Insurtech Optalitix has announced a major expansion of its flagship pricing platform, Optalitix Quote, unveiling advanced features specifically designed to address the complex pricing and risk analysis needs of the reinsurance market, including both current and new Optalitix clients.

Optalitix Quote is already widely trusted by insurers and MGAs. This latest expansion, however, now empowers reinsurers to model complex treaty and facultative reinsurance quotes, streamline
quoting processes, and enhance pricing accuracy in a unified platform.

“The new reinsurance features are a game changer for reinsurers,” said Dani Katz, Co-founder of Optalitix. “The flexibility and connectivity of the platform enable reinsurance pricing on a single platform, and ensure models and data is stored to provide more insight and oversight into the pricing process.”

The new expansion is already delivering results. Early adopters such as Pool Re have reported writing over £250 million of business in just three months, demonstrating the platform’s capacity to significantly increase quoting efficiency. Before Quote was installed, there was a long manual process required to bind quotes and capture them in their accounting system.

The expansion is tailored for reinsurers offering a host of new capabilities that include:

• Claims and premium ingestion: upload, validate and analyse historic treaty data using intuitive dashboards across multiple dimensions (e.g. by year, region, risk type)
• Claims modelling: generate IBNR projections and simulate losses using claims distributions to enable better pricing of non-proportional cover.
• Dynamic pricing tools: estimate premiums for diverse reinsurance structures using advanced modelling options, enabling more “what if” scenarios.
• Underwriter-ready outputs: produce visual, easy-to-use reports to support negotiation and decision-making by underwriters
• Embedded analytics: store all quote data in accessible analytics databases for analysis, and integrate data with AI tools

The upgrade enables Optalitix clients to unify their pricing and quoting processes within a single system, removing the need for fragmented pricing systems and enhancing the storage and quality of pricing data.

Users can now integrate mapping and natural catastrophe data to gain deeper insights and enhance risk assessments. AI pricing tools can also be connected via APIs, offering enhanced quote ingestion and increased underwriter efficiency.

Additional benefits include simplified workflows, reduced complexity, and improved pricing accuracy with external data enrichment.