Tokio Marine HCC International has partnered with Optalitix, a provider of data analytics and pricing solutions, to modernise its underwriting and pricing processes in the London Market.
The collaboration aims to streamline Tokio Marine’s underwriting operations, improve pricing sophistication, and optimise risk insights. By leveraging Optalitix’s technology, the firm seeks to enhance efficiency and accuracy in its underwriting models, according to the Coverager.
As part of the partnership, all Tokio Marine pricing models for its London Market division will be transitioned to the Optalitix underwriting platform over the next two years.
This move is expected to drive digital transformation within Tokio Marine’s operations, equipping underwriters with more precise and data-driven pricing tools.
Tokio Marine believes that integrating Optalitix’s platform will enable it to meet the demands of an evolving market by refining its pricing strategies and strengthening risk assessment capabilities. The implementation of a digital-first pricing model will also improve the overall experience for underwriters, allowing them to make faster and more informed decisions.
Richard Dixon, head of London Market pricing at Tokio Marine, 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.”
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