March 19, 2024

๐Ÿค Akur8 Accelerator for AI-Powered Pricing Now Available for Cloud Users on Guidewire Marketplace

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New York and San Mateo

March 19, 2024

Akur8, the next generation insurance pricing solution, and Guidewire, the industry-leading property and casualty (P&C) insurance cloud platform, are excited to announce that the Ready for Guidewire validated Akur8 Accelerator for AI-Powered Pricing is now fully available for both cloud and on-premise users of PolicyCenter, offering a fully integrated pricing solution for the insurance industry, accessible through the Guidewire Marketplace.

โ€œWe are thrilled that the Akur8 Accelerator is now a cloud-native integration with Guidewire. It is a significant milestone for Akur8. By seamlessly combining Akur8's cloud-based, cutting-edge AI-powered pricing technology with Guidewire's leading PolicyCenter platform, we empower insurers to break free from traditional rate deployment constraints, and establish new standards for excellence in the insurance industry,โ€ noted Samuel Falmagne, CEO of Akur8.ย 

With the Akur8 Accelerator, insurers can experience:

  • A cloud-native, fully integrated pricing solution from modeling to deployment, bringing unparalleled, up to 10X faster speed to market, for new rates and rate changes
  • Elimination of the traditional IT bottleneck
  • Error reduction and increased security
  • Improved internal governance and compliance.
โ€œAkur8โ€™s cloud-based, machine-learning (ML) native insurance pricing solution provides a streamlined user experience to actuarial and pricing experts worldwide. The Guidewire Rating Engine powered by Akur8 models gives our customers choices in designing a best-in-class pricing and rating solution, and allows each platform to perform where they excel. This integration redefines the traditional rate deployment process by eradicating the manual labor burden that often hinders pricing efficiency, resulting in increased agility and speed-to-market for insurers,โ€ said Will Murphy, Vice President, Global Technology Alliances, Guidewire.
โ€œAkur8 Accelerator allows for the seamless export and deployment of Akur8 built models into the Guidewire PolicyCenter rating engine, creating a cloud-native fully integrated insurance pricing solution from data to model creation to production rating. Designed exclusively for P&C (non-life) insurance carriers, insurtechs and MGAs, the Akur8 Accelerator accelerates time-to-market for new rates and products by introducing cutting edge automation, providing increased security, removing the IT bottleneck, and largely eliminating the potential for human error,โ€ noted Joanna Chardon, Chief Strategy & Product Officer at Akur8.

Explore the newly added Akur8 Accelerator in the Guidewire Marketplace by watching a brief video.ย Click here to gain insights into how this integration significantly enhances insurance pricing.

About Akur8

Akur8 is revolutionizing non-life insurance pricing with Transparent AI. We enhance actuarial capabilities with our user-friendly, machine learning (ML) native solution, built on cutting-edge technology. Our cloud-based, fully integrated platform empowers insurers to price at unprecedented speed, directly influencing financial outcomes and enhancing risk assessments. With Akur8, time spent modeling is reduced by 10x, the modelsโ€™ predictive power is increased by 10% and loss ratio improvement potential is boosted by 2-4%. Insurers will be able to navigate the dynamic, highly competitive market with unwavering confidence. Akur8 already serves 130+ customers across 40+ countries, including AXA, Generali, Munich Re and MS&AD. Over 1300 actuaries use Akur8 daily for pricing in all lines of business.ย 

About Guidewire PartnerConnect ecosystem and Ready for Guidewire

Guidewireโ€™s solution ecosystem is the largest in the P&C industry, with over 185 solution partners providing over 215 integrations in the Guidewire Marketplace. Guidewire PartnerConnect Solution partners provide software, technology, and data solutions as well as insurance support services. Our Solution partners help drive business value and innovation for insurers by developing and delivering integrations, extensions, apps, and other complementary solutions for Guidewire products. All of our Ready for Guidewire partner solutions are validated for security, quality, and compatibility with Guidewire, and can be found on the Guidewire Marketplace.

For more information about Guidewire PartnerConnect, please visit http://www.guidewire.com/partners.ย ย 

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 540 insurers in 40 countries, from new ventures to the largest and most complex in the world, run on Guidewire.

As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with more than 1,600 successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

For more information, please visit www.guidewire.com and follow us on X (formerly known as Twitter) and LinkedIn.

Media contacts

For Akur8

Heide Sacher

Head of Marketing for the U.S.

+1 908-977-6526

heide.sacher@akur8.com

โ€For Guidewire

Melissa Cobb

Senior Public Relations Manager

Guidewire Software, Inc.

+1.650.464.1177ย 

mcobb@guidewire.com

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