Optalitix

Market position

Optalitix positions itself as an award-winning low-code pricing and underwriting platform for insurers, reinsurers and MGAs, working alongside rather than replacing core insurance systems. It cites recognition from the Fintech Innovation Lab, Lloyd's Lab, MassChallenge, Oxbow Insurtech 25, the Barclays A100 Award, a 2021 Insurance Times Awards Gold award for Excellence in Technology – Service Provider (General), and an Insurance Technology Provider of the Year award won with Pool Re.

The company emphasises that clients do not need to rebuild existing models: Excel, Python and R models are converted into governed cloud APIs in minutes to weeks using low-code setup, retaining model intellectual property in one controlled location. It combines this with enterprise governance (versioning, audit trails, approval workflows, regression testing, role-based access), scalability beyond spreadsheet limits, and integration with existing core systems rather than replacement.

Technology

A low-code cloud platform built on Google Cloud that converts Excel, Python and R models into scalable cloud APIs. Capabilities include native execution of spreadsheet and analytical models, chained model orchestration, GLM pricing connectors, parallel batch processing for high-volume runs, API and pre-built policy administration system integrations, external data connections, centralised model management dashboards, version control and change tracking, full audit logging of calculation inputs and outputs, regression testing, dedicated test environments and role-based access control. The company is ISO 27001 certified and offers AI features enabling natural-language interaction for underwriters and API connectivity to third-party AI platforms.

Go-to-market

The company markets directly to insurance and financial institutions through demo requests and expert consultations on its website, supported by content marketing (insights, blog, newsletters, events) and participation in accelerator and award programmes such as the Accenture Fintech Innovation Lab, Lloyd's Lab, MassChallenge and Oxbow Insurtech 25. It also works through partnerships and integrations with other technology and platform vendors, for example embedding its rating module into Avoca Risk's Octane trading platform and integrating with the Iotatech platform. Proceeds from its 2024 raise were earmarked for expanding sales capacity, marketing and product development.

Insurers, reinsurers, MGAs and London Market participants, plus banks and lenders. Buyer roles include actuaries, underwriters, data scientists, developers, IT and data leaders, and C-suite executives. Named customers include Vitality Health, Go.Compare, Lloyd's, S&P Global, Pool Re, YuLife, Hampden Risk Partners, United Trust Bank, SiriusPoint and RB Jones.

Geography

Headquartered in London, with offices in South Africa and India, serving clients in the UK and international insurance markets.

History

Founded in 2013, Optalitix first deployed its Models platform with Vitality in 2014, improving product innovation and sales performance. In 2015 it expanded into banking when United Trust Bank became its first banking client for a new mortgage product, and it won its first award with Vitality (Insurance Post). It was selected for the Accenture Fintech Innovation Lab in 2018, and in 2019 United Trust Bank made a strategic investment to support growth across insurance and financial services. In 2020 Optalitix was selected from over 1,000 applicants for the fourth cohort of the Lloyd's Lab, which led to the 2021 launch of Optalitix Quote for Lloyd's and London Market insurers and reinsurers. A Series A in 2022 from Calculus Capital and 24Haymarket funded UK growth. The Flow platform was implemented on Optalitix Quote in 2024, reinsurance features were added to Quote during 2025 with four reinsurers signing up, and a Canvas front-end for Quote launched in 2026.