Akur8 Helps Georgia Farm Bureau Cut Project Timeline by 1 Year
Goal
A 5-person team had to overhaul an outdated rating framework to match competitors’ sophistication, all while managing ongoing actuarial duties in pricing, reserving, and predictive modelling.
Module used
Results
Cut project timelines by 1 year. Introduced new predictor variables. Submitted rate recommendations six months ahead of schedule.
What they say about Akur8
“Our team really values the speed of model creation and iteration, transparency and ease of reporting that Akur8’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, Akur8’s live support is always there to help us resolve any issues that arise.”
Steven Reslie, Actuary and Manager of Rate Development at Georgia Farm Bureau.
“With Akur8, you can accomplish so much more in a shorter period of time. All the processes required are brought to the table and streamlined. You get more done faster and can make good decisions in less time.”
Steven Reslie, Principal Actuary and Senior Manager of Rate Development, Georgia Farm Bureau
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Or discover other testimonials
Akur8 nous permet de boucler notre tarification en un ou deux jours. Il y a aussi une vraie flexibilité : s’il y a un petit changement dans la base de données, nous pouvons relancer immédiatement les études sans perdre de temps, en utilisant le modèle initial pour ajuster le nouveau modèle. Enfin, il y a la transparence : nous pouvons désormais partager les résultats avec les autres [membres de l'équipe], qui ont accès à l’ensemble du processus de tarification afin de challenger ce que nous avons fait. Donc c’est totalement transparent, rapide et flexible.
“Esta alianza con Akur8 es una prueba más de nuestro ADN tecnológico y digital. Apostar por tecnología de primer nivel para lograr una tarificación más rápida, precisa y totalmente transparente es un factor diferenciador, y en HDI Seguros estamos entusiasmados de liderar el camino.”
“Akur8’s insurance pricing solution will enable TMNAS to quickly build intuitive and easily explainable predictive models across all products, providing new insights for underwriters. As a shared services company, it is key for us to be able to translate predictive information into useful measures for our clients. Akur8 will help us fill a missing component to complete the framework for transparent, and data-driven decision-making.”
