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
“The Akur8 platform does a remarkable job at streamlining complex ratemaking and modeling tasks. By leveraging this solution, our team can quickly run pricing and profitability models for multiple lines of business, across geographic locations. Akur8 allows us to easily summarize complex results and distribute them across internal teams.”
"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."
“As a data-driven company, HDVI continues to invest in tools that leverage our proprietary big data sets and telematics data to develop industry-leading insights and risk models.The Akur8 platform enables greater collaboration across our growing team. By eliminating the coding language barrier and providing increased transparency, it will reduce errors and allow us to more quickly develop additional models that can be incorporated into our insurance product and safety solutions.”
