Canopius Vave achieved a 6% combined ratio improvement
Location:
Goal
Match Canopius’ clients’ needs and adapt prices to a dynamic marketplace
Results
6% Combined Ratio Improvement
Feedback
“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.”
“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
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
“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.”
"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."
