Transforming Global Group Life Reinsurance Pricing

About

SiriusPoint partnered with Optalitix to modernise its group life reinsurance pricing and underwriting operations. Together, they developed PricePoint, a secure, cloud-based pricing and underwriting platform built on Optalitix Quote. The solution was designed to replace fragmented, spreadsheet-driven processes with a single governed digital environment connecting external carriers and central underwriters across SiriusPoint’s global portfolio.

SiriusPoint operates as a specialty underwriter writing group life reinsurance business across multiple territories through a network of independent risk carriers. While underwriting authority sat centrally, submission data originated from partners worldwide, creating operational complexity as the portfolio expanded.

The Challenge

SiriusPoint’s pricing processrelied heavily on distributed Excel models and manual workflows spread acrossmultiple territories. This created several operational and governancechallenges, including:

• Inconsistent submission formats from global partners
• Manual data handling and validation
• Limited visibility into quote status and workflows
• Gaps in underwriting governance and approval processes
• Spreadsheet-driven processes restricting scalability and control

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As the business grew, SiriusPoint needed a controlled and scalable platformthat could standardise submissions, improve governance, and support continuedglobal expansion.

The Solution

Optalitix implemented PricePoint, a cloud-based SaaS pricing and underwriting platform tailored to SiriusPoint’s group life portfolio. Built on Optalitix Quote, the platform created a unified environment for submissions, pricing, underwriting, and approvals.

Key features included:

• Standardised digital submissions
• Automated data validation
• Structured underwriting workflows
• Role-based governance
• Real-time visibility
• Centralised audit trails

The platform digitised the entire underwriting journey and was deployed in under six months.

The Impact

Within the first two months of launch, PricePoint delivered measurable business impact:

• 20+ users onboarded
• 150,000+ lives quoted through the platform
• $8m+ quoted on the platform

The new platform transformed SiriusPoint’s underwriting operations from a manual, spreadsheet-based process into a scalable, governed, and data-driven workflow.

Benefits included:

• Faster quote turnaround times
• Improved data accuracythrough automation
• More consistent underwritingdecisions across territories
• Full audit trails andstronger governance
• Better visibility intoportfolio exposure and risk trends
• Scalabilitywithout increasing operational burden
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The solution also enabled complete traceability across the underwriting lifecycle, giving SiriusPoint stronger operational control and transparency.

The Future

PricePoint established a scalable foundation for SiriusPoint’s future innovation in underwriting and pricing. According to SiriusPoint’s Senior Pricing Actuary, the platform not only improved today’s underwriting workflow but also created opportunities for future intelligent automation and AI-driven quote triaging.

Looking ahead, SiriusPoint plans to build on the platform’s governance, visibility, and automation capabilities to further increase efficiency and support continued expansion in the global group life reinsurance market.

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