The tricky issue of pricing is all about data – and partnerships. Because the right data from multiple sources is more likely to price risk accurately. Here’s the word from Optalitix;
Insurtech Optalitix, the insurance underwriting software provider, today announces a strategic partnership with PwC to deliver enhanced implementation services and support to users of Optalitix Quote, the company’s premier underwriting and pricing platform for insurers.
This partnership will combine Optalitix’s cutting-edge insurance technology with PwC’s renowned actuarial expertise and specialist contract services in the insurance sector, with a focus on insurers at Lloyd’s and in the London Market.
As a result, insurance clients will benefit from expedited implementation, enhanced pricing model templates, customised training programs, and comprehensive support packages that optimise software performance and alignment with their underwriting and pricing objectives.
Dani Katz, co-founder of Optalitix, said: “I’m excited to be able to offer Optalitix’s clients PwC’s actuarial advice and assurance on our system, giving them more certainty on the quality of the pricing models used and helping them to complete their build sooner.
“PwC is incredibly well respected in the insurance industry, and PwC’s actuarial team are highly skilled in Optalitix products and professional in their work, giving our clients a valuable option for any Optalitix pricing transformation project.”
Mohammad Khan – Partner – General Insurance, PWC, said: “We are thrilled to announce this strategic collaboration between Optalitix, a leader in underwriting software for insurers, and PwC, a globally recognised leader in professional services and consulting, including in the insurance sector.
“Together, we are committed to elevating our clients’ pricing and underwriting operations by providing significantly enhanced insights and governance over their pricing strategies, unparalleled flexibility in deploying pricing models, and improved accuracy in their pricing processes.”
Specialist consultants at PWC have been trained on Optalitix’s products ahead of the partnership launching in January. This will enable them to help clients review their existing pricing systems, plan for their pricing transformations, and assist in pricing model improvements and developments.
PwC will gain from the ability to deploy Optalitix pricing models, while Optalitix will gain from the ability to offer pre-built PwC pricing models and templates on Optalitix models which will help their clients to develop their systems faster.
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