Insurtech company Optalitix has introduced an expansion of its pricing platform, Optalitix Quote, aimed at the reinsurance market.
The company says the new version is already being used in practice. Pool Re, an early adopter, reported writing more than £250 million of business in the first three months.
Before implementation, its quoting process relied heavily on manual steps to bind and record quotes, which Optalitix Quote has since automated.
The expansion brings in functions such as the ability to upload and review historic treaty data, produce claims models and IBNR projections, and run pricing scenarios for different reinsurance structures.
Outputs are designed to be more usable for underwriters, with reporting that supports negotiation and decision-making. Data is stored in a format that can be analysed and linked with external systems, including AI tools.
Other updates include the option to connect mapping and natural catastrophe data for risk assessments and the ability to simplify quote ingestion through APIs. According to Optalitix, these changes are intended to reduce complexity in reinsurance pricing and provide more consistent data handling.
“The new reinsurance features are a game changer for reinsurers,” commented Dani Katz, Co-founder of Optalitix. “The flexibility and connectivity of the platform enable reinsurance pricing on a single platform, and ensure models and data is stored to provide more insight and oversight into the pricing process.”
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