Optalitix upgrades flagship product with new Model Monitoring feature

Optalitix has revealed an upgrade to its flagship product, Optalitix Models, with the launch of a powerful new feature, Model Monitoring.

This enhancement, made possible by integrating Google Cloud’s latest system tracking technologies directly into the Optalitix Models platform, introduces real-time tracking of insurance pricing models, providing visibility into model usage, accuracy, and reliability.

Optalitix has also reportedly upgraded its underlying modelling system to deliver a 70% increase in model performance speed.

“Model Monitoring gives insurers new capabilities to allow Optalitix to proactively monitor model health and performance. From detecting errors and usage anomalies to accelerating model optimisations, this innovation enables insurers to reduce model risk and operational costs while increasing governance and insight,” the firm added.

Ricky Jayes, Product Manager for Optalitix Models, commented, “This change is groundbreaking for our clients, giving them far deeper insight and awareness of the performance of their entire model estate.

“There are no other trackers in the market like this that enable insurers to monitor their Excel, Python, R, and other pricing model performance.”

Dani Katz, Founding Director of Optalitix, said, “We believe the inclusion of a single source for model monitoring for insurers’ entire model estate, including their Excel, Python, and R models, is a world first.

“Optalitix is committed to providing groundbreaking technology to help insurers manage their advanced model estates.”

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