Frequently Asked Questions
About the solution
Can your solution be adapted for my team?
Akur8 adapts to all insurance pricing teams, small or large, with different experience levels. The solution is designed for business users, and no coding skills are required! It allows for a fast ramp-up and is collaborative by design, so junior team members and newcomers will become proficient in a short time..
My team has become accustomed to our current process. Won’t we lose time learning a new platform?
Ramping up on Akur8 is fast thanks to its intuitive and friendly user interface (UI). Once you’ve tried it, you will not want to go back!
How will Akur8 bring additional value vs. my current process?
We offer a free pilot so you can directly compare our solution and its performance with your current process and modeling tool.
Is Akur8 relevant for all lines of business?
Akur8 is deployed around the world across all non-life lines of business. This includes P&C and health - whether personal, commercial or specialty lines - all the way to pet insurance. It is used on a daily basis by large international insurers as well as insurtechs and MGAs. It is equally efficient on small and large data sets, so reach out and see for yourself!
Does Akur8 cover the pricing process end-to-end? Will I encounter compatibility issues with other tools, such as my rating engine?
Akur8 has a very broad scope, from data ingestion to scenario testing to building commercial premiums / rating plans. Akur8 outputs come in a wide range of formats and are compatible with most downstream tools and rating engines. Akur8 is also API-enabled, to facilitate integration with your pricing pipeline.
I have limited and noisy data with few variables. Would using machine learning still generate value?
Akur8 can bring value even for clients with a few thousand lines. Our proprietary machine learning algorithms will suggest simple but performant models that guide your decision-making process thanks to the standardized modeling process and powerful visualization suite.
My local regulations are very constraining. Am I still able to use Akur8?
Akur8 will accommodate local regulation constraints. Using a rigorous statistical framework, Akur8 generates standard table-based ratings, all within the GAM/GLM framework, which is recognized as the industry standard. You can also incorporate multiple types of constraints within the platform, and offset and modify models manually to satisfy even the most stringent regulations.
We need to keep full control on our models so I assume machine learning is not for me?
At Akur8 we understand that maintaining full control of the models created is critical in insurance. That’s why our transparent AI technology leverages machine learning to produce fully auditable, controllable and editable models. Akur8 delivers the best of both worlds to your pricing process: the speed and performance of machine learning, and the transparency of GAMs/GLMs.
GAMs/GLMs are relatively simple. Will I still get good predictive power?
We’ve benchmarked our solution against several machine learning technologies, and can confirm that our automatically-built models are typically on par with finely-tuned and time-consuming open-source alternatives. Akur8 captures nonlinearities by default, and thanks to its automatic binning and backed-in credibility notions, it easily creates very performant models.
We’ve been fine so far using just Excel, so why should we change?
We believe there is tremendous value in implementing a data-driven approach that complements the pricing teams’ expertise. Using GAMs/GLMs can generate significant time and performance improvements across the pricing process. In addition,most industry players are increasingly investing in predictive analytics, so introducing a performant pricing solution becomes a must-have to stay ahead of the game!
Why would I invest in a modeling tool when data preparation takes most of our time?
Akur8 easily allows for some degree of data preparation from inside the solution, and is compatible in output with most of the current rate deployment solutions on the market. Because of this it partly alleviates this pain point. In addition, faster modeling will enable your team to focus on improving the current process around data collection/preparation and implementation.
About your data
I don’t have enough data, can Akur8 still add value?
Akur8 will enable you to extract value from any type of database, regardless of its size. Akur8 will always leverage the maximum statistical power of the data, no matter how many rows or columns are in the database.
My database is not clean, isn’t there a risk of misusing it?
If there are issues or missing values in the database, the software detects them. Akur8 has implemented safeguards to prevent users from wrongfully using corrupted data.
Is there a maximum database size that Akur8 can handle?
No, the software can handle any size of database. Cloud resources will be automatically adjusted to database size.
About security
Isn’t using the cloud too risky for sensitive information?
At Akur8, we take security very seriously. Your data is safely stored in a dedicated environment by the largest global cloud services provider, and can only be accessed from the platform in an aggregated form. We are ISO 27001-certified and are constantly improving our security standards. We will happily comply with your security requirements, as we have successfully done with our large client portfolio.
About recruitment
Is Akur8 an equal opportunity employer?
Akur8 is, in every sense of the term, an equal opportunity employer. We promote individual differences to ensure a healthy and inclusive work environment for all our employees.
I can't find my country listed in my Akur8 job search, can I still apply?
Yes, absolutely!. We can discuss a potential relocation, or future office openings, to fit around your situation and our needs.
How will I know if my application has been received?
Whether you are applying through our career website or a job board, be assured that we always receive it through our ATS (Applicant Tracking System). We provide an answer to all applications, whether that is to continue the recruitment process, or to let you know we will not be moving forward.
What are the steps in Akur8 's hiring process?
The hiring process is different for every open position, but they all start the same way. The first person you will be in contact with (by phone or video call) will be one of our Talent Acquisition Managers. This first interview will allow you to get more information about us, the role and the different steps of the recruitment process, and for us to learn more about you, your background, what you are looking for and why you’re interested in Akur8. On technical roles, you will then have a technical assessment. For non-technical roles, you will meet the hiring manager. In the final stage of our process, candidates will meet with several managers and founders, visit our office and have a real understanding of who we are as a team and a company, and what our values are.
Will I be considered for positions other than the one I submitted my resume for?
Yes, our Talent Acquisition team and Hiring Managers have a good understanding of all the open positions at Akur8, so they will recommend your profile if they think you would be a good fit in another role. You will be informed and presented with this other position.
Will you contact me regarding the status of my application?
Yes we will. During the interview process, our Talent Acquisition Managers will keep you informed regarding the status of your application.
What type of people are you looking for?
At Akur8, we are looking for professionals who love challenges and are eager to work in a fast growing and multicultural organization. If you are a team player, love getting things done, are skilled at making complex things feel simple, and are eager to learn, then the Akur8 team will be happy to welcome you!
Does Akur8 offer internships or apprenticeships?
Yes we do. Each year we hire several interns and apprentices to work with our different teams. We often look for students near the end of their studies, as we like to offer permanent contracts (CDI) to them upon completion of their internship/apprenticeship. You will find open positions for our internships and apprenticeships on our site along with our permanent roles.
Does Akur8 sponsor visa applications?
Yes we do, for most positions, provided the visa petition stands a reasonable chance of being approved in a manageable timeframe. We will clarify what your visa situation is during your first interview, and will ask you to send us documents later in the process so we can seek legal counsel regarding visa options available for your situation with our specialized immigration agencies and attorneys.
Do I need to have insurance industry experience?
You don’t need insurance industry experience in most positions at Akur8. The only department where insurance industry experience is essential is our Actuarial Data Science (ADS) team, as ADS’s act as subject matter expert’s (SMEs) with our insurer clients.
Is there the possibility to work internationally?
Yes. We currently have international offices in Paris, New York, London, Milan, Cologne & Tokyo, with more to follow. Both short and long-term positions are open in these locations to fill Akur8’s growing needs.
What makes working in the insurtech industry so exciting?
The insurance sector is undergoing a tremendous transformation that is reshaping the industry. The increasing use of machine learning at scale is one of the major forces driving this transformation. Akur8 has been revolutionizing insurance pricing with proprietary, Transparent AI since 2018 with great success and a strong continued momentum. If you are eager to have an impact and make a difference in a fast-paced environment, this is where the magic happens!
Does Akur8 help with interview costs (train, plane tickets, etc.)?
Absolutely. If you travel to one of our office locations for an interview, Akur8 will take care of the reservations for both travel and - should it be necessary - hotel accommodation.
Does Akur8 help new employees with administrative / relocation requirements (finding an apartment, setting up a bank account, registering with the authorities, etc.)?
Yes we do. Akur8 and its partners are able to assist with a variety of needs in order to facilitate the integration of new employees. Whether relocation, visa applications, finding an apartment, setting up a bank account or registering with the local authorities, at Akur8 we will help you every step of the way.
I’m a parent. Does Akur8 offer childcare / nursery facilities?
Yes we do. We have partners to help employees identify and reserve childcare / nursery facilities closest to their home with priority access. Currently, this benefit is available for full time employees at our Paris office.
What things - other than base salary - are included in the Akur8 compensation package?
The detailed list of benefits depends on your location / country of employment. Overall, Akur8 offers attractive benefit packages for all employees, including a competitive salary and bonus, company stocks or stock options, training opportunities (including language classes if relevant to your position or relocation), transportation and mobility support, family-friendly health plans and great offices that you will love!
What kind of events does Akur8 have for company employees?
Akur8 hosts many events for its employees. From internal events such as themed evenings, game nights and company barbecues, to external events such as charity walks and football / tennis tournaments, we like to encourage company cohesion and provide a fun and inclusive atmosphere to get to know your colleagues better.
