Iotatech & Optalitix Fine Tune That Excel Proposition

Tech companies Iotatech and Optalitix announce new proposition to give insurers competitive advantage.

Iotatech, provider of a pay-per-use insurance platform, and Optalitix, which creates systems programmed in Excel, have launched a joint product for clients using the Iotatech Platform. Iotatech clients can now programme their insurance systems using Excel models.

According to Dani Katz, co-founder of Optalitix, this allows insurers to create smarter pricing, renewal and claims services at a much lower cost than any other provider. Moreover, no system developers are needed and the system can be scaled up to service massive client volumes using the Cloud.

Dani explained: “This gives Iotatech clients a significant competitive advantage due to the speed of change and ability to adapt their pricing and retention algorithms more quickly in the market, with no coding needed.”

He added: “It will remove system bottlenecks and create a community of Excel users within insurers that are able to programme large systems using their business knowledge.

Areas where significant benefits can be realised by Iotatech customers include:

· Configurable underwriting rules allowing clients to adapt more quickly to risk and market conditions.

· Personalised messaging to increase renewal rates,

· Targeted, personalised discounts to improve sales conversion,

· More accurate reserving,

· Improved claims management at first notification of loss and smarter fraud prevention,

· Personalised customer journeys to create a better customer experience,

· Customised commission calculations improve broker personalisation

Ahmad Mosa, Iotatech CTO said: “This successful collaboration with the Optalitix team, integrating our modern SaaS solutions through Iotatech’s configurable integration service could not have been easier. I am confident that our clients adopting this method of building models and algorithms will more easily solve complex business problems, adding competitive advantage to their businesses”

Dani Katz said: “We look forward to creating real innovation and value for Iotatech’s clients that can now use spreadsheets to create valuable insight in the insurance process.”

About alastair walker 10896 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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