Articles from Akur8

PARIS and LONDON and NEW YORK, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Akur8, the machine learning-powered insurance pricing and reserving platform, announced today that it has secured $120 million in series C funding, bringing its total raised investment to $180 million. This latest funding round was led by One Peak, a leading growth equity firm investing in software scale-ups, with participation from Partners Group, one of the largest firms in the global private markets industry acting on behalf of its clients, and historical investor Guidewire Software, Inc. (NYSEGWRE). The new funding will significantly bolster Akur8’s ability to expand its product portfolio and fuel its growth in key global markets.

Bringing the Best Reserving Solution In-House for Unmatched Innovation

Akur8, the next generation insurance pricing solution powered by transparent machine learning, announced that NEXT Insurance, a leading digital insurtech company transforming small business insurance, has selected its Risk and Rate modeling solution to build a data-driven, high-performing and scalable predictive modeling framework for their insurance pricing process. Through this agreement, Akur8 continues its growth within the commercial insurance marketplace in the U.S.

Akur8, the next generation insurance pricing solution, and Milliman, a premier global consulting and actuarial firm, are excited to announce the global expansion of their strategic alliance. Working together, the Milliman and Akur8 collaboration brings next generation insurance pricing capabilities and consulting services to property & casualty (non-life) insurance carriers, insurtechs and MGAs across the U.S., Europe, South America, Asia, and Africa.

Akur8, the AI insurance pricing company, published today results from its first global pricing report, “Akur8 Global Pricing Survey: convergence between actuarial and data science awaited!”

Europ Assistance Group and Akur8 are delighted to announce their collaboration to strengthen Europ Assistance's pricing process for its Travel Insurance and Car Assistance programs. By joining forces with one of the world's leading assistance companies, Akur8 is extending its European footprint and developing its expertise in the pricing of various insurance products.

CB Insights today named Akur8 to its first annual Insurtech 50, which showcases the top 50 most promising private insurtech companies across the globe.

Tokio Marine North America Services (TMNAS) and Akur8 are thrilled to announce their new partnership, which amplifies and innovates the insurance pricing capabilities at TMNAS in their key operating markets. By deploying Akur8, TMNAS will be able to convert data into underwriting action by setting up predictive models across all product lines thanks to Akur8's Transparent Machine Learning (ML) technology. This collaboration reinforces Akur8’s footprint in North America, a strategic region.

Akur8 and Sura are pleased to announce their collaboration to enhance Seguros Sura’s pricing capabilities on personal auto lines across Argentina, Chile and Colombia. Through this new partnership, Akur8 reinforces its presence in Latin America, where the company has been present since its second year of operations, and further accelerates its global expansion.

Akur8, the next generation insurance pricing solution powered by transparent machine learning (ML), announced today that it has partnered with Duck Creek Technologies (Nasdaq: DCT), a leading provider of software-as-a-service (SaaS) insurance core systems, to offer P&C insurance carriers a fully integrated SaaS platform that will streamline and empower insurers’ rate-making process from data to production.

AXA Tianping Property & Casualty Insurance Co., Ltd. (“AXA Tianping”), one of China's largest and most diversified P&C insurers, and Akur8, an AI-driven insurance pricing technology company, are delighted to announce their collaboration to further enhance AXA Tianping’s pricing process with Akur8’s high-performing AI technologies. With this partnership, AXA Tianping’s actuaries and pricing team will officially deploy Akur8 to unlock new potential with unique analytical insights and advanced pricing automation. AXA Tianping will become the 13th AXA entity and the first insurer in China to use Akur8 - a testament to its commitment to continuous innovation and improvement to better serve its customers.

Akur8, the next generation insurance pricing solution powered by transparent AI, is excited to announce its Silver sponsorship of InsureTech Connect Asia (ITC) 2022, the region’s largest gathering of insurance leaders and innovators, taking place from June 7 to June 9 in Singapore.

Akur8 is excited to announce the launch of its Akur8 Academy - a global training, development and upskilling program for insurance pricing advanced practices. This program is open to actuaries and pricing experts willing to benefit from the company’s expertise and build or grow their mastery of Akur8’s pricing platform.

Akur8 released today a new research paper for the actuarial community entitled “Credibility and Penalized Regression.” Developed by a senior team of actuaries and data scientists at Akur8, the purpose of this new paper is to provide practitioners with key concepts and intuitions that demonstrate how Penalized regression blends Generalized Linear Models (GLMs) with Credibility-like assumptions.

Akur8 and Bass Underwriters are thrilled to announce their multi-year partnership to boost the MGA’s risk pricing capabilities. Through this agreement Akur8 further expands its presence in the United States, and broadens its area of expertise within the MGA marketplace. Choosing Akur8’s best-in-class solution will enable Bass Underwriters to be industry leaders in their attritional risk pricing and continually provide cutting edge pricing in the competitive E&S market.

Akur8, the next generation insurance pricing solution powered by transparent machine learning, is excited to announce its Gold sponsorship of Duck Creek Formation ‘22, Duck Creek’s annual conference for the Duck Creek community, taking place March 6 through March 8 in Orlando, Florida.

Akur8 is pleased to announce the collaboration with pet health and insurance company Bought By Many to help boost the insurtech’s pricing capabilities. Through the partnership, Akur8 reinforces its presence in the UK, and further expands its area of expertise with a new line of business: pet health and insurance.

Akur8, the next generation insurance pricing solution, and Milliman, a premier global consulting and actuarial firm, are pleased to announce a strategic alliance to empower property & casualty (non-life) insurance carriers, start-ups, and MGAs with next generation pricing capabilities. Together, this collaboration leapfrogs conventional ratemaking solutions to offer increased speed, accuracy, and governance in insurance pricing.

Akur8 is delighted to announce their global cooperation agreement with Munich Re to boost Munich Re’s pricing capabilities for their Global Consulting Unit1. With this agreement, Munich Re will have access to a new state-of-the-art rate modelling solution and Akur8 will reinforce its footprint by partnering with one of the world’s leading providers of insurance, reinsurance and insurance-related risk solutions. This non-exclusive cooperation is global, with users in multiple Munich Re operating geographies. All Munich Re entities and clients can benefit from the joint approach and tap into this solution.