Optalitix partners with Tokio Marine HCC to transform London market pricing

Insurtech firm Optalitix, specialising in data analytics and pricing solutions, has partnered with Tokio Marine HCC International (TMHCCI), a recognised specialty insurer, to enhance its London Market underwriting and pricing systems.

Optalitix’s advanced platform was chosen to deliver a faster and more adaptable solution for digitising and improving pricing accuracy across various business lines.

This partnership enables TMHCCI to streamline its underwriting processes, enhance pricing sophistication, and optimise risk insights, all while maintaining the critical judgement of its underwriters.

The initiative marks a shift toward a more integrated, data-driven framework for TMHCCI. Centralised model management by actuaries will provide improved analytics and insights, while underwriters will gain access to real-time data and a seamless, connected workflow.

By adopting this flexible digital underwriting platform, TMHCCI’s London Market division will benefit from increased pricing speed and precision, advanced risk insights, and enhanced system performance. Additionally, centralised quote tracking will enable the company to manage its expanding portfolio more effectively.

This modernised approach is set to improve capital management, offering TMHCCI the agility to respond to shifting market conditions and ensuring the company remains competitive in the evolving insurance landscape.

Richard Dixon, Head of London Market Pricing at TMHCCI, said: “Optalitix has impressed us with their professionalism and the flexibility of their platform. This partnership marks an exciting step forward as we digitise our
pricing models to meet the needs of an evolving market.”

Alex Gurr, Head of Business Development at Optalitix, added: “We are thrilled to partner with the London Market division of TMHCCI to drive digital transformation in their pricing systems. By improving the experience for underwriters and enhancing pricing precision, we are setting a new data-driven pricing solution standard.

“This collaboration underscores Optalitix’s credentials as a trusted partner in the London Market, paving the way for expanded offerings and new innovations tailored to the London Market’s complex needs.”

The partnership will involve migrating all of TMHCCI’s pricing models for its London Market division to the Optalitix underwriting platform over the next two years.

This phased implementation, set to commence in the coming months, will greatly enhance the speed and accuracy of quotes while allowing for the smooth deployment of complex pricing models.

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