🏢 Helvetia Italy takes pricing excellence to the next level with Akur8
Akur8, the next generation insurance pricing solution powered by transparent machine learning, and Helvetia Italy, the Italian branch of the European insurer Helvetia, are delighted to announce their collaboration to empower Helvetia Italy’s pricing team.
Developed specifically for insurers, Akur8’s solution enhances pricing processes by using proprietary machine-learning technology. The core benefits for insurers include accelerated model building, transparent GLM outputs, and data-driven pricing decisions. By deploying Akur8’s RISK module, Helvetia Italy refines its product pricing and accelerates its time-to-market with fast modeling.
“I am very pleased with this alliance with Helvetia Italy. When such an established, trusted player chooses our solution, it means a lot to us. We are proud of adding pricing sophistication to Helvetia Italy’s proven record of excellence,” stated Samuel Falmagne, CEO at Akur8.
Helvetia Italy is the Italian branch of its Swiss parent company, Helvetia Group. Besides taking care of Italian policyholders for over 75 years, Helvetia Italy is renowned as a reliable insurer and excellent employer. Helvetia Group distributes its Life and Non-Life products to more than 700,000 Italian customers to satisfy their safety, protection and investment needs, through a network of over 500 Agencies, almost 300 Brokers, Affinity Groups and 25 banking institutes.
“It is a delight to work with Helvetia Italy’s pricing team, and I am thrilled with our expansion within Italy. Our goal at Akur8 is to empower actuaries and pricing experts worldwide with efficient and transparent pricing. I look forward to supporting Helvetia Italy’s pricing team in their journey towards pricing sophistication”, says Brune de Linares, Chief Client Officer at Akur8.
"Akur8’s cloud-based platform provides a variety of useful features, including the ability to conduct very granular variables analysis, including territory at the zip code level or vehicles (e.g., brand/model/year of production) —, geographic visualization, automated production of documentation in PowerPoint format, insertion of notes and comments in different parts of the process and the ability to use shareable links to directly access some steps of the analysis via email. Akur8 also provides fast and efficient online technical support", concludes Cinzia G. Bicego, Pricing Actuary at Helvetia Italy.
Akur8 is revolutionizing insurance pricing with Transparent Machine Learning, boosting insurers’ pricing capabilities with unprecedented speed and accuracy across the pricing process without compromising on auditability or control. Our modular pricing platform automates technical and commercial premium modeling. With Akur8, time spent modeling is reduced by 10x, the models’ predictive power is increased by 10% and loss ratio improvement potential is boosted by 2-4%. Akur8 already serves 80+ customers across 40+ countries, including AXA, Generali, Munich Re and MS&AD. Over 900 actuaries use Akur8 daily to build their pricing models across all lines of business.
Interested in insurance pricing automation? Akur8 recently completed a new position paper on Applying Machine Learning to Actuarial and Pricing Workflows.
Helvetia Italy is the Italian subsidiary of the eponym Swiss parent company and has been present in Italy since 1948. The great experience of an international group, able to create great products and services to achieve customer satisfaction, and the strong capital strength (A+ rating by S&P with positive outlook) make Helvetia a highly reliable partner. The Helvetia Group distributes its Life and Non-Life products to more than 700,000 Italian customers who have chosen Helvetia to meet their security, protection and investment needs, through a network of more than 500 Agencies, nearly 300 Brokers, Affinity Group and 25 credit institutions headed by more than 3,400 branches. In Italy, several Companies are part of the Group: Helvetia Compagnia Svizzera d'Assicurazioni SA for non-life insurance, Helvetia Vita S.p.A. for life insurance, Helvetia Italia Assicurazioni S.p.A. for the Affinity channel and for non-life bancassurance.
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For Helvetia Italy
Gruppo Helvetia Italia