Akur8's 2024 Annual Report
A Year of Actuarial Milestones
EDITORIAL
As we close the chapter on 2024, we pause to celebrate a remarkable year for Akur8 defined by strategic growth, international expansion, and our deepened commitment to transforming the insurance industry through innovation and data-driven solutions. It has been a year of extraordinary accomplishments, and I’m both incredibly proud and deeply inspired by all that we have achieved together.
One of the defining moments of the year was our strategic acquisition of Arius, a highly regarded reserving solution company. This milestone represents a significant step forward for Akur8 as we broaden our actuarial capabilities to address an even wider spectrum of insurance needs. This not only enhances the depth of our offerings but also aligns with our vision to become the go-to actuarial platform for insurance organizations globally.
In line with our ambitious growth plans, we closed a $120 million Series C funding round, a strong endorsement of Akur8’s potential and vision. This significant investment enables us to fast-track product development, expand our global reach, and continue advancing the cutting-edge actuarial solutions that drive our mission. By focusing on enhancing our platform, we ensure the scalability of our solutions and are well positioned to stay ahead of the industry’s evolving needs.
Demonstrating our commitment to supporting insurers worldwide, we expanded our footprint this year with new offices in Montreal and Atlanta, extending our reach across North America. With a team of over 165 employees worldwide, Akur8 now operates from eight strategic locations globally: Paris, New York, Tokyo, London, Cologne, Milan, Montreal, and Atlanta. This geographic expansion enables us to deliver more localized, personalized support to our clients, reinforcing our presence in both established and emerging markets.
Innovation remains at the heart of Akur8, and this year we proudly introduced two powerful new modules, Optim and Deploy, to our platform. These additions are vital steps forward in our commitment to delivering an adaptable, end-to-end solution tailored to the unique challenges of each client.
The future holds immense promise, and I am filled with optimism for what lies ahead. With an expanded team, an enhanced, global presence, and a robust suite of solutions, Akur8 is well-positioned to continue driving meaningful change in the insurance industry. None of this would have been possible without the dedication and support of our talented team, loyal clients, and trusted partners. Together, we have laid a strong foundation for future success, and I look forward to all we will accomplish in the coming years.
Thank you for being a part of our journey.
THE ARIUS ACQUISITION
In 2024, Akur8 achieved a critical milestone in its mission to redefine actuarial practices with the acquisition of Arius, a leading reserving solution provider within the insurance industry, from Milliman. This strategic move underscores Akur8’s commitment to expanding its core capabilities and delivering an end-to-end actuarial platform that anticipates and meets the changing needs of insurers globally.
Charles HoffmanHead of Software Development - Reserving at Akur8
Ken ScalfHead of Operations - Reserving at Akur8
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“It became clear that this wasn’t just a transaction—it was an opportunity to take what we had built and elevate it to the next level. That energy, that potential for acceleration, is what fuels my drive and keeps me energized, both in the early hours of the morning and late into the night.”
STATE OF BUSINESS
Throughout 2024, our Sales, Partnerships and Marketing team played a pivotal role in expanding Akur8's global presence by signing new customers across five continents. This significant growth highlights the global demand for a best-in-class pricing tool, across all types of insurers and lines of business.
Brune De Linares
Chief Client Officer at Akur8
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I’m particularly proud of how we’ve upskilled our teams to offer additional modules—Rate, Optim, and Deploy. This ensures we’re not only meeting but anticipating the evolving needs of our clients with cutting-edge solutions.
SERIES C FUNDING
In 2024, Akur8 reached a major milestone by securing $120 million in Series C funding, bringing the company’s total funding to $180 million. This achievement underscored the confidence our investors have in Akur8’s vision and our ability to transform the insurance industry. The round was led by prominent investors One Peak and Partners Group, whose support will enable Akur8 to continue its mission of empowering insurers with cutting-edge actuarial solutions.
Humbert de Liedekerke BeaufortCo-Founder and Managing Partner at One Peak
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Insurance is a notoriously difficult industry to sell into, and one of the things I find most impressive is the fact that Akur8 has signed blue-chip logos in more than 40 different countries, some of which are large Tier 1s.
OUR PRODUCT
As a true SaaS tech company, Akur8 is committed to continuous innovation and improvement of its cutting-edge pricing and reserving platforms. With a product that evolves dynamically to meet the ever-changing needs of the industry, we invest significant resources into product development.
Akur8 Pricing Platform
Technical foundation
Strategy
Implementation
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Bruno Bécha
VP Product & Actuarial at Akur8
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Expanding into the pricing engine market with Akur8 Deploy is an exciting next step for us, as it completes the full pricing lifecycle for insurers. While designing an optimal pricing strategy is critical, the ability to execute and implement that strategy efficiently is just as important.
Akur8 Reserving platform
- Scalable Data Management
- Powerful Query Capabilities
- Direct Import to Arius
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- Analysis Templates
- Rich Stochastic Modeling
- Reserving Model Library
- Actuarial Function Library
- Easy Customization
- Powerful Report Printing
- Cloud-based (Microsoft Azure)
- Automation across Projects
- Project Management
- Analysis / Reporting Database
- Governance & Security
- Allocation Capabilities
Felix d'AlançonChief Operating Officer &
North America Coordination at Akur8
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The inherent connection between pricing and reserving, combined with Akur8's proven expertise in developing solutions to address these challenges, made expanding into reserving a logical and strategic progression.
ACTUARIAL THOUGHT LEADERSHIP
Advancing Actuarial Science with CAS Monograph on Lasso Credibility
In 2024, Akur8 demonstrated its commitment to actuarial innovation with the publication of a new CAS monograph, "Penalized Regression and Lasso Credibility." Authored by Akur8’s actuarial experts Thomas Holmes and Mattia Casotto, the monograph explores the limitations of Generalized Linear Models (GLMs) and introduces penalized regression, and a new procedure called Lasso Credibility as solutions to these shortcomings. This work reflects Akur8’s dedication to advancing actuarial science through research and thought leadership, aligning AI-powered techniques with the profession’s evolving needs. By bridging mathematical rigor and real-world application, Akur8 continues to empower actuaries to make better decisions, faster.
OUR PEOPLE
Our new offices
Akur8 continued its global expansion this year by establishing new offices in Montreal and Atlanta. These additions complement our existing network of offices in Paris, London, Milan, Cologne, New York, and Tokyo, further solidifying our international footprint.
Delphine MarshChief Talent Officer
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This merger has reinforced our shared values. Just a few months after the integration, it’s clear that the Arius team resonates with the values we hold dear: Excellence through expertise, Drive to go further, Humility in all we do, and Empathy for our clients and colleagues.
Our past reports
2023
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