RemitRix

growth-positive

RemitRix is a company that provides insurers with a web-based SaaS application to optimize their balance sheet management under Solvency II and IFRS17. The company offers solutions such as a Solvency II & IFRS17 engine with a reporting tool, ALM, financial risk management, actuarial modeling, and ML modeling for actuaries. RemitRix aims to automate actuarial work, improve prediction accuracy, and optimize capital and balance sheet management. The use of technology and machine learning can enhance risk management for insurance companies by better utilizing data for actuarial reserves estimation, pricing, and removing linear assumptions in models. Shirbit and another life insurer are currently using RemitRixs systems. The company has received investments from Angels and the Israel Innovation Authority.

growth-positive

RemitRix, an Israeli tech startup, is using AI and ML to help actuaries improve their predictions in the insurance industry. They have partnered with The Actuary Magazine to demonstrate their solution and have received positive feedback. RemitRix offers technology products and solutions for actuaries and insurers, including web-based financial and actuarial risk management platforms. Their game-changing solution, RemitRix ModuLearn, helps insurers reduce capital risk by predicting future costs and cash flows. ML algorithms have shown more accurate predictions compared to classical actuarial models. The article highlights the benefits of using AI and ML in the insurance industry.