February 27, 2024

๐Ÿข Georgia Farm Bureau Mutual Insurance Company Selects Akur8โ€˜s Core Platform Solution to Efficiently Build High Performing Explainable Pricing Models

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New York, NY โ€“ February 27, 2024โ€

Akur8, the next generation insurance pricing solution powered by transparent machine learning, is thrilled to announce that Georgia Farm Bureau Mutual Insurance Company, a company offering coverage for farm insurance in addition to virtually every line of insurance in the state of Georgia, has selected Akur8โ€™s Core Platform solution to efficiently build high performing, explainable pricing models.

Developed explicitly for insurers, Akur8โ€™s solution enhances pricing processes by using proprietary machine-learning technology. The core benefits for the P&C insurance marketplace include accelerated model building, transparent GLM outputs, and data-driven underwriting.

โ€œWe are thrilled to team up with Georgia Farm Bureau Mutual Insurance Company and empower their pricing team to streamline predictive modeling with a more data driven approach, while also sharing actionable insights with key stakeholders. This partnership exemplifies the importance and attractiveness of Akur8โ€™s solution for regional insurance providers within the mutual insurance market in the U.S.,โ€ stated Samuel Falmagne, CEO at Akur8.
Brune de Linares, Chief Client Officer at Akur8 agreed, โ€œOur alliance with Georgia Farm Bureau Mutual Insurance Company demonstrates that Akur8 is a strong, reliable solution that upholds high standards for all types of insurance companies across all lines of business. We are excited to build upon this partnership as we continue to expand within the U.S.โ€
โ€œOur team really values the speed of model creation and iteration, transparency and ease of reporting that Akur8โ€™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, Akur8โ€™s live support is always there to help us resolve any issues that arise,โ€ noted Steven Reslie, Actuary and Manager of Rate Development at Georgia Farm Bureau.

ABOUT AKUR8โ€

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. Insurers will be able to navigate the dynamic, highly competitive market with unwavering confidence. Akur8 already serves 120+ 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.

ABOUT GEORGIA FARM BUREAUโ€

Georgia Farm Bureau Mutual Insurance Company began in 1959 to offer much needed financial services to farmers and rural communities. It has grown tremendously over the years and now caters to all the types of Georgians, protecting them with a wide variety of insurance products. To learn more, check out gfbinsurance.com.

โ€PRESS CONTACTโ€

Heide Sacher
Head of Marketing for U.S.
AKUR8
+1 908-977-6526
heide.sacher@akur8.com

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