Optalitix enhances underwriting performance and supports business growth

The introduction of Optalitix Quote’s new Flow technology enables flexible underwriting workflows thanks to the new Risk Vision dashboards.

Insurtech Optalitix, the insurance underwriter softwareprovider, today announced significant enhancements to its Optalitix Models andOptalitix Quote products at a breakfast briefing at Lloyd’s, with guestspeakers John Neal, CEO of Lloyd’s, and Matthew Grant, partner of InsTech.

Optalitix works with Lloyd’s and major insurers, deliveringmarket-leading products that are already being used to underwrite billions ofpounds worth of premium. Now their software comes with even more powerfulfeatures and enhancements to add value to underwriters, actuaries, andexecutives.

“Optalitix is already recognised by Lloyd’s and majorinsurers for its market-leading products, which enable insurers to manage risksbetter, with pricing models that boost underwriting performance, increaseefficiency, and reduce costs. This latest launch of Optalitix Quote takes thesecapabilities to the next level, giving our clients a powerful competitiveedge,” said Dani Katz, Co-founder and Director of Optalitix

Greg Gwilliam, Head of Insurance Platforms at Optalitix,added: “With Optalitix Models their pricing engine, actuaries can build andhost models in Python, Excel, R,or any other API-enabled platform. It offerssimple integration and requires no additional coding to get models running upto 30 times faster.”

The latest release of the underwriting workbench, OptalitixQuote, utilises the next-generation technology Flow that was specifically builtfor underwriters. Optalitix can provide one of their pre-made, streamlinedworkflows to improve efficiency or adapt the process to meet insurers’ specificneeds, quickly and easily. It brings disparate systems together and withexciting new features such as portfolio projections, geo-mapping, and smarttriaging, it will help insurers’ underwriting departments become future-ready.

Finally, insurance executives can use Optalitix’s RiskVision component to obtain vital, instant insights on exposures and outstandingquotes. They will see key metrics on operational performance and foresight ofrisk outcomes, acting as a mission control for executives to make rapid,well-informed decisions without distracting underwriting teams from otherimportant tasks.

The announcement follows on the heels of the new partnershipbetween Optalitix and pricing InsurTech Quantee, where the two companies areworking to create a solution that will enable insurers to quickly quote forbusiness on aggregator sites, making it easier and more cost-effective toaccess customers.

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