Optalitix Brings Enhancements To Underwriters To Boost Underwriting Performance And Growth

April 2, 2024

InsurTech Optalitix, the insurance underwriter software provider, today announced significant enhancements to its Optalitix Models and Optalitix Quote products at a breakfast briefing at Lloyd’s, with guest speakers John Neal, CEO of Lloyd’s, and Matthew Grant, partner of InsTech.

Optalitix works with Lloyd’s and major insurers, delivering market-leading products that are already being used to underwrite billions of pounds’ worth of premium. Now their software comes with even more powerful features and enhancements to add value to underwriters, actuaries, and executives.

“Optalitix is already recognised by Lloyd’s and major insurers for its market-leading products, which enable insurers to manage risks better, with pricing models that boost underwriting performance, increase efficiency, and reduce costs. This latest launch of Optalitix Quote takes these capabilities to the next level, giving our clients a powerful competitive edge,” said Dani Katz, Co-founder and Director of Optalitix.

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

The latest release of the underwriting workbench, Optalitix Quote, utilises the next generation technology Flow that was specifically built for underwriters. Optalitix can provide one of their pre-made, streamlined workflows to improve efficiency or adapt the process to meet insurers’ specific needs, quickly and easily. It brings disparate systems together and with exciting new features such as portfolio projections, geo-mapping, and smart triaging, it will help insurers’ underwriting departments become future-ready.

Finally, insurance executives can use Optalitix’s Risk Vision component to obtain vital, instant insights on exposures and outstanding quotes. They will see key metrics on operational performance and foresight of risk outcomes, acting as a mission control for executives to make rapid, well-informed decisions without distracting underwriting teams from other important tasks.

The announcement follows hot on the heels of the new partnership between Optalitix and pricing InsurTech Quantee, where the two companies are working to create a solution that will enable insurers to quickly quote for business on aggregator sites, making it easier and more cost-effective to access customers.