Actuarial software provider Montoux is building on its considerable support from industry hard hitters by welcoming investor and recent lead of the Deloitte actuarial team, Charles Hett, to the company
Mr Hett established and has led the Deloitte actuarial team for the last 10 years.
Charles HettHett recently joined the Montoux board and will now become the product lead. With an impressive pedigree in the life insurance industry, his wide-ranging experience of financial business internationally; both as a consultant and in various insurance company roles, is an ideal addition to Montoux.
Montoux’s mission, in CEO Klaas Stijnen’s words, is to “bring growth back to life insurance.” Currently, this means improving the way life insurers price their products with intelligent modelling tools.
Hett says it was easy to see the advantages Montoux provides a life insurer. “As an actuary I witnessed so many product pricing bottlenecks and efforts to add value were often stifled by outdated tools that made working as a team very hard. From a business perspective, I believe “old tech” is preventing life insurers from achieving the levels of customer focus and profitability they should provide and enjoy.”
Stijnen says Montoux’s customers benefit hugely from shedding these technical burdens. “Our customers have seen a 1% - 5% boost in profitability, and consistently achieve around 33% increase in operational pricing efficiency.”
“Montoux makes a wide range of process improvements possible, but it really boils down to growing sales and value,” confirms Hett.
Heavy weight backing is nothing new to Montoux. The tech firm boasts the guidance of a top class board and an impressive stable of investors. “We’ve been extremely grateful to find people with such a wealth of knowledge and experience who not only get what we’re trying to do, but back us to get there,” says Stijnen.
Along with Stijnen and Hett, Montoux’s board of directors currently includes Serge van Dam and Sam Knowles, who between them command a wealth of success in the life insurance and fintech realm.
Montoux provides automated actuarial models that dramatically accelerate product pricing in life insurance. Montoux’s Pricing Application allows insurers to condense their pricing process with one application, shortening pricing cycles, reducing model risk and gaining a better understanding of product benefits, reinsurance, commission structure, and competitive analysis.
For more information about Montoux, go to montoux.com.