Better pricing
Optalitix Quote allows companies to boost their pricing effectiveness by connecting to external data enrichment services, providing geomapping capabilities, reducing risk concentration and enabling data analysis. Insurers like Dale, Hampden Risk Partners, Yulife and Onespark use Optalitix Quote to enhance their pricing across multipe business lines.
Boost efficiency
Optalitix Quote boosts your underwriting efficiency, allowing companies to issue more quotes. It speeds up the pricing process by integrating with quoting systems, pricing models and insurance administration systems, ensuring data is only input once. Pricing operations are tracked and pricing controls are flexibly applied.
Use your Excel models
Optalitix Quote is the only underwriting workbench that allows underwriters to embed their existing Excel pricing models in a no-code solution, reducing the system development time and the speed to market. It takes only 5 minutes to upload your pricing models to the system which speeds up model deployments and updates.
Reduce loss ratio and expense ratio
The impact of this type of pricing modernisation can reduce both claims and expense loss ratios, especially for companies that are only using Excle, and are not yet using modern cloud infrastructure. The claims improvement is caused by loss avoidance, reduced risk concentration (as risk exposure can be measured in real time) and improved risk governance due to quote and sales dashboards.
High return on investment
Using an underwrtiting workbench platfrom like Optalitix Quote significantly reduces the cost of system development as the platform cost is "shared" by multiple insurance providers. In addition, the platforms experience continual improvements as new features are added. The result is a return on investment (ROI) that is well in excess of 10x.
Benefits
- Better pricing using enriched insights and geo and risk system integrations.
- Enhanced efficiency increases quote volumes while maintaining oversight.
- Get an ROI greater than 10x the software investment.
- Capitalise on your existing investment in Excel pricing models, as well as other models.
- Reduce loss ratios and boost profitability.
