InsurTech Optalitix and dynamic insurance pricing platform Quantee have announced a strategic partnership aimed at revolutionising insurance pricing.
This collaboration aims to streamline the quoting process for insurers, making it easier and more cost-effective to access customers, especially on aggregator sites, according to FF News.
The partnership seeks to provide insurers with a ready-to-use pricing product, facilitating quick access to price retail customers online and via aggregators.
By integrating Optalitix Quote with Quantee’s pricing engine, insurers can expect accurate pricing and optimisation at scale, particularly for high-volume retail insurance products like motor, home, and travel.
Quantee and Optalitix are working together to provide a combined offering that will enable insurers, MGAs and brokers to benefit from market-leading pricing software in both the commercial and personal insurance markets in the UK.
With Optalitix’s core offering of specialist and commercial lines, combined with Quantee’s personal lines pricing solution, this now means the best of both worlds can be used in these markets, enabling insurers to take advantage of huge new benefits
Optalitix, known for its underwriting software, offers Optalitix Quote, an underwriting workbench allowing underwriters to embed pricing models swiftly, reducing system development time and speeding up market entry.
Quantee, on the other hand, provides a pricing engine that enhances the granularity and accuracy of pricing models.
Optalitix anticipates expanding its client base beyond the Lloyd’s market to serve high-volume retail insurance clients, leveraging Quantee’s industry-leading pricing capabilities. Similarly, Quantee sees an opportunity to tap into Lloyd’s market clients who require high-volume pricing capabilities.
Scott Holmes, Sales Director of Quantee, stated, “This partnership will add great value to our customers and help bring comprehensive solutions to insurers’ challenges around underwriting, data analysis, and pricing. We are looking forward to really getting started and seeing this partnership with Optalitix flourish.
“Through Quantee’s dynamic pricing platform, Optalitix customers can combine their data and underwriting solutions with our modelling and actuarial solutions. This provides combined added value, which can be utilised across commercial, speciality, and personal lines insurance markets. There is also great synergy between the two teams, with aligned strategies and objectives for the benefit of all parties.”
Dani Katz, Co-Founder and Director of Optalitix, added, “We are very excited to announce our partnership with Quantee, giving our clients access to their industry-leading pricing capabilities to enable our customers to quote on motor, home, and travel insurance, in addition to our commercial insurance pricing capability.”
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