Quantee inks partnership with insurtech to provide ‘ready to use’ pricing

Pricing platform insurtech Quantee has entered a partnership with software company Optalitix, to offer insurers a “ready to use” pricing product designed to give quicker quotes to retail customers.

The organisations are working on a proposition that aims to enable insurers to quickly quote for business on aggregator sites, providing an easier and more cost effective way to access customers. The firms expect to complete their proposition in Q2 this year.

Scott Holmes, Quantee sales director for UK and Ireland, said: “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.”

‘Great synergy’ 

Optalitix Quote, the technology company’s underwriting workbench, allows underwriters to embed pricing models into their existing workflows.

The integration of Optalitix Quote with Quantee’s pricing engine therefore aims to offer accurate pricing and optimisation at scale for high volume retail insurance products, such as motor, home and travel.

Holmes added: “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, specialty and personal lines insurance markets. There is also [a] great synergy between the two teams, with aligned strategies and objectives for the benefit of all parties.”

Benefiting both businesses

For Optalitix, the partnership will enable it to expand from its core Lloyd’s market client base to access high volume retail insurance clients.

Meanwhile, Quantee will benefit from gaining easier access to Lloyd’s market clients that need high volume pricing capabilities.

Dani Katz, co-founder and director of Optalitix, said: “We are very excited to announce our partnership with Quantee, giving our clients access to [its] industry-leading pricing capabilities to enable our customers to quote on motor, home and travel insurance, in addition to our commercial insurance pricing capability.”