Akur8

“"MMIC is elated by our partnership with Akur8 and the potential it holds to drive our company’s digital transformational journey in insurance pricing. Akur8’s innovative technology aligns seamlessly with Madison Mutual’s commitment to delivering exceptional customer experiences and optimizing pricing capabilities.””

““As a data-driven company, HDVI continues to invest in tools that leverage our proprietary big data sets and telematics data to develop industry-leading insights and risk models.The Akur8 platform enables greater collaboration across our growing team. By eliminating the coding language barrier and providing increased transparency, it will reduce errors and allow us to more quickly develop additional models that can be incorporated into our insurance product and safety solutions.””

“"Together with Akur8, we’re able to further innovate upon our current capabilities to deliver even more accuracy, speed and efficiency at scale for NEXT’s growing customer bases."”

““Speed wins in our business. Using Akur8’s solution allows our pricing actuaries to build models more quickly, giving us more time for testing and, more importantly, improving speed to market on our product offerings.””

““The Akur8 platform does a remarkable job at streamlining complex ratemaking and modeling tasks. By leveraging this solution, our team can quickly run pricing and profitability models for multiple lines of business, across geographic locations. Akur8 allows us to easily summarize complex results and distribute them across internal teams.””

“"We foster innovation through various initiatives, and value integrity and fairness: Akur8’s transparent solution is perfectly aligned with these core principles. Akur8 will provide us great potentialities to be able to become the company and the group which sustainably have capabilities to develop various products and services for realization of a safe and secure society."”

““Akur8’s insurance pricing solution will enable TMNAS to quickly build intuitive and easily explainable predictive models across all products, providing new insights for underwriters. As a shared services company, it is key for us to be able to translate predictive information into useful measures for our clients. Akur8 will help us fill a missing component to complete the framework for transparent, and data-driven decision-making.””

““Our team really values the speed of model creation and iteration, transparency and ease of reporting that Akur8’s Core Platform solution provides. Being able to review the indicated vs. predicted and then make a selection is something in the current pricing process that Akur8 helps make a lot more efficient. We also love that if a member of our team ever runs into a roadblock, Akur8’s live support is always there to help us resolve any issues that arise.””

“"We love Akur8 Discover. We used to spend hours—sometimes days—trying to figure out how endorsements were priced or how competitors were pricing certain classes. It was frustrating and slow. With Discover, we get answers in minutes. It’s dramatically improved our efficiency and more importantly, it’s expanded the kind of work we’re able to take on. This is the future of actuarial work: AI-powered, efficient, and focused on insights."”

“"We used to joke that we're a pricing team who didn't build pricing models. Since we've got Akur8, we've pushed out numerous models and it's been a game changer to us."”

“We didn’t want a black box where we couldn’t understand what was actually being modeled. We wanted to have full input, and we can do that with Akur8.”

“"We chose Akur8 because it provides an amazing balance. On one hand, it gives you a lot of power and sophistication with very powerful underlying models. On the other hand, it provides a nice governance framework—some guardrails that allow you to let your pricing team free and focus on exactly what they do best, avoiding lengthy conversations with the engineering team every time you want to do a deployment. Essentially, you give them full control, going from insight to deployment."”

““Akur8 is a great pricing tool! We liked the automation of repetitive tasks as well as the quick and easy learning curve of the user interface for all team members.”

“"Akur8 simplifies modeling while still leaving us in control of our choices and interpretations. It also gives us flexibility to adjust the models, even though a large part of the process is automated."”

““We’ve been able to pull out a good territory model straight out of the system without taking very much time to put into it. It’s been a huge improvement for the company.””

“On a combined ratio basis we’d be looking at a 6% improvement in our performance based off the work we did with Akur8. That’s a huge improvement for us, and is basically the difference between the class of business being loss making and performing well.”

““We are delighted to announce our partnership with Akur8, which we believe is an advanced and effective solution in the P&C retail market for risk modeling. The results we observed during the 2-week pilot were compelling, considering both our prediction indicators and the significant time reduction in risk modeling. Above all, we expect it to be of great value for our customers, with increased personalization and targeted pricing, contributing to offering them a fair insurance policy.””

““Akur8 offers a game changing approach to ratemaking compared to manual solutions, that we were eager to adopt. The benefits in terms of speed and performance are major, while the process is robust and safe. The collaborative and intuitive interface, the smart features as well as the reactive and proficient support were also greatly appreciated by our pricing teams.””

““Akur8 is a best-in-class pricing solution. The results we observed during the pilot phase are speaking for themselves, with dramatic reduction in modeling time and more predictive power of the models. This will both accelerate our time-to-market and improve our pricing accuracy, bringing substantial value to our partners and the end-customer, in a time that requires ever more reactivity and transparency.””

“"We chose Akur8 because it is an innovative solution, which allows us to put the best-in-class pricing technology at the service of our employees. The modeling speed saves precious time for our teams.””

“”Akur8’s value very quickly came to light. Modeling speed is 5x faster, while keeping a thoroughly transparent and auditable process. The user-friendliness of the interface and the collaborative aspect of it are a great asset for the team, making it very easy-to-use, while enhancing internal communication. The responsiveness of the Akur8 team also was instrumental in our very fast learning curve.””

““Akur8 allows for a reduction in modeling time, enabling us to build new prices much faster and significantly decreasing our time-to-market, while increasing the productivity of our team.””

“With Akur8’s platform, our actuarial, data science, and product teams can collaborate seamlessly throughout the insurance pricing process. It ensures higher efficiency and delivers visual insights that are explainable across a variety of stakeholders.”

““In the past, territory rating took a lot of time to set up and think about the process and how we want to implement it. With Akur8 it’s totally built-in.””

““Our pricing teams are looking forward to leveraging Akur8 every day after the results of the pilot project which allowed them to fully measure the power of the Akur8 platform. Akur8 will empower them in their efforts to improve our ratemaking process, build new capabilities and deliver increased business value for HDI Seguros.””