Optimalex wins PropertyCasualty360 Innovation Award

Optimalex is pleased to announce that CEO Dr. Frank Giaoui has won a PropertyCasualty360 Insurance Innovators Award.

“We congratulate Dr. Frank Giaoui, Founder & CEO of Optimalex for winning a PropertyCasualty360 Insurance Innovators Award,” said Tamara Gentry, Group Publisher for ALM’s National Underwriter Property & Casualty Divisions. “Innovation is about more than technology. It’s about culture and practices that prevent any entity from becoming antiquated or outdated. The PropertyCasualty360 Insurance Innovators award honors technologists along with those making strides in customer experience; diversity, equity and inclusion (DE&I) initiatives; risk management and environmental stewardship.”

The award follows the successful release of the brand new Bodily Injury Module at the American Property Casualty Insurance Association Conference in Denver in early November. Optimalex takes Predictive Intelligence to the highest level possible of accuracy and fairness. Quantitative predictions start with qualitative legal theory and deep professional expertise applied to relevant precedent cases. Optimalex has embedded the most predictive variables into the algorithms of the decision support software. This allows claim adjusters to rapidly run multiple case simulations, to anticipate awarded damages and length of proceedings, hence reducing uncertainty of the potential outcomes. Optimalex Universe includes Agatha, the Prediction SaaS, Noah, the data curation service on the way to prediction, and Iris, the visualization dashboard. According to Dr. Giaoui, “This innovation is particularly useful whenever harm exists but is difficult to quantify, especially regarding expectancy damages for commercial cases, as well as pain and suffering for personal bodily injury.” He goes on to say, “I’m proud of our Optimalex team who are passionate about prediction, and grateful for our pilot customers, as we all work together to improve their case and claim evaluation process.”