April 23, 2024

๐Ÿข Tokio Marine HCC Selects Akur8โ€™s Core Platform Solution to Expand Its Pricing Capabilities and Quickly Build Intuitive and Explainable Predictive Models

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New York, NY โ€“ April 23, 2024

Akur8, the next generation insurance pricing solution powered by transparent machine learning, is thrilled to announce that Tokio Marine HCC has selected Akur8โ€™s Core Platform solution to fuel innovation by building high-performing pricing models, producing analytics and reporting with ease for powerful insights, and facilitating knowledge sharing across entities. Tokio Marine HCC is one of the worldโ€™s leading specialty insurers, underwriting more than 100 classes of specialty insurance in over 180 countries. Through this agreement, Akur8 continues to expand its presence in the US specialty insurance market.
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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.

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Samuel Falmagne, CEO at Akur8, shared his perspective regarding this new alliance stating, โ€œCollaborating with Tokio Marine HCC exemplifies the power of our pricing platform to support insurance specialty groups with deep technical and analytical business expertise. We are proud to work with a company that focuses on providing tailored underwriting and the highest quality risk management.โ€
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โ€œOur partnership with Tokio Marine HCC illustrates that Akur8 is the premier pricing solution for all sizes of insurance companies across all lines of business.,โ€ noted Brune de Linares, Chief Client Officer at Akur8.

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Tokio Marine HCC has been building and refining its competitive position in the specialty insurance marketplace for fifty years. With a diverse team that has in-depth technical knowledge and a customer centric mindset, Tokio Marine HCC consistently delivers an unrivaled product and level of service, upholding its mission to make a difference for the good of society.

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โ€œAkur8โ€™s solution empowers our pricing team to build a more streamlined process with strong model governance and intuitive visualizations. Through the utilization of these advanced features, we are able to put into production some of our more mature model implementations, resulting in increased efficiency. We are leveraging Akur8โ€™s software to modernize our pricing procedures, simplify rate plan changes, and gain better insights,โ€ explained Mario DiCaro, VP, Capital Modeling & Analytics at Tokio Marine HCC.

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About Akur8โ€

Akur8 is revolutionizing non-life insurance pricing with Transparent AI. We enhance actuarial capabilities with a 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. 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%.

Akur8 already serves 130+ customers across 40+ countries, including AXA, Generali, Munich Re and MS&AD. Over 1,300 actuaries use Akur8 daily for pricing in all lines of business.

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About Tokio Marine HCCโ€

Tokio Marine HCC is a member of the Tokio Marine Group, a premier global company founded in 1879 with a market capitalization of $49 billion as of December 31, 2023. Headquartered in Houston, Texas, Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Continental Europe. Tokio Marine HCCโ€™s major domestic insurance companies have financial strength ratings of โ€˜A+โ€™ (Strong) from S&P Global Ratings, โ€˜A++โ€™ (Superior) from AM Best, and โ€˜AA-โ€™ (Very Strong) from Fitch Ratings; its major international insurance companies have financial strength ratings of โ€˜A+โ€™ (Strong) from S&P Global Ratings. Tokio Marine HCC is the marketing name used to describe the affiliated companies under the common ownership of HCC Insurance Holdings, Inc., a Delaware-incorporated insurance holding company. For more information about Tokio Marine HCC, please visit its website and follow its LinkedIn page.
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Press Contacts

Heide Sacher
Head of Marketing for US
AKUR8
908-977-6526
heide.sacher@akur8.com

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