Canal Insurance to boosts their commercial lines pricing capabilities with Akur8
Location:
Goal
Enable actuarial team to quickly build comprehensive models and implement model testing into their pricing process.
Results
Within 2 weeks the team was able to build over 3,000 models.
Feedback
“Speed wins in our business. Using Akur8’s solution allows our pricing actuaries to build models more quickly, giving us more time for testing and, more importantly, improving speed to market on our product offerings.”
Paul Brocklebank, President and CEO at Canal Insurance Company
Drive business value by bringing your end-to-end pricing process to the next level
Akur8 is the only technology on the market that automates the generation of production-ready GAM/GLMs. Thanks to its unique proprietary algorithms, it delivers tremendous business value by unlocking untapped combined ratio improvement.
Other use cases
"Together with Akur8, we’re able to further innovate upon our current capabilities to deliver even more accuracy, speed and efficiency at scale for NEXT’s growing customer bases."
"We found insightful interactions after one day of modeling with Akur8’s insurance pricing solution. Leveraging this user-friendly and transparent platform will enable our pricing team to build better models faster across more lines of business."
“Providing efficient, reliable and consistent pricing creates a win-win for the risk taker and agent. Having the ability to improve risk pricing by running complex models and updating those models as new data comes in at any moment is a game changer for us, and a competitive differentiator. It is crucial for the rapidly changing E&S marketplace.”
