How Does the Optalitix-PwC Partnership Benefit London Market Insurers?

December 11, 2024

In a significant strategic move, Optalitix, a specialist in data analytics solutions, has partnered with PwC to enhance implementation services for its underwriting and pricing platform, Optalitix Quote. This collaboration specifically aims at insurers operating within the London Market, especially those affiliated with Lloyd’s. The long-standing challenge of synchronizing advanced technology with actuarial expertise is being tackled head-on through this partnership, promising to bring about significant improvements in pricing model templates, customized training programs, and comprehensive support packages. Dani Katz, co-founder of Optalitix, highlighted that the actuarial team’s expertise at PwC would ensure that the pricing models are of the highest quality and that projects are completed in a timely manner, providing a much-needed boost to the industry.

Leveraging Expertise and Technology for Optimal Results

Through this collaboration, PwC consultants trained on Optalitix products will assist clients in evaluating and enhancing their current pricing systems. This initiative is a strategic move, allowing PwC to leverage Optalitix’s advanced pricing models. In return, Optalitix gains from PwC’s extensive collection of pre-built pricing models and templates, aiming to create more efficient systems. The main goal of this partnership is to streamline and optimize the underwriting and pricing processes for insurance companies, ensuring that the software performance matches their business objectives. By combining expertise in technology with actuarial science, this collaboration aims to foster a more agile and responsive pricing environment. This is crucial for remaining competitive in today’s rapidly evolving insurance industry. The partnership’s synergistic approach is likely to enhance the overall effectiveness of pricing strategies, making it a vital step forward in addressing the dynamic challenges insurers face in the market.

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