Akur8, the insurance pricing solution, and Guidewire, the property and casualty (P&C) insurance cloud platform, are excited to announce that the Ready for Guidewire validated Akur8 Accelerator for AI-Powered Pricing is now fully available for both cloud and on-premise users of PolicyCenter, offering a fully integrated pricing solution for the insurance industry, accessible through the Guidewire Marketplace.
Samuel Falmagne, CEO of Akur8, said:
“We are thrilled that the Akur8 Accelerator is now a cloud-native integration with Guidewire. It is a significant milestone for Akur8. By seamlessly combining Akur8’s cloud-based, cutting-edge AI-powered pricing technology with Guidewire’s leading PolicyCenter platform, we empower insurers to break free from traditional rate deployment constraints, and establish new standards for excellence in the insurance industry.”
With the Akur8 Accelerator, insurers can experience:
- A cloud-native, fully integrated pricing solution from modeling to deployment, bringing unparalleled, up to 10X faster speed to market, for new rates and rate changes
- Elimination of the traditional IT bottleneck
- Error reduction and increased security
- Improved internal governance and compliance.
Will Murphy, Vice President, Global Technology Alliances, Guidewire, said:
“Akur8’s cloud-based, machine-learning (ML) native insurance pricing solution provides a streamlined user experience to actuarial and pricing experts worldwide. The Guidewire Rating Engine powered by Akur8 models gives our customers choices in designing a best-in-class pricing and rating solution, and allows each platform to perform where they excel. This integration redefines the traditional rate deployment process by eradicating the manual labor burden that often hinders pricing efficiency, resulting in increased agility and speed-to-market for insurers.”
Joanna Chardon, Chief Strategy & Product Officer at Akur8, said:
“Akur8 Accelerator allows for the seamless export and deployment of Akur8 built models into the Guidewire PolicyCenter rating engine, creating a cloud-native fully integrated insurance pricing solution from data to model creation to production rating. Designed exclusively for P&C (non-life) insurance carriers, insurtechs and MGAs, the Akur8 Accelerator accelerates time-to-market for new rates and products by introducing cutting edge automation, providing increased security, removing the IT bottleneck, and largely eliminating the potential for human error.”
Akur8 is enhancing non-life insurance pricing “with Transparent AI. We enhance actuarial capabilities with our user-friendly, machine learning (ML) native solution, built on cutting-edge technology.”
Their cloud-based, fully integrated platform empowers insurers “to price at unprecedented speed, directly influencing financial outcomes and enhancing risk assessments.”