Paris, France - Johannesburg, South Africa - February 11, 2025

Akur8, the next-gen pricing and reserving platform, is pleased to announce its new collaboration with Alpha Insure, a leading South African insurance underwriter that will harness the RISK, RATE and DEMAND modules of Akur8’s pricing platform to elevate its pricing processes to a new level of excellence. 

Specifically developed for insurers, Akur8’s pricing solution empowers pricing teams to make better decisions faster, by automating risk modeling using proprietary transparent machine learning technology. The 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 of the models created.

Established in 2004 as a short-term insurance administrator for brokers, Alpha Insure has evolved into a key player in the South African insurance market, with an annual Gross Written Premium (GWP) approaching 2 billion Rand. Offering an extensive portfolio of both personal and commercial insurance products, Alpha Insure is dedicated to excellence and innovation, reinforcing its reputation as a trusted partner in risk management across South Africa's dynamic insurance landscape.

By adopting Akur8’s Pricing platform for its Property & Casualty line of business, Alpha Insure will be equipped with a state-of-the-art, cloud-based solution to support its development in the coming months and years.

“We are excited to begin this new journey with Alpha Insure in South Africa. Two years after we entered the market, this fourth collaboration with a South African Insurer solidifies our position as the leading provider of pricing software for the insurance industry in the region,” said Samuel Falmagne, CEO at Akur8. 

"We had an excellent experience during our trial period with Akur8. The platform streamlined every modeling step required, offering an intuitive, user-friendly interface that empowers us to interpret models effectively and make adjustments with ease. We achieved exceptional results in risk model performance, gaining clear visibility into variables and their corresponding coefficients. The platform’s statistical analysis capabilities enabled us to model effectively, even on thin data sets, with transparent indicators of model reliability. Akur8 also streamlined post-modeling analysis, making it easy to build and compare rating models against current pricing strategies, and precisely identify affected populations. The overall process, from data upload to variable selection and statistical examination, proved to be quick and highly efficient, underscoring the platform’s usability and robust functionality,” added James Reid, Actuarial Executive at Alpha Insure.

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About Akur8

Akur8 is transforming the non-life insurance industry with its innovative suite of pricing and reserving solutions.

Our Next Gen Pricing and Reserving Platform combines cutting-edge technology with actuarial excellence to drive business value, bringing speed, performance, transparency, and reliability to insurers of all sizes.  

Akur8 serves 250+ customers across 40+ countries, including AXA, MAPFRE, HDI, Mutua Madrileña, GNP Seguros and Santalucia. Over 3,000 actuaries use Akur8 daily to build their pricing models and reserving projections across all lines of business. 

About Alpha Insure

Alpha Insure is Africa’s largest independently owned Cell Captive UMA, underwritten by Guardrisk Insurance Company Ltd. Renowned for innovation and a results-driven approach, Alpha Insure consistently delivers exceptional value to clients, intermediaries, employees, and stakeholders. With a steadfast commitment to transparency and robust corporate governance, the company sets the standard for trust and accountability in the insurance industry.

Alpha Insure provides bespoke insurance solutions designed to meet the unique needs of multinational corporations, government institutions, local businesses, and individuals. Its adaptive coverage safeguards against evolving risks and addresses the demands of dynamic markets. By integrating deep expertise, advanced technology, and a forward-thinking vision, Alpha Insure continues to redefine leadership in the global insurance landscape.

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Contacts

For Akur8 

Edouard Dognin
Marketing Manager
edouard.dognin@akur8.com

For Alpha Insure

James Reid
Actuarial Executive
james@alpha.co.za

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