Akur8, the insurance pricing and reserving solution powered by Transparent ML, is announcing its collaboration with Windward Risk Managers, the company that manages Florida Peninsula Insurance, Edison Insurance, and the newly formed Ovation Home Insurance Exchange.
Windward selected Akur8‘s Core Platform solution to enhance their predictive modeling framework, elevating pricing efficiency across personal lines of business.
Developed for insurers, Akur8’s pricing solution empowers pricing teams to make better decisions faster, by automating “risk modeling using proprietary transparent machine learning tech.”
The benefits for insurers include the following: increased predictive performance and speed-to-accuracy for higher market reactivity and immediate business impact, while maintaining “transparency and control of the models created.”
Recognized as a provider of homeowners, condo, and renters insurance, Windward is said to be known for its “financial strength and commitment to protecting Florida families.”
The company’s approach to risk management and pricing aligns with Akur8’s mission to “transform insurance pricing.”
Samuel Falmagne, CEO at Akur8 said that their pricing solution will enable their team to build predictive models efficiently, while providing “transparency and precision in their pricing decisions.”
Brune de Linares, Chief Client Officer at Akur8, agreed that this collab showcases the power and flexibility of Akur8’s tech and reflects their continued expansion in the US market.
Brent Petzoldt, Director of Actuarial and Data Science at Windward Risk Managers said that Akur8 is committed to positive user experience, both of which bring value to our partnership.
Akur8 is transforming the non-life insurance industry with its pricing and reserving solutions.
Their Pricing and Reserving Platform combines tech with actuarial excellence to drive business value, bringing “speed, performance, transparency, and reliability to insurers of all sizes.”
Akur8 serves 250+ customers across 40+ countries, including “AXA, Generali, Munich Re, MAPFRE, HDI, Tokio Marine, and MS&AD.”
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, bringing the reserving solution in-house.
Headquartered in Boca Raton, Florida, Windward Risk Managers has has been offering policyholders competitive rates and customizable policy options.
Since 2005, the portfolio of Florida Peninsula, Edison, and Ovation Home Insurance Exchange has grown to be one of the “largest” in Florida with total written premiums exceeding “$1.3B and over 300,000 policyholders.”
