Optalitix Quote, the innovative new product for underwriters

Optalitix Quote: Modernising Spreadsheet-Driven Underwriting

The Optalitix cloud platform is designed specifically for underwriters who use spreadsheets to manage pricing. Optalitix understands why spreadsheets remain more usable and flexible than many traditional systems and has focused on preserving that usability while eliminating the operational and regulatory challenges associated with spreadsheet-driven processes.

Understanding the Challenges of Spreadsheet Pricing

Many insurers rely heavily on spreadsheets for pricing because of their flexibility and familiarity. However, standalone spreadsheet processes create significant operational difficulties.

Limited Pricing Visibility

A lack of centralised pricing data makes it difficult to track pricing decisions, monitor performance, and continuously improve underwriting processes.

Duplicate Data Capture

Because spreadsheets often operate independently from other systems, users must repeatedly enter the same information across multiple platforms. This creates additional workload, reduces quoting capacity, and increases the likelihood of data errors.

Poor Governance and Version Control

Spreadsheet usage and model changes are difficult to monitor consistently. This increases the risk of pricing errors while also creating greater regulatory concerns and potentially higher capital requirements.

Bringing Spreadsheet Pricing into the Cloud

Optalitix Quote enables insurers to continue using spreadsheet-based pricing models while benefiting from modern cloud computing capabilities.

Reducing Pricing Risk

Greater oversight of quotes and underwriting activity improves governance and reduces exposure to pricing errors.

Improving Profitability

Enhanced access to pricing data creates deeper insight into underwriting performance and enables insurers to gain a competitive pricing advantage.

Increasing Operational Efficiency

Integrated workflows reduce manual processes, allowing underwriters to issue more quotes while lowering operational costs.

Improving Pricing Oversight and Regulatory Compliance

Optalitix Quote provides real-time oversight of pricing activity, helping insurers manage risk more effectively and meet regulatory obligations more efficiently.

Earlier Identification of Catastrophe Exposure

Real-time visibility into pricing activity allows insurers to identify catastrophe cost impacts earlier and respond faster to emerging risks.

Real-Time Pricing Dashboards

Dashboards monitor underwriting and pricing activity continuously, enabling better management decisions, reduced loss exposure, and improved profitability.

Faster Regulatory Reporting

Reporting to regulators such as Lloyd’s and the FCA becomes significantly easier because pricing data is captured directly from core pricing models.

Lower Reporting Costs and Capital Requirements

More accurate and accessible reporting data reduces operational reporting costs while increasing regulatory confidence and potentially lowering required capital reserves.

Aggregate Exposure Monitoring

Real-time exposure management helps identify over-concentration of risk. Underwriters can be alerted automatically or prevented from quoting risks outside appetite thresholds.

Full Model Governance

Model versions are controlled centrally, and usage tracking improves auditability while reducing pricing errors.

Better Capital Allocation

Tracking quote activity and risk appetite enables insurers to prioritise the most attractive opportunities and use capital more efficiently.

Increasing Profit Through Better Pricing Insight

Optalitix Quote provides insurers with significantly more underwriting intelligence by capturing all quote activity — not just bound business.

Complete Quote Visibility

Tracking all quotes provides earlier insight into market activity and improves underwriting decision-making.

Improved Broker Management

Full broker-level quote data enables insurers to identify profitable broker relationships and reduce exposure to underperforming channels.

Smarter Capital Management

Capital requirements can be aligned more closely with actual quote activity and expected binding behaviour, enabling insurers to support more risks with the same capital base.

Active Risk Appetite Management

Quote activity can be prioritised dynamically based on underwriting appetite, improving portfolio quality and profitability.

Better Resource Allocation

Operational resources can be directed more efficiently towards the most profitable opportunities, reducing costs and improving underwriting performance.

AI and Advanced Analytics

With significantly more quote-level data available, insurers can apply AI and advanced analytics to improve pricing accuracy, identify trends, and enhance profitability.

Enhanced Market Insight

Greater visibility into quote activity provides stronger market intelligence, enabling insurers to refine pricing strategies and respond more effectively to market changes.

Prioritised Quoting Services

Quotes can be actively prioritised based on expected profitability and strategic importance, allowing insurers to offer premium services such as VIP quote handling for key brokers.

Boosting Pricing Efficiency

Optalitix Quote streamlines the underwriting process, helping insurers issue more quotes at lower operational cost.

Single Data Entry Process

Data entered once flows seamlessly between quote, pricing, and policy administration systems, reducing duplication and operational overhead.

Faster Underwriting Workflows

Prepopulated quotes improve underwriter productivity and increase quote throughput.

Reduced Training Requirements

Because Excel remains embedded within the process, underwriters can learn the system more quickly and spend less time adapting to new technology.

Improved Process Design

Operational workflows can be redesigned to separate lower-cost data capture activities from higher-value underwriting decisions.

Faster System Deployment

Existing spreadsheet models can be converted rapidly into cloud-based systems, significantly reducing implementation timelines and build costs.

Easier System Maintenance

Underwriters can update models directly, reducing reliance on technical development teams and lowering maintenance costs.

More Efficient Renewals

Historic pricing data can be retained and reused, speeding up renewal pricing and reducing operational effort.

Improved Data Accuracy

End-to-end data flow reduces manual handling, improves processing speed, minimises errors, and delivers higher-quality underwriting data.

The Future of Spreadsheet-Driven Underwriting

Optalitix Quote combines the flexibility and familiarity of spreadsheets with the scalability, governance, and efficiency of cloud technology. By enabling insurers to modernise without abandoning their existing pricing expertise, Optalitix helps organisations become more agile, profitable, and operationally efficient.