🤝 Akur8 and Xceedance Announce Strategic Partnership
Delivery of state-of-the-art pricing solutions to insurers is a key objective of the new relationship.
PARIS and BOSTON, February 9, 2021 — Akur8 and Xceedance today announced a strategic partnership to deliver best-in-class actuarial and analytics solutions to insurance organizations.
The partnership between Xceedance and Akur8 provides an opportunity for insurers to gather in-depth insights from internal or external data sources, improve rate-making processes, and gain access to advanced actuarial expertise. By leveraging modern technology from Akur8 and industry expertise from Xceedance, insurers can gain immediate and tangible improvements in operational performance. Benefits include rate-making process efficiency, faster time-to-market, improved governance and compliance in the rating process, as well as top-line and bottom-line growth.
“Akur8 is excited to join forces with Xceedance, a leading and recognized expert in the actuarial services landscape,” said Samuel Falmagne, CEO at Akur8. By combining our resources, we can deliver a strong actuarial value proposition to insurance organizations — leveraging our unique rate making platform and top-notch actuarial expertise from Xceedance.”
The unique Akur8 insurance pricing platform leverages an innovative combination of proprietary machine learning (ML) algorithms and transparent artificial intelligence (AI) — which allows actuarial and predictive modeling teams to significantly increase speed-to-accuracy, without sacrificing auditability and control.
“We believe the Akur8 platform is distinctive in the pricing landscape, and its approach to incorporating data science in the ratemaking process is innovative,” said Matthew Duke, chief actuary, head of global actuarial and analytics services at Xceedance. “Automation of critical steps in the predictive modelling process by Akur8 significantly reduces time-to-market, without sacrificing precision and transparency. A revolutionary solution by Akur8 combined with actuarial and analytics services from Xceedance creates a powerful offering that strategically enables insurance organizations worldwide.”
Akur8 is transforming insurance pricing with Transparent AI. Our proprietary ML algorithms automate rate making while preserving control and transparency throughout the process. We replace the manual processes of legacy solutions and the need to build and maintain large codebases through custom R/Python developments, while maintaining an output that is understandable & auditable, unlike black-box ML.
Xceedance is a global provider of strategic consulting and managed services, technology, and data sciences to insurance organizations. The company helps insurers launch products, drive operations, implement intelligent technology, deploy advanced analytics, and achieve business process optimization. The experienced insurance professionals at Xceedance enable insurers worldwide to enhance policyholder service, enter new markets, boost workflow productivity, and improve profitability.
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Jennifer Overhulse, St. Nick Media (for Xceedance)
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