Unlock the Power of API-Enabled Models with Optalitix: Simplifying Integration, Scaling, and Governance
For insurers and lenders, accurate and flexible pricing models are vital for success. Yet, with the number of pricing platforms, external models, and data sources available today, integrating these tools into a cohesive system can be complex. Optalitix Models changes the game by enabling seamless connections to any model or data source with API access, making it easier than ever to leverage a range of pricing models without extensive coding or integration hassles.
With Optalitix Models’ advanced API capabilities, insurers can create a fully connected ecosystem of models that enhance collaboration, increase scalability, and improve governance. Here’s a closer look at how our API-enabled features empower insurers to build a more agile and connected pricing infrastructure.
1. Easy Connections to Any API-Enabled Model
APIs (Application Programming Interfaces) have become a standard feature in modern models, external pricing platforms, and databases, providing a straightforward way to share data and connect systems. Optalitix Models makes it easy to link any API-enabled model to our platform, meaning users can seamlessly integrate external models with little to no manual coding. This flexibility allows insurers to fully utilise their existing tools and enhance their pricing capabilities without the typical challenges of model integration.
2. Auto-Discoverable API Feature for Effortless Integration
One of the most innovative features in Optalitix Models is its auto-discoverable API function. This feature automatically identifies the inputs and outputs of any API-enabled model, generating the necessary connection code on its own. With this feature, insurers can integrate new models into their pricing process without needing developer support, enabling a smoother, faster, and more accessible integration. The auto-discoverable API takes the guesswork out of integration, allowing pricing teams to focus on strategy rather than technical setup.
3. Automatically Generated Web Forms and Integration Code
Optalitix Models goes beyond simply connecting to APIs. Once an API-enabled model is integrated, the platform automatically creates web forms and integration code to help external developers to integrate the model based on the model’s inputs and outputs. This feature allows teams to scale their models easily, making them accessible to all relevant systems, team members and stakeholders. With intuitive web forms, users can interact with models and input data directly, streamlining the process and ensuring that models are being used to their full potential.
4. Composite Model Structures for Greater Flexibility and Capabilities
In today’s complex pricing landscape, single models often aren’t enough to address the full range of requirements. Optalitix Models allows users to create composite model structures by connecting multiple models and data sources, enabling model chaining and expanding the possibilities for insurers. For instance, teams can connect a pricing model in Python with an external data enrichment API and then connect it to a spreadsheet model, combining multiple sources to enhance the accuracy and relevance of their pricing. This flexibility allows insurers to get creative with their pricing strategies, leveraging all available data to build more sophisticated models.
5. Enrich Quotes with External Data Sources
With Optalitix Models, connecting external data to enrich quotes is a seamless process. By integrating external APIs into the model structure, insurers can access up-to-date information from third-party providers, enhancing their quotes with relevant data in real time. This approach not only improves pricing accuracy but also provides more contextual information for underwriting, resulting in smarter, data-driven decisions.
6. Comprehensive Model Governance and Usage Tracking
Ensuring proper governance across multiple models is critical for compliance, transparency, and operational effectiveness. Optalitix Models makes it easy to track the usage of all models connected to the platform, offering insights into who is using each model, how often, and in what capacity. This centralised tracking improves accountability, enabling insurers to understand model performance and usage patterns across the organization. Improved governance means better decision-making, a clearer view of model efficacy, and confidence that your pricing models are secure, compliant, and optimised.
Compatible with every API-enabled model
With Optalitix Models, insurers can fully embrace the power of API-enabled models, creating a connected ecosystem that simplifies integration, scales effortlessly, and fosters collaboration. Our platform’s auto-discoverable API feature, composite model capabilities, and robust governance tools empower insurers to build a flexible, future-proof pricing infrastructure that meets today’s demands and anticipates tomorrow’s opportunities. Discover how Optalitix Models can take your pricing capabilities to the next level.
