How Munich RE sophisticated its pricing
Location:
Goal
Bring increased value and pricing sophistication to Munich Re’s customers, in a transparent way
Module used
Results
Ongoing use of Akur8 by Munich Re consulting experts serving insurers globally
Feedback
”Akur8’s strengths, pivoting on the commodification of prediction power, allow for what we call “The third wave” of insurance pricing: while keeping full control on the process, most of the time of the domain expert is spent on understanding the problem and applying the right solution, not in tedious repetitive modeling tasks.”
Massimo Cavadini, Global Head of Actuarial Consulting and Data Analytics at Munich Re
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
“Our team really values the speed of model creation and iteration, transparency and ease of reporting that Akur8’s Core Platform solution provides. Being able to review the indicated vs. predicted and then make a selection is something in the current pricing process that Akur8 helps make a lot more efficient. We also love that if a member of our team ever runs into a roadblock, Akur8’s live support is always there to help us resolve any issues that arise.”
“Akur8’s insurance pricing solution will enable TMNAS to quickly build intuitive and easily explainable predictive models across all products, providing new insights for underwriters. As a shared services company, it is key for us to be able to translate predictive information into useful measures for our clients. Akur8 will help us fill a missing component to complete the framework for transparent, and data-driven decision-making.”
"We foster innovation through various initiatives, and value integrity and fairness: Akur8’s transparent solution is perfectly aligned with these core principles. Akur8 will provide us great potentialities to be able to become the company and the group which sustainably have capabilities to develop various products and services for realization of a safe and secure society."
