Insurtech Optalitix, a leader in data analytics and pricing solutions, is pleased to announce its partnership with Tokio Marine HCC International (TMHCCI), a globally recognised speciality insurer, to enhance its London Market underwriting and pricing systems.
Optalitix's innovative platform was selected to provide a faster, more flexible way to digitise and improve pricing precision across multiple business lines.
The collaboration enables the London Market division of TMHCCI to streamline its underwriting process, enhance pricing sophistication, and optimise risk insights, all while preserving underwriters’ expert decision-making capabilities. In addition, the ability to track quotes centrally improves the company’s ability to manage its growing portfolio.
The initiative represents a shift for TMHCCI to a more integrated and data-driven system. Actuaries will manage and deploy models centrally, delivering improved analytics and insights, while underwriters will benefit from real-time data and a connected workflow.
The London Market team of TMHCCI will gain a flexible, digital underwriting platform that enhances pricing speed, accuracy, and system performance. Advanced risk insights will also improve capital management and ensure the agility needed to respond to evolving market trends.
Richard Dixon, Head of London Market Pricing at TMHCCI, added: "Optalitix has impressed us with their professionalism and the flexibility of their platform. This partnership marks an exciting step forward as we digitise our pricing models to meet the needs of an evolving market."
Alex Gurr, Head of Business Development at Optalitix, said: "We are thrilled to partner with the London Market division of TMHCCI to drive digital transformation in their pricing systems. By improving the experience for underwriters and enhancing pricing precision, we are setting a new data-driven pricing solution standard.
“This collaboration underscores Optalitix's credentials as a trusted partner in the London Market, paving the way for expanded offerings and new innovations tailored to the London Market’s complex needs.”
The partnership will see all of TMHCCI's pricing models for its London Market division transition to the Optalitix underwriting platform over the next two years. The phased implementation is set to begin within months, significantly improving the speed and accuracy of quotes while enabling seamless deployment of complex pricing models.
The collaboration between TMHCCI and Optalitix highlights the evolving role of technology in insurance, enhancing risk selection, pricing governance, and operational efficiency.
