Q&A with Effi Mor, Remitrix CEO
What does RemitRix do?
Mor: RemitRix provides insurers with web-based SaaS application to optimize their balance sheet management under Solvency II and IFRS17.
What are the solutions you provide for you customers?
Mor: Solvency II & IFRS17 engine with reporting tool, ALM, financial risk management, actuarial modeling, ML modeling for actuaries.
What are the values that RemitRix offer to the market?
Mor: Actuarial work automation, improved predictions accuracy, capital and balance sheet management optimization, Holistic solution.
How can technology and machine learning improve the risk management of insurance companies?
Mor: Better utilize data for actuarial reserves estimation and pricing / remove linear assumptions in models.
In Solvency: brings to better capital allocation and potential to reduce required capital.
In IFRS17: improve policies segmentation under CSM constraints.
What insurers are currently using your systems?
Mor: Shirbit (solvency package) and another life insurer (assets solvency and financial risk management).
What investments were made in the company so far?
Mor: Angels 550K USD + Israel Innovation Authority.