The move solidifies Akur8’s robust position as a must-have tool for insurance pricing in Canada. SGI CANADA is the trade name of the property and casualty insurance division of Saskatchewan Government Insurance (SGI) which offers products in five of Canada’s provinces.
The company operates as SGI CANADA in Saskatchewan, British Columbia, Alberta, Manitoba, and Ontario, and also as Coachman Insurance Company in Ontario. Products are sold through a network of 346 broker partners of SGI CANADA in more than 1,600 locations across the country
According to its leaders, Akur8’s solution enhances pricing processes by automating the rate making process, using Transparent Artificial Intelligence proprietary technology. 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 on the models created.
SGI CANADA is moving forward on the path of innovation and sophistication by implementing Akur8’s RISK module. This will allow for an easier and faster modelling process, in a transparent and explainable way.
“We are excited to welcome SGI CANADA, and provide them with our state-of-the-art pricing platform. The recent evolutions of our product and new features developed show that it truly meets insurers’ needs. We are proud to continue to strengthen Akur8’s development around the world, where Canada plays an important role,” said Samuel Falmagne, CEO of Akur8.
Brune de Linares, Chief Client Officer at Akur8, explained: “Starting this collaboration with SGI CANADA is a major milestone for Akur8. We are proud to welcome a new client who is respected in the Canadian market and known all across Saskatchewan. This also strengthens our presence in North America among P&C insurers, as Akur8 is designed to support actuaries’ needs in all lines of business.”
“We are pleased to begin this collaboration with Akur8,” said Joshua Snow, VP of Pricing at SGI CANADA. “Akur8’s pricing solution should help us significantly reduce our time to build models. In addition, we will make the most of the data available to us by leveraging Akur8’s approach to credibility and penalised regression. Adopting the right tool is key to our strategy of growth in other provinces, and ultimately will help us improve our risk modelling and understanding for pricing.”
Source: Akur8
