Empower actuaries and pricing teams to make better decisions, faster.
Many P&C and health insurers, reinsurers, insurtechs and MGAs
are using Akur8 to enhance their pricing strategy and maximize
their business impact:
Maintain full transparency, auditability and control over your models
Maximize the business impact of your rate changes
With Akur8, you can streamline your rate-making cycle from actuarial modeling to production. This facilitates information flows between the different teams involved but also enables management to have a clear understanding of the impact of different pricing strategies, and ultimately make better-informed decisions.
Streamline your rate-making cycle
By implementing Akur8’s end-to-end rate-making solution, you can streamline your whole rate-making cycle from modeling to production. This considerably reduces friction at each step of the process, which means less manual work and a common language between all teams involved. It also provides an overall clearer view of the “big picture” from a management perspective.
Maximize the business impact of your insurance pricing strategies
Akur8 leverages the power of machine learning to support, facilitate and accelerate pricing decision-making. Our solution allows you to test out pricing strategies to better assess their impact on key business performance indicators. Ultimately, it enables management teams to make better-informed decisions and select the optimal pricing strategy based on their overarching objectives and business constraints.
Implement a more robust pricing governance
Strengthen your pricing governance and facilitate the flow of information across teams. Using Akur8’s end-to-end solution provides a standardized way of discussing and analyzing pricing strategies, leading to more consistent, traceable and reproducible models. This will result in a better understanding of the pricing process and free up more time for higher value-added business decision-making.
The flexibility and ease of a plug-and-play solution
Akur8 provides open APIs to empower insurers to get even more value out of the solution, and to ease overall integration across complex, existing IT system landscapes. As a user, you can call Akur8’s APIs from your own Python scripts with minimal set up, across a wide range of use cases, including: uploading databases, reusing database formatting, launching grid searches, enriching a GLM with interactions and geography, exporting rates and predictions, duplicating risk projects on a new dataset… and more to come!
Plug-and-play with no integration needed
Akur8 leverages cloud technology to maximize parallelization of tasks and projects. Being a plug-and-play SaaS solution, Akur8 does not require any integration with IT legacy systems, which means no set-up delays or costs.
Being by design modular, you can use Akur8’s solution to deploy the modules that are best suited to your needs, in order to improve your pricing process and solve your major pain points. And you can always decide to extend to the full suite. Modularity also makes it easier for Akur8 teams to add new functionalities, resulting in lower development time and more frequent solution upgrades and releases.
Compatible with other solutions
Akur8 is compatible with other solutions used across your pricing value chain, and with neighboring processes. You can easily export files in different formats and input them into adjacent tools or processes. Akur8 also allows integration with other leading pricing solution providers.
“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.”
Onboard with Akur8
Akur8 has built-in high quality support from our actuarial and data science teams - from pilot stage, through testing and implementation, to daily use.