Optalitix Models

A Year of Challenges and Opportunities

Learn about Mass Challenge – a US based start-up accelerator

Onespark use case: Improving website UX with cloud-based integrated pricing calculators

Optalitix celebrates 10 years!

Optalitix products now available on Google Cloud Marketplace

Identifying Unwanted Bias in Machine Learning

With human-made models comes human-biases, machine learning models are inclined to reflect the biases of the team who built it and the data it is fed.

Create a claims triage system using Excel logic

With claims, departments need to be able to filter out valid claims and pay them quickly amongst other tasks. See how Excel helps make a claims triage system.

Create a pricing application from a spreadsheet pricing model

When setting a price for a new product, the starting point is almost always Excel. Find out how to create a pricing application from a spreadsheet pricing model here.

The Top 5 Strangest Uses of AI

Whilst AI has transformed many essential areas of society, some have also begun to use its technology for the weirder. Take a look at some odd uses of AI here.

Underwriters – valued professionals acting as risk gatekeepers

What does an underwriter do on a daily basis? Discover the role underwriters play, how technology plays a key part in the underwriting process and more here.

Optalitix partners with First Street to enable insurers to incorporate climate risk data into their underwriting

We help insurers incorporate unique datasets into their underwriting process, thereby ensuring quotes are appropriately priced in response to a changing climate.

How to Become a Data Scientist

When pricing a new product, the starting point is almost always Excel. Learn how to create a pricing application from a spreadsheet pricing model here.

Insurance innovation – what will 2022 bring?

What might we expect for insurance in 2022? From digital insurance marketplaces to wellness products and profitability, read our predictions and more.

Verto syndicate 2689 and Optalitix announce partnership - Press Release

Verto syndicate 2689 (Verto), a follow-only Lloyd’s syndicate, and Optalitix, an award-winning Insurtech company providing SaaS software to leading UK insurers.

Join Optalitix for an InsTech webinar on how insurers are using underwriting workbenches

We are excited to be taking part in a thought-provoking InsTech webinar on 26th March

Meet Optalitix at MGAA 2024

The Power Of Partnerships - looking at the importance of collaboration and effective communication in driving the future growth

Optalitix partners with Quantee to offer next generation underwriting and pricing

To offer insurers a ready-to-use pricing product that enables quick access to price retail customers online and via aggregators

8 ways that data can power your business

Using your data better can help business managers see more, know more and do more. Take a look at beneficial data uses that businesses can adopt in this guide.

How do machine learning models work?

There are a variety of regression and classification models within both the supervised and unsupervised categories of machine learning, a type of AI.

The role of an underwriter should not be underestimated

The multi-faceted contribution an underwriter makes to any insurance business transcends simply assessing risk. Read more about underwriting and the impact of it.

The emergence of digital exchanges in the London Insurance Market

The Optalitix team were invited to contribute to a discussion where the digitisation on the underwriting process for the London Market. Read our insights here.

Optalitix selected to participate in Lloyds Lab

The Optalitix team are delighted to have been selected to participate in cohort 4 of the Lloyds Lab. Read more about their application and success in this guide.

Why Underwriters Matter in Our AI-Driven World

Insurance underwriters still play an important role on the London insurance market despite the increasing use of AI, read more on our website.

The Optalitix Round-up: Spring 2024

The first quarter of 2024 has been amazing for us and our clients thanks to us leading groundbreaking developments in our industry. Read more now.

Optalitix brings enhancements to underwriters to boost underwriting performance and growth

The introduction of Optalitix Quote’s new Flow technology enables flexible underwriting workflows thanks to the new Risk Vision dashboards. Learn more now.

Optalitix powered United Trust Bank’s step into the future with instant mortgage decisioning

The mortgage market is always changing. Few banks are able to offer an instant decision on a mortgage, yet the United Trust Bank (UTB) is one of them. Read more.

Meet Optalitix at Insurtech Insights EU 2024

The Insurech Conference connects insurers and investors, offering an unparalleled experience and access to industry innovators. Explore 2024 Conference insights!

Holiday AI Thoughts

The key to selling is to establish a relevant dialogue and understanding with your clients. Find out how AI systems can be used to target the right consumers.

How is AI used in financial services?

The financial services industry is being transformed by AI. Learn how AI is used as robo-advisory services, chatbots, and algorithmic trading in finance.

Big Data Processing for Multiple Insurers

The insurance sector is data rich and decisions are made quickly using real time data. Find out how GoCompare embraced AI to add value to their partner offering.

2023: A year of insurance disruption

The fluctuations in insurance news for 2023 are unexpected. Some companies are leaving following big losses, while others expect to see profits.

From data to decision: how insurers are using underwriter workbenches in 2024

The experience of early adopters has proven that underwriter workbenches can make insurance companies more productive

Meet Optalitix at Insurtech Insights EU 2023

The Insurech Conference connects insurers and investors, offering an unparalleled experience and access to industry innovators. Explore 2023 Conference insights!

How is machine learning used in finance?

The financial sector is increasingly using machine learning in order to be more accessible, efficient and provide a better customer experience overall.

FCA disrupts the insurance market

The FCA has changed the game for more established players in the insurance sector with its significant gear change in pricing for insurance business. Read more.

Learn about insurance innovation from the DIA conference

The Dia Munich Conference, in 2022, showcased cutting-edge insurance technology, highlighting the growing fusion of insurance and technology in mainland Europe.

Concerns Rise Over AI Racial Bias as Facial Recognition “Predicts Criminality”

The debate over racial bias in tech has been renewed as a US university claims it can predict criminality through facial recognition. Learn more in this guide..

Next Generation of AI Described as “Too Dangerous to Release” – Now Released

The Artificial intelligence tool Generative Pre-training Transformer (GPT-3) has gained much attention, but is the technology dangerous? Learn more now.

What is the AI industry worth?

The AI industry is estimated to be worth somewhere in the region of $5 trillion dollars, and this number is only set to increase in the future. Learn more here.

The future of systems with embedded Excel models

The ease with which Excel models can now be converted and the number available requires a new age of system design. Find out more in this guide.

Spreadsheet models need to go digital

Spreadsheets should move to cloud-based systems in order to benefit from rich features such as dashboards, databases and seamlessly integrated AI and automation.

Is the future of Lloyd’s algorithmic? - Part 1

Take a look at a report that considers the impact of algorithmic underwriting on Lloyd’s and the London Market where complex risks are often underwritten..

AI Used on Facebook and Twitter to Detect Foreign ‘Trolls’

Researchers claim to have trained a machine learning system to identify posts on social media that aim to manipulate political events. Read more in this guide.

Spreadsheet dependancy and pricing

Spreadsheets are frequently used for pricing due to their ability to build complex calculations quickly in a flexible coding environment. Read our guide now.

Optalitix Models integrates easily with Retool to create no-code apps from spreadsheets

Spreadsheet-based calculations representing real-world situations are referred to a models. See how to convert yours into usable application software here.

Is the future of Lloyd’s algorithmic? - Part 2

Smart Follow underwriting and the algorithmic technology will bring a revolution of improved pricing and lower costs to insuring large and complex risks.

Optalitix partners with Go.Compare to offer insurers a new pricing option

Optalitix Quote new pricing platform will get quicker and easier access to onboarding, faster set-up and ready to use quote infrustructure

AI Breakthrough Could Accelerate Machine Learning Development

Researchers achieved a new AI breakthrough whereby using light for performing computations can improve machine learning neural networks in speed and efficiency.

Get rid of the cr…p and do something Cool!

Read the valuable insights offered by Buster Tolfree the Commercial Director – Mortgages at a Tip-Talks event co-sponsored by United Trust Bank and Optalitix.

What are the four types of artificial intelligence?

Reactive machines, theory of mind, limited memory, and self-awareness are four main types of AI categories to be aware of. Read more about them in this guide.

Optalitix appoints Paul Hewitt to their Board following the investment into Optalitix by 24Haymarket

Paul Hewitt has been appointed to the Board of Optalitix, advising on insurance strategy, product development and industry partnerships. Read more in this guide.

Optalitix are Insurance Times Awards Gold Winner - Release

Optalitix wins the Gold award for Excellence in Technology – Service Provider (General) category at the 2021 prestigious Insurance Times Awards. Read more here.

Case study: Modernising and scaling Dale Underwriting Partners' underwriting process with Optalitix Quote

Optalitix Quote allows underwriters to keep their existing models and make changes and updates when required by providing speed and flexibility.

Optalitix Quote, the innovative new product for underwriters

Optalitix Quote is a new cloud product that enables underwriters using spreadsheets to improve their pricing processes. Learn more about it in this handy guide.

Optalitix Named Amongst Start-up Elite in the TechRound100

Optalitix is a finalist in the TechRound100, ranking in the top 100 UK start-ups that have been praised for their innovation. Learn about this competition here.

Optalitix raises £4m of funding for growth

Optalitix is an award-winning technology business that adds value to financial institutions with low code SaaS products, data analysis and AI models. Read more.

Dani Katz runs 18km as part of Optalitix Fundraising

Optalitix co-founder Dani Katz ran 18km as part of Optalitix’s fundraising efforts this summer. Read about how he did and the charities that Dani ran for here.

Pool Re partners with Optalitix to implement new treaty and claims management system

Optalitix announces it's partnership with Pool Re, the UK’s largest terrorism reinsurer, to implement a new, end-to-end treaty and claims management system.

Optalitix Provides Spring Finance with A New Mortgage Origination Platform

Spring Finance have chosen Optalitix, a leader in finance and Insurance software to provide them with a new mortgage origination platform. Read more on our website.

Convert pricing models using an Excel converter.

Optalitix have determined that using Excel converters to convert pricing models is the most efficient and effective method. Take a look at the features and more.

Optalitix & Avamore launching new lending platform using Optalitix Originate

Optalitix Client Avamore will be launching its new core lending platform using Optalitix Originate architecture. Read more about the platform and its targets.

Optalitix and Almagro Capital announce a new partnership that provides Almagro Capital with a rapid online quoting tool for its forthcoming expansion

Optalitix and Almagro Capital have agreed to partner to create improved pricing tools for Almagro and its brokers. Read more about their partnership in here.

Optalitix announces that it has achieved the prestigious ISO 27001 certification

OOptalitix announced it has achieved the prestigious ISO 27001 certification by implementing an Information Security Management System (ISMS). Read more here

New pricing standards at Lloyd's require improvements in underwriting systems

New principles for doing business at Lloyd’s will encourage syndicates to digitise their processes, especially underwriting. Find out more here.

Why are Insurers playing a guessing game?

Numerous insurers overlook advanced solutions. Ensure your company leverages valuable insights from its data to enhance the user experience with Optalitix!

How is AI being used in healthcare?

New AI technology from Microsoft and Google is able to detect diseases such as prostate cancer and diabetic retinopathy. Learn more the NHS's use of AI.

Optalitix Joins Google Cloud Partner Advantage Program

Market leaders in AI and machine learning solutions, Optalitix, announced it has joined the Google Cloud Partner Advantage Program as a Sell and Build partner.

Changes to FCA Insurance Pricing

New rules from 2022 ensure customers who are renewing their insurance policies receive a quote no more than they would be quoted as a new customer. Read more.

Learn about Lloyd’s Lab – an influential insurtech accelerator

Membership in Lloyd's Lab allowed Optalitix to scale up and develop innovative ideas in collaboration with the world's largest insurance market. Learn more now.

Will machine learning replace humans?

Machine learning technology has already started to replace humans, yet it has potential to create many opportunities and enable people to do their job better.

Case Study: Catastrophe Reporting - Lloyd's of London

Learn how the London market could benefit from greater levels of digitisation and automation by converting data into cloud-based systems using low code software

How does machine learning work?

Machine learning algorithms are a type of AI that can learn patterns and processes with minimal to no human intervention. Discover more about how they work here.

Fix the roof while the sun is still shining (podcast)

Listen to Dani Katz, Co-founder & Director of Optalitix talk about Insurance and Innovation with Matthew Grant

Optalitix powers Juniper launch into untapped reproductive health market

Juniper addresses a huge gap in the health insurance market by providing comprehensive health insurance, often excluded by other healthcare products.

Why cant lending be like Uber?

Lending is constantly changing with entrants, regulations and technology. Learn how technology can give businesses market leading edge like Uber in this guide.

Optalitix Models Use Cases

Insurance often involves using pricing models in spreadsheets. Use Optalitix Models to simplify processes by transforming these spreadsheets into a system.

Optalitix nominated as a finalist in the 2023 Insurance Times awards

Innovation award for Lloyd's reporting portal

Optalitix shortlisted for two awards

In the National Insurance Awards 2023 which showcases excellence in general insurance provision and management.

Iotatech and Optalitix announce the successful integration of their products providing significant added value to Iotatech’s clients

Iotatech and Optalitix are pleased to announce the successful integration of their platforms aimed at creating added value for clients of the Iotatech Platform.

The future of life insurance

In the past, choosing the right life insurance was an arduous task. Thanks to data analysis and algorithms, shopping for life insurance has become much simpler.

Building a pricing system from a spreadsheet

Have you got an Excel pricing model that you would love to turn into a system? Find out how to build a pricing system from a spreadsheet in our guide.

Hampden Risk Partners implements Optalitix Quote as their underwriting workbench

Hampden Risk Partners used Optalitix Quote to grow their capacity at Lloyd's

How to get underwriting efficiency. Workflow and the underwriting workbench

Improve underwriting efficiency with Optalitix's workflow and workbench expertise. Our tools handle various processes, quotes, and large underwriting departments.

Boost sales with an insight sales model

Generating sales will often cost time and money, particularly in the insurance sector. Learn how smart tools can help manage costs using Optalitix Models here.

Google’s AI Claims to Be Improving How It Recognises News and Misinformation

Google's Vice President, Pandu Nayak claims that Google is using AI to better understand news and misinformation. Read more about Nayak's theory in this guide.

The computable game - Part 1

Football stats and insights

AI and machine learning in a GDPR environment.

GDPR refers to the EU’s upcoming data protection regime. Find out whether the anonymisation of data, as prescribed by GDPR, would break AI models and more here.

What Industries Could AI Impact the Most?

From virtual health care assistants to driverless taxis, AI is transforming the way the world operates, making processes more productive and efficient. Read more.

Meet Optalitix at BIBA 2024

Explore ‘What’s next?’ in the insurance industry, and connect with brokers and others from the industry.

Elon Musk Predicts AI Will Overtake Humans in 5 Years

Elon Musk has recently claimed that Artificial Intelligence could overtake humans by 2025, and discussed these predictions in a New York Times interview.

Using insurtech to gain advantage as the market softens

Digital transformation is firmly on the market’s radar, but there is still a long way to go in the underwriting space

A practical guide to underwriting workbenches

Explore how our underwriting workbench aids insurers in handling incoming risks, monitoring their risk profile, and aligning management with their risk appetite.

Is AI taking jobs?

Developments in AI led to machines taking predominantly unskilled jobs, and this looks set to continue. Learn more about how AI is impacting the workforce here.

The Magic of AI

Demystifying AI is a challenge facing most businesses as automation and machine learning shift to being a necessity. Read more about the magic of AI here.

Hot Models

During Covid-19, AI or non-human solutions were being used to model potential outcomes and solutions. Read how this was done and the findings that came from AI.

DeepMind AI Explores How to Improve Chess

Deepmind is an AI company using machine learning to reinvent the game of chess as we know it, with the help of chess champion Vladimir Kramnik. Learn more here.

A meaningful connection. The next phase of API relationships.

Data analytics and API closely intertwine, but what is the next phase in their relationship? Learn more about this successful financial connection here.

Five reasons why pricing in the cloud will increase sales

Cloud based pricing ensures that everything from conversion to compliance is streamlined, efficient and controlled ultimately leading to increased sales.

Insurance quote personalisation is magic!

Dani Katz talks about how Optalitix can improve every aspect of the insurance business through better use of data, quotations and more. Read more in this guide.