Real-Time Risk Insight with Optalitix’s Risk Vision Dashboard
There is so much more volatility in the insurance environment today, with the growing trend of risk events such as natural catostrophes and geopolitical unrest having an outsided impact on insurers. To manage risk and compete effectively. insurers need to make informed decisions on risks as they unfold. Real-time access to exposure and risk information isn’t just an advantage—it’s essential.
However, for insurers pricing using traditional spreadsheet models, tracking outstanding quotes and understanding the total risk landscape can be challenging, as these quotes often sit outside of Policy Administration Systems (PAS) and exposure management systems. This gap leaves insurers with limited visibility into their exposure, especially for future risks that reside in unconfirmed quotes.
Optalitix Models changes the game by transforming pricing models into real-time data feeds, which flow directly into Optalitix Quote’s Risk Vision dashboard. This advanced dashboard provides insurers with a comprehensive overview of both bound and quoted risks, ensuring that senior managers have the tools they need to track and manage risk effectively.
Risk Vision Dashboard Key Features
With the Risk Vision dashboard, clients gain a real-time view of key metrics:
- Number and Value of Quotes Issued
Keep track of all quotes issued and their respective values. - Quote Conversion Rates
Understand the success rate of quotes converting into bound policies. - Risk Concentration
Visualise concentration risks by geography, client, and line of business. - Risk Appetite Comparison
Quickly see how current risks align with the company’s risk appetite, supporting informed decision-making. - Summarised Risk Views
Detailed breakdowns by line of business, broker, company, region, and catastrophe zones. - Data Enrichment and Risk Visualisation
Enrich quote data with third-party sources to assess risks such as natural catastrophe exposure or concentration risks.
Benefits of Optalitix’s Risk Vision Dashboard
- Enhanced Quote Performance Insight: The dashboard offers deep analysis of quote activity and performance, supporting accurate forecasting.
- Better Risk Management: A centralised view enables managers to make quicker, more informed risk decisions and respond proactively.
- Comprehensive Risk Portfolio Visualisation: From mapping summaries to key risk overviews, users gain a clear visual of their risk exposure across the portfolio.
- Progress Tracking Against Plan and Risk Appetite: Real-time tracking of metrics ensures alignment with business goals and risk tolerance levels.
- Portfolio Steering Based on Emerging Outcomes: The dashboard’s scenario planning tools allow managers to explore potential future impacts on the portfolio.
- Integration with Exposure Management Systems: Seamless data integrations bring all relevant data into one platform for more robust risk analysis.
- Quick Implementation with Pre-Built Templates: Pre-existing dashboard templates accelerate setup, making it easy to go live.
- Customisable for Client-Specific Needs: Flexible configurations allow clients to tailor the dashboard to meet their specific needs.
Supercharge insurance portfolio management with the Risk Vision dashboard
With Optalitix’s Risk Vision dashboard, clients gain a powerful tool to monitor, assess, and respond to risks in real time. This end-to-end view of both bound and quoted risks ensures insurers have the insights they need to maintain a competitive edge and keep risk aligned with strategy.
