iotatechpay-per-use insurance platform provider, and Optitixthat creates systems programmed in Excel, have launched a joint product for customers using the Iotatech platform.
Iotatech customers can now program their insurance systems using Excel models.
According to Optalitix co-founder Dani Katz, this allows insurers to create smarter pricing, renewal and claims services at a much lower cost than any other provider. Aside from that, No system developers are needed and the system can be scaled using the cloud to serve huge client volumes.
Dani explained, “This gives Iotatech customers a significant competitive advantage due to the speed of change and the ability to adapt their pricing and binding algorithms to the market faster without the need for coding.”
He added: “It will remove system bottlenecks and create a community of Excel users within insurers who are able to program large systems with their business knowledge.
Areas where Iotatech customers can achieve significant benefits include:
- Configurable underwriting rules that allow clients to adapt more quickly to risks and market conditions.
- Personalized messages to increase renewal rates,
- Targeted, personalized discounts to improve sales conversion,
- more precise reservation,
- Improved claims management from the first claim and smarter fraud prevention,
- Personalized customer journeys to create a better customer experience,
- Custom commission calculations improve agent personalization
Ahmad Mosa, CTO of Iotatech, 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 by adopting this method of building models and algorithms, our customers will be able to solve complex business problems more easily and give their organizations a competitive advantage.”
Dani Katz said: “We look forward to creating real innovation and value for Iotatech’s customers, who can now use spreadsheets to gain valuable insights into the insurance process.”
https://techround.co.uk/startups/iotatech-and-optalitix-announce-new-proposition/?utm_source=rss&utm_medium=rss&utm_campaign=iotatech-and-optalitix-announce-new-proposition Technology companies Iotatech and Optalitix announce a new offering to give insurers a competitive advantage