Reinsurance News

Lloyd’s syndicate Verto partners with Optalitix to enhance offering

18th March 2022 - Author: Katie Baker

Verto syndicate 2689 (Verto), a follow-only Lloyd’s syndicate, has partnered with Optalitix, an insurtech company providing SaaS software to leading insurers in the UK, to innovate the Lloyd’s market using a fully digital pricing system with full AI capability.

Embracing AI and rapid algorithm development through the Optalitix Quote product will enable Verto to seamlessly identify the best risks available in the market and boost returns for Verto’s investors.

Lloyd’s new digital and data capabilities provide an opportunity for insurers that have fully digital pricing processes to create faster underwriting processes that improve risk selection.

Verto is pioneering digital innovation and will benefit from the enhanced pricing insight and oversight as well as the improved efficiency in the underwriting process offered by the Optalitix Quote system.

Chris Sharp, active underwriter at Verto, said: “We are excited to be able to enhance Verto’s offerings as a digital-first Lloyd’s entity that can maximise on the opportunity presented by the Lloyd’s initiatives.”

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Dani Katz co-founder of Optalitix added: “We look forward to boosting Verto’s capabilities in the new, digital market emerging in Lloyd’s, and innovating further using the Optalitix Quote product suite.”

Verto use “Optalitix Quote” which was developed to help insurers move from a spreadsheet system to a fully digital one. Optalitix Quote has integrations designed for the London Insurance Market, allowing clients to rapidly integrate and scale.

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