Akur8, the insurance pricing and reserving solution powered by Transparent AI, is pleased to announce its collab with RSM US LLP, which is the provider of assurance, tax and consulting services for the middle market.
RSM has reportedly used Akur8’s Reserving solution for a number of years and will aim to leverage Akur8’s Pricing solution (RISK, DEMAND and RATE modules) in order to offer enhanced actuarial services to its clients.
This achievement boost Akur8’s position as one of the global enablers of a Pricing and Reserving platform.
Developed for insurers, Akur8’s pricing solution enables pricing teams to make better decisions faster, by automating risk modeling using machine learning tech.
The benefits for insurers include predictive performance and speed-to-accuracy for higher market reactivity and business impact, while maintaining transparency and control of the models.
RSM’s arrangement with Akur8 demonstrates their dedication to redefining innovation via scalable digital solutions and experiences for clients, people and the firm.
Samuel Falmagne, CEO at Akur8 said that this agreement with RSM is a “significant” milestone for Akur8 as they continue to expand their presence in Canada and North America.
Samuel added that they are eager to bring innovative pricing and reserving solutions to a broader market, helping insurers improve accuracy, speed, as well as transparency.
With the recent acquisition of Arius, they are positioned to offer a suite of advanced capabilities that will aim to enhance how insurance firms approach pricing and reserving.
David Mamane, partner and actuarial leader with RSM Canada said that this collaboration with Akur8 marks a step in RSM’s commitment to advancing digital transformation and delivering solutions to clients across the industries we serve.
As noted in the update, Akur8 explains that it is sharply focused on transforming the “non-life” insurance industry with its innovative suite of pricing and reserving solutions.
Their Next Gen Pricing and Reserving Platform combines tech with actuarial excellence to drive business value, thus helping with “bringing speed, performance, transparency, and reliability to insurers of all sizes.”
Akur8 claims that it currently serves 250+ customers across 40+ countries, including AXA, Generali, Munich Re, Promutuel, SGI, ICPEI and Tokio Marine. Over 3,000 actuaries use Akur8 daily to build their pricing models and reserving projections across all lines of business.
Akur8’s acquisition of Arius expands its core capabilities, thus helping with bringing the reserving solution in-house.