How Software Firms are Targeting the Underwriting Skills Gap
The growing adoption of digital underwriting tools in the insurance sector has exposed a skills gap among traditional underwriters who must now navigate complex software systems alongside their core risk assessment duties. Now, two firms have partnered to address this challenge through professional education.
Optalitix, a provider of underwriting software systems that converts Excel pricing models into cloud-based applications, has joined forces with the Insurance Knowledge Hub to deliver professional training on underwriting workbenches. The partnership aims to equip underwriters with technical skills as the London market and wider insurance sector continue their digital transformation programmes.
Underwriting workbenches represent a key component of insurers’ modernisation efforts. These integrated software platforms combine pricing tools, risk assessment capabilities and compliance controls into unified systems that allow underwriters to evaluate and price risks more efficiently.
Tackling the insurance technology skills gap
The collaboration centres on a new continuing professional development (CPD) course titled ‘Mastering Underwriting Workbenches’. The course addresses practical challenges faced by underwriters who must transition from traditional methods to digital platforms while maintaining underwriting accuracy and meeting regulatory requirements.
Insurance Knowledge Hub, a professional education platform for the insurance sector, has developed the course content in conjunction with Optalitix’s technical team. The programme consists of ten video modules with a total viewing time of 50 minutes, followed by a multiple-choice assessment designed to take between 10 and 15 minutes to complete.
Partnership based around industry expertise
“We are proud to partner with the Insurance Knowledge Hub and to give something back to the market by sharing our specialist expertise in this ground-breaking technical area of underwriting,” says Dani Katz, Co-founder of Optalitix. “Having worked in insurance pricing for over 30 years, I realise the importance of underwriting for the industry.”
The course material examines how analytics and automation integrate into modern underwriting processes. Participants learn methods to enhance decision-making processes and reduce loss ratios through technology adoption, while maintaining compliance with regulatory requirements.
Optalitix, founded in 2013, employs 50 staff across engineering, actuarial and data science roles. The firm specialises in converting Excel spreadsheet models into code for cloud-based insurance pricing applications, serving insurers in both the London Market and wider UK insurance sector.
Nicole Efthymiou, founder of Insurance Knowledge Hub, says: “Working together, we've developed a course that not only empowers insurance professionals with essential skills but also showcases Optalitix's innovation in underwriting technology. Their commitment to advancing industry practices aligns perfectly with our mission to deliver impactful, expert-led training that resonates with today's insurance landscape.”
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