Canopius Vave achieved a 6% combined ratio improvement
US / UK
Goal
Match Canopius’ clients’ needs and adapt prices to a dynamic marketplace
Module used
Results
6% Combined Ratio Improvement
What they say about Akur8
“On a combined ratio basis we’d be looking at a 6% improvement in our performance based off the work we did with Akur8. That’s a huge improvement for us, and is basically the difference between the class of business being loss making and performing well.”
Product Director at Vave, Canopius Group
“Akur8 has a great solution to a problem that we have – converting data into underwriting actions and so it makes perfect sense for us to work with them.”
Product Director at Vave, Canopius Group
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We didn’t want a black box where we couldn’t understand what was actually being modeled. We wanted to have full input, and we can do that with Akur8.
“Our team really values the speed of model creation and iteration, transparency and ease of reporting that Akur8’s Core Platform solution provides. Being able to review the indicated vs. predicted and then make a selection is something in the current pricing process that Akur8 helps make a lot more efficient. We also love that if a member of our team ever runs into a roadblock, Akur8’s live support is always there to help us resolve any issues that arise.”
“Akur8’s insurance pricing solution will enable TMNAS to quickly build intuitive and easily explainable predictive models across all products, providing new insights for underwriters. As a shared services company, it is key for us to be able to translate predictive information into useful measures for our clients. Akur8 will help us fill a missing component to complete the framework for transparent, and data-driven decision-making.”
