NEW YORK, NY – September 12, 2024

‍Akur8, the next generation insurance pricing solution powered by transparent machine learning, is thrilled to announce its partnership with Heritage Insurance, a leading property and casualty insurance holding company headquartered in Tampa, Florida. Heritage has selected Akur8’s Risk modeling solution to improve and enhance their pricing analytics and rapidly build transparent, production grade predictive models. Through this agreement, Akur8 further expands its presence within the personal and commercial insurance marketplace in the U.S.

Developed explicitly 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 GLM outputs, and data-driven underwriting.

“We are excited to work with Heritage, a strong company with a seasoned senior management team. Akur8’s software will empower their pricing team to move faster and modernize their pricing processes. This partnership demonstrates the relevance and attractiveness of Akur8’s solution for insurance providers across all lines of business,”  said Samuel Falmagne, CEO at Akur8.

Brune de Linares, Chief Client Officer at Akur8 added, “Teaming up with such a well-known and established company like Heritage Insurance, with a large and respected network of experienced agents, is an exciting step in the growth of Akur8’s solution in the U.S. market.” 

Heritage Insurance Holdings, Inc. is a super-regional property and casualty insurance holding company. Through its insurance subsidiaries and a large network of experienced agents, the Company writes approximately $1.3 billion of gross personal and commercial residential premium across its multi-state footprint.

“Akur8’s solution has been incredible in enabling our pricing team to work better and faster. For a new modeler, the platform is very user-friendly and is easy to get comfortable with, which has allowed us to seamlessly integrate the solution and quickly improve our pricing sophistication and predictive performance.  Akur8’s software supports Heritage’s mission to best serve our policyholders by delivering exceptional homeowner’s insurance products at the most affordable prices," stated John Wiechecki, Chief Reserving Actuary at Heritage.

ABOUT AKUR8

Akur8 is revolutionizing non-life insurance pricing with Transparent Machine Learning, boosting insurers’ pricing capabilities with unprecedented speed and accuracy across the pricing process without compromising on auditability or control. 

Our modular pricing platform automates technical and commercial premium modeling. It empowers insurers to compute adjusted and accurate rates in line with their business strategy while materially impacting their business and maintaining absolute control of the models created, as required by state regulators. With Akur8, time spent modeling is reduced by 10x, the models’ predictive power is increased by 10% and loss ratio improvement potential is boosted by 2-4%. 

Akur8 already serves 100+ 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 and Western Reserve Group; and specialty P&C insurers Canopius and Bass Underwriters. Over 900 actuaries use Akur8 daily to build their pricing models across all lines of business. Akur8’s strategic partnerships include Milliman, Guidewire, Duck Creek and Sapiens.

ABOUT HERITAGE

Heritage Insurance believes that experience matters, having a management team with over 500 years of combined experience in the personal and commercial insurance market. Named to the Tampa Bay Times Top 100 Workplaces for both 2014, 2016, and 2017, Heritage understands the importance of working together with the agent and the homeowner, and works hard to be there for its customers from the smallest problem to a major disaster. For more information, visit the Heritage website at heritagepci.com, and stay up to date with the latest news by visiting their Linkedin. 

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PRESS CONTACTS

Heide Sacher

Head of Marketing for US

AKUR8

908-977-6526

heide.sacher@akur8.com 

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