Akur8, the insurance pricing and reserving solution powered by machine learning is pleased to announce the expansion of their alliance with Deloitte Canada.
Building on a collab since 2021, Deloitte said it will now leverage Akur8’s solutions for both pricing and reserving, marking a milestone in this partnership.
Developed for insurers, Akur8 leverages the power of machine learning and predictive analytics to inject “speed, performance and reliability into insurers’ pricing and reserving processes.”
Its suite of tools is designed to fully support actuaries and underwriters.
Deloitte will integrate Akur8’s pricing and reserving capabilities into its actuarial and consulting services, “providing property and casualty insurers with a comprehensive, scalable solution for improving efficiency, accuracy, and compliance.”
Karl Meissner-Roloff, Partner at Deloitte Canada said:
“We are excited to join forces with Akur8, as their innovative pricing and reserving platforms are at the forefront of actuarial technology. Through this collaboration, we can offer another avenue for our insurance clients to enhance their capabilities in pricing as well as driving transformative automation and efficiency in the reserving space. The combination of Akur8’s automated modeling capabilities with Deloitte’s proven transformation capabilities allows us to deliver cutting-edge solutions that drive business value for insurers across Canada.”
Samuel Falmagne, CEO at Akur8 said:
“Akur8 is committed to deepening our collaboration with Deloitte. By combining our advanced technology with Deloitte’s deep actuarial expertise, we’re creating a powerful value proposition for insurers looking to modernize their pricing and reserving strategies.”
Brune de Linares, Chief Client Officer at Akur8 said:
“We have been actively expanding our global footprint, and this broadened strategic relationship with Deloitte to deliver our combined performance to P&C insurers, insurtechs and MGAs worldwide is a natural next step for Akur8.”
As covered, Akur8 is transforming the non-life insurance industry with its pricing and reserving solutions.
Their Next Gen Pricing and Reserving Platform leverages technology to drive business value, “bringing speed, performance, transparency, and reliability to insurers of all sizes. ”
Akur8 serves customers across 40+ countries, “including P&C global carriers AXA, Generali, Munich Re, Europ Assistance, Tokio Marine and MS&AD; commercial P&C insurers TMNAS, FCCI, NEXT, HDVI and Canal; personal and commercial P&C insurers Cypress, Madison Mutual, Western Reserve Group and Georgia Farm Bureau; and specialty P&C insurers Canopius and Bass Underwriters.”
Actuaries reportedly use Akur8 on a daily basis to “build their pricing models and reserving projections across all lines of business.”
