Optalitix, a leading provider of cloud-based pricing and underwriting solutions, is pleased to announce its partnership with CannGen Insurance Services, LLC (CannGen), a pioneer in providing tailored insurance products to the cannabis, CBD, and hemp industries
As the first Managing General Underwriter (MGU) exclusively serving the legalised cannabis industry, CannGen has established itself as a trailblazer in addressing the unique risks and exposures faced by these markets. Through this partnership, Optalitix has onboarded CannGen onto its Models and Quote platforms, enhancing their operational efficiency and pricing accuracy across the USA, Canada, and Europe.
Optalitix has digitised and integrated CannGen’s existing pricing models into the Models platform and connected them to Optalitix’s Quote system. By developing custom workflows tailored to CannGen’s pricing needs, Optalitix is transforming previously manual processes into a seamless, centralised digital operation.
Looking ahead, CannGen benefits from the elimination of manual data entry into Excel, with quote requests being fed directly into the Quote platform. The pricing models are automatically updated and centrally stored, creating a ‘single source of truth’, with document generation, integrated dashboards, comprehensive data analytics, and actionable insights for CannGen’s underwriting teams.
Chris Jones, President & COO at CannGen, shared his perspective: “As the President and COO, I’ve been impressed by Optalitix’s professionalism and clear communication. Their ability to adapt our familiar Excel-based processes into a modern platform, while maintaining user comfort, is particularly noteworthy.”
Alex Gurr, Head of Business Development at Optalitix, added: “This collaboration is an exciting step forward for both companies. By digitising CannGen’s pricing systems, we are not just improving efficiency but helping to set a new standard for underwriting in emerging industries like cannabis.”
The ambitious implementation went live in stages across the USA, Canada, and Europe, with all systems operational on 16 December 2024. The rollout was structured into three key phases: requirements and analysis, build and User Acceptance Testing (UAT), and Go-Live.
For CannGen, Optalitix brings secure, cloud-based storage for pricing models and documentation, improved editability and control over pricing operations, time and cost savings from reduced manual workflows, and an enhanced ability to analyse and adapt to industry trends using real-time data.
For Optalitix, this partnership expands its footprint into the North American market, offering opportunities to gather valuable feedback and refine its systems to meet diverse global requirements.
gather valuable feedback and refine its systems to meet diverse global requirements.
