New York, NY – November 21, 2024

Akur8, the next-generation insurance pricing and reserving solution powered by transparent machine learning, is thrilled to announce it has partnered with the American Association of Insurance Services (AAIS), the leading not-for-profit advisory organization for the Property and Casualty (P&C) insurance industry, to enhance the quality of their predictive modeling.

Developed specially for insurers, Akur8’s solution enhances pricing processes by using proprietary machine-learning technology. The core benefits for the P&C insurance marketplace include accelerated model building, transparent Generalized Linear Modeling (GLM) outputs, and data-driven underwriting.

“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.

‍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 P&C global carriers AXA, Generali, Munich Re, Europ Assistance, Tokio Marine and MS&AD; commercial P&C insurers TMNAS, FCCI, NEXT, HDVI and Canal; personal and commercial P&C insurers Cypress, Madison Mutual, Western Reserve Group and Georgia Farm Bureau; and specialty P&C insurers Canopius and Bass Underwriters. Over 3,000 actuaries use Akur8 daily to build their pricing models and reserving projections across all lines of business.

ABOUT AMERICAN ASSOCIATION OF INSURANCE SERVICES (AAIS)

Established in 1936, AAIS serves the Property & Casualty (P&C) insurance industry as the only national not-for-profit advisory organization governed by its Member insurance carriers. AAIS delivers high-quality advisory solutions, including best-in-class policy forms, rating guidelines, and data management capabilities for commercial lines, inland marine, farm & agriculture, auto, and personal lines insurers. Their consultative and unbiased approach, unrivaled customer service, and innovative technical capabilities underscore a focused commitment to the success of their Members. With the implementation of Akur8’s Core Platform Solution, AAIS will further empower its Members with innovative tools to enhance their pricing strategies and market responsiveness. Learn more about AAIS at AAISonline.com.

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Press Contacts

Akur8

Heide Sacher

Head of Marketing for US

908-977-6526

Heide.Sacher@akur8.com

AAIS‍

Wen Tilghman

Director of Marketing & Communications

went@aaisonline.com