Akur8, a leading provider of next-generation insurance pricing and reserving solutions powered by transparent machine learning, has announced a strategic partnership with the American Association of Insurance Services (AAIS).
This collaboration aims to improve predictive modeling capabilities for the Property and Casualty (P&C) insurance industry.
Designed specifically for insurers, Akur8’s proprietary machine-learning technology streamlines pricing processes while maintaining transparency. Key benefits of the solution include faster model building, enhanced Generalized Linear Modeling (GLM) outputs, and robust data-driven underwriting, offering significant advantages for the P&C marketplace.
The partnership reflects a shared commitment to leveraging advanced technology to drive innovation and efficiency within the insurance sector. Akur8’s platform integrates actuarial rigor with cutting-edge technology, delivering tools that insurers can use to enhance performance, transparency, and decision-making.
“AAIS’s adoption of Akur8’s Core Solution underscores their commitment to providing best-in-class solutions for their Members. We are thrilled to partner with such a prominent organization in the P&C insurance industry, further establishing Akur8 as the leading choice for innovative pricing and modeling techniques,” stated Sam Falmagne, CEO of Akur8.
Brune de Linares, Chief Client Officer of Akur8, added, “Our collaboration with AAIS highlights the powerful role Akur8’s solution plays in advancing the pricing process for insurance carriers. We look forward to working together to drive continued innovation and progress within the insurance industry.”
“Our Actuarial Services team is excited to leverage the capabilities of Akur8’s Core Platform Solution as part of our predictive modeling strategy. Building a repeatable, end-to-end process that includes enhanced visualizations and built-in reports is going to be critical for us to successfully broaden our use of predictive models. We are confident that Akur8 will be able to meet and exceed these expectations for AAIS,” said Michael Payne, FCAS, MAAA, Chief Pricing Actuary of AAIS.
