March 7, 2024

๐Ÿข Swedbank Selects Akur8 To Strengthen its Insurance Pricing Process with High Performing Models

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Akur8, the next generation insurance pricing solution powered by Transparent AI, announced that Swedbank has selected Akur8's pricing platform to enhance its insurance pricing process.ย 

By leveraging Akur8's cloud-based, fully integrated platform, Swedbank is poised to streamline its insurance pricing process, ensuring accuracy, transparency, and an improved customer experience.

Specifically developed for insurers, Akur8โ€™s solution empowers pricing teams to make better decisions faster, by automating risk modeling using proprietary transparent machine learning technology. The core benefits for insurers include increased predictive performance and speed-to-accuracy for higher market reactivity and immediate business impact, while maintaining full transparency and control of the models created.

The collaboration between Swedbank and Akur8 comes at a time when the insurance industry is undergoing significant transformation. Insurtech solutions, such as Akur8's platform, are revolutionizing traditional insurance processes with modern tools based on transparent AI, enabling companies to optimize pricing strategies and improve overall efficiency.

โ€œDuring the onboarding, we were impressed with the range of functionalities in the Akur8 suite. The platform is a perfect fit with our development plan, and will enable us to improve efficiency in our modeling process. We were especially impressed with Akur8โ€™s lightning-fast user support, which allows us to tap into technical expertise beyond just the platform, focus on the business side and accept new projects - all of which further strengthen our market positioning and serve our clients better,โ€ said Juris Kipluks, Head of Underwriting at Swedbank.

Akur8 is proud to embark on this new journey with Swedbank and is dedicated to fostering a strong and collaborative partnership.

"We're delighted to welcome a new client in the Baltics and to work alongside a carrier who shares our commitment to customer support. This synergy is all the more gratifying as we continue to invest significantly in the development of new functionalities and the user-friendliness and live support from our teams around the world. With this alignment, our support team can focus on addressing high-value inquiries," noted Joanna Chardon, Chief Strategy and Product Officer at Akur8.ย 
โ€œWe are glad to cooperate with Swedbank to continue working at the forefront of pricing sophistication, and we are proud to further strengthen our presence in the Baltics. We have worked very closely with Swedbank to ensure we understand their requirements, both from a technical as well as from a business viewpoint - and we are looking forward to a continued and fruitful collaboration with Swedbank,โ€ said Julian Frank, Client Director at Akur8.

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About Swedbank

Swedbank is a leading financial institution dedicated to providing a wide range of banking and financial services to individuals, businesses, and corporations. With a strong focus on customer satisfaction and innovation, Swedbank continues to be at the forefront of the financial industry.

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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. 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.ย 

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Media Contactย 

For Swedbank

Charlotte Nilsson, Press Communicator, Swedbank,

+46 76 534 66 12

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For Akur8ย 

Edouard Dognin, Marketing Manager, Akur8ย 

+33 7 69 13 51 35

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