Canopius Vave achieved a 6% combined ratio improvement
Location:
Goal
Match Canopius’ clients’ needs and adapt prices to a dynamic marketplace
Module used
Results
6% Combined Ratio Improvement
Feedback
“On a combined ratio basis we’d be looking at a 6% improvement in our performance based off the work we did with Akur8. That’s a huge improvement for us, and is basically the difference between the class of business being loss making and performing well.”
Product Director at Vave, Canopius Group
“Akur8 has a great solution to a problem that we have – converting data into underwriting actions and so it makes perfect sense for us to work with them.”
Product Director at Vave, Canopius Group
Drive business value by bringing your end-to-end pricing process to the next level
Akur8 is the only technology on the market that automates the generation of production-ready GAM/GLMs. Thanks to its unique proprietary algorithms, it delivers tremendous business value by unlocking untapped combined ratio improvement.
Other use cases
"We found insightful interactions after one day of modeling with Akur8’s insurance pricing solution. Leveraging this user-friendly and transparent platform will enable our pricing team to build better models faster across more lines of business."
“Providing efficient, reliable and consistent pricing creates a win-win for the risk taker and agent. Having the ability to improve risk pricing by running complex models and updating those models as new data comes in at any moment is a game changer for us, and a competitive differentiator. It is crucial for the rapidly changing E&S marketplace.”
“As a data-driven company, HDVI continues to invest in tools that leverage our proprietary big data sets and telematics data to develop industry-leading insights and risk models.The Akur8 platform enables greater collaboration across our growing team. By eliminating the coding language barrier and providing increased transparency, it will reduce errors and allow us to more quickly develop additional models that can be incorporated into our insurance product and safety solutions.”
