with fully digital pricing processes to create faster underwriting processes that improve risk selection.
Verto is pioneering digital innovation and will benefit from the enhanced pricing insight and oversight as well as the improved efficiency in the underwriting process offered by the Optalitix Quote system. Chris Sharp, active underwriter at Verto, said: “We are excited to be able to enhance Verto’s offerings as a digital-first Lloyd’s entity that can maximise on the opportunity presented by the Lloyd’s initiatives.”Dani Katz co-founder of Optalitix added: “We look forward to boosting
Verto’s capabilities in the new, digital market emerging in Lloyd’s, and innovating further using the Optalitix Quote product suite.”Verto use “Optalitix Quote” which was developed to help insurers move from a spreadsheet system to a fully digital one. Optalitix Quote has integrations designed for the London Insurance Market, allowing clients to rapidly integrate and scale.
For more information contact:
Blaze Communications- firstname.lastname@example.org
Contact Dani Katz - email@example.com+44 7766820783
For more information on Optalitix, please visit our website -www.optalitix.com
Notes to editors
About Hampden Group
Hampden Group is a leading provider of specialist insurance, investment and financial support services. It has grown to become the largest provider of services to investors providing capital to the Lloyd's insurance market through its subsidiary Hampden Capital Plc, whose subsidiaries include:
- Hampden Agencies, the Lloyd's members' agency, a Lloyd’s Members’ Agent and adviser which represents and advises more than 1,000 clients on their underwriting affairs at Lloyd’s. It is the largest provider of private capital to Lloyd’s. With more than £2bn of advised private capacity in 2021, as well as providing administrative services to corporate investors who supplied a further £2bn, the resulting total Lloyd’s market involvement for Hampden Agencies’ clients is some £4bn of capacity. This represents more than 10% of the Lloyd's market as a whole.
- Hampden Insurance Partners Management (Cayman) Ltd was established in 2013 in order to manage institutional capital to support underwriting capital in Lloyd's of London for institutional investors and currently has assets under management of more than US$400m.
- Nomina Plc which administers the affairs of c.1,600 limited liability vehicles;
- Hampden Syndicate Services Limited, which employs the active underwriter of Verto Syndicate 2689 seconded to the “turnkey” managing agency, Asta Managing Agency, together with a dedicated team of underwriters and support staff. Verto Syndicate 2689 was established for the 2017 Account and has underwriting capacity of £71.5m for 2022.
- Hampden Tax Consultants Ltd which provides a wide range of UK and international tax compliance and advisory services to high net worth individuals, including Lloyd's members and to companies, trusts and estates.
For further information about Hampden Group please see www.hampden.co.uk
Optalitix builds award-winning products for insurers that are built in the cloud, ensuring customers improve oversight of their models and risks, insight into their data and boost efficiency in their operations. Optalix helps clients maintain a competitive advantage in an increasingly digital environment, facilitating intelligence led business decisions that allow them to maximise sales, optimize pricing, improve productivity and support regulatory compliance.