The Next Generation Insurance Pricing Solution

Akur8 empowers actuaries and pricing teams
to make better decisions, faster.

Akur8 delivers unprecedented automation value to insurers’ pricing processes, powered by proprietary Transparent AI, unlocking untapped loss ratio improvement potential for insurers ready to join the pricing revolution.
Akur8 is the right partner to support insurers on their pricing sophistication. 

Pricing Process Automation Driving Business Impact

Akur8 is the only technology on the market that automates the generation of production-ready GAM/GLMs.
Akur8 injects game-changing speed and accuracy to insurers’ pricing process, allowing pricing teams to build highly predictive models in record time, while maintaining full transparency, auditability and control over the models created. 

A tab to compare the different types of modeling processes and their output models. The traditional approach has manuel modeling process and its output are transparent models. The generic ML algorithms generate automatic models but the outputs are black boxes. Akur8 has an automatic modeling process and for output transparent GAM and GLM.

A comprehensive modular SaaS solution

Leveraging its proprietary Transparent AI technology, Akur8 offers unique automation capabilities across the pricing value chain, with no integration cost and seamless API interfacing.

Akur8 solution explained with a scheme. You have 5 different sections. First "data", that can be followed by either "Risk" either "Demand". Those led to "Rates" and "Dynamic impact analysis".
Section

RISK

Generate, select and adjust models.
Enrich with automated interactions, geography and external data.
Aggregate models to compute covers and policies pure premiums.
  • Data uploading, visualization and preparation
  • New variables creation
  • Automated GLM/GAM modeling
  • Automated interactions between variables
  • Automated geography
  • External data exploration
  • Vehicle Classification
  • Pure premium building through models aggregation
  • Rating structure and automated documentation exports for audit 
Section

DEMAND &
DYNAMIC IMPACT ANALYSIS

Capture demand and price sensitivity based on behavioral  and competitor data.
  • Conversion modeling
  • Price elasticity modeling and visualization
  • Competitor data inclusion
  • Manual adjustment of elasticity
  • Geographic elasticity modeling
  • Impact and scenario analysis: clients reaction to price-changes (conversion rates, GWP, expected loss ratio, margins)
Section

RATES

Build your rates from data to production.
Make the best and most informed pricing decisions.
Monitor portfolio performance at granular level.
Identify performance gaps across segments.
Assess the impact of planned rate changes on an existing portfolio.
  • Rating table exports and integration with
    a rating engine
  • Premium adjustments
  • Leakage analysis (Loss Ratios, AP-TP)
  • Rate change analysis (dislocation)
  • Spotting of the most significant variables driving the dislocation
  • Ad-hoc portfolio visualization and reporting
  • Conversion vs retention
  • Custom KPIs on top of the premiums built
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New Features Revealed at
InsureTech Connect Vegas 2021:
Dislocation Analysis and
Automated Regulatory Filings

Section

DISLOCATION ANALYSIS

Assess the impact of planned rate changes on a portfolio. Design the rate plan that will be best aligned with the business’ overall portfolio strategy.

  • Visualization of rate change impact on portfolio
  • Discovery of the most significant variables driving the dislocation
  • Rate change analysis by segment
  • Actionable insights to adjust rates
Section

AUTOMATED
REGULATORY FILINGS

Exclusive US feature.
Automated generation of regulatory rate filings support documentation for each of the 50 US States.
  • Automated generation of a Regulatory Filings Support Documentation
  • Custom selection of all information required to file rate models in every state
  • Available to all US customers

Akur8 is API-enabled

Akur8 is opening APIs to empower insurers to get even more value out of our solution and ease overall integration across insurers’ complex existing IT solutions landscape.

API 4 characteristics: - Customize the automation level of your pricing process - Integrate with existing solutions Build your own features - Make Akur8 a part of your pipeline

Customers will be able to call Akur8 APIs from their own Python scripts with minimal set up across a wide range of use cases:

  • Upload database
  • Reuse database formatting
  • Launch Grid search 
  • Enrich a GLM with interaction and Geo 
  • Export rates and Predictions
  • Duplicate risk project on a new database
  • … and  more to come !

A plug-and-play solution with no integration needed and a highly collaborative tool

Unlimited number
of users
The Akur8 platform is accessible to an unlimited number of users, facilitating not only collaboration, but also pricing teams’ upskilling and efficiency.
New features released
every month
Our data science and development teams are delivering new features and product updates every month.
Your teams will automatically benefit from the latest releases.
Cloud-enabled productivity
Leveraging cloud technology to maximize parallelisation of tasks and projects
No integration cost
Akur8 is a plug-and-play
SaaS solution.
No integration with IT legacy systems is required.
No set up delays or costs.

Our company's certificates

Security, safety, robustness in all aspects of our work are of utmost importance to us.
Our certificates are a reflection of this commitment.

The certificate afaq, and Afnor certification. ISO/IEC 27001 : 2013
The certification FSQS registered

How to get started?
Run a pilot with us

To test the value of Akur8 in real life, the best way is to run a pilot with us: you will be able to test Akur8 in a secure environment, using your own datasets, so that your teams can measure and validate the immediate benefits of the solution.
The pilot lasts 10 days and is free of charge.

CONTACT US
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