RemitRix helps Actuaries, CFOs and Risk Managers at insurance companies to manage and predict capital through compliant, accurate and cost saving methods
Current Status
2 clients (insurance companies) + 2 pilots
Market
TAM: insurance software market $12 B a year with 7% CGAR SAM: ~30% of IFRS17 budget dedicated for IT solutions = $7 B a year SOM: ~30% accounts for small/medium insurance companies = $2 B a year
Problem or Opportunity
1. Complex regulation (time consuming & expensive) 2. Separated IT infrastructure (Inaccuracy of reporting) 3. Lack of holistic management Process (“Fire Fighting” Culture)
Solution (product or service)
1. Agile & Affordable (Simple to integrate) 2. Automated & Accurate (ML advanced models) 3. Holistic (Assets & Liabilities)
Competitors
Tech providers: SAP, SAS Analytical tools: Prophet, WTW
Advantages or differentiators
ML accuracy for reserves estimation Automation and agility Holistic (assets and liabilities)
Finance
Average $10K-$100K monthly depends on AUM and products mix
