Akur8, the pricing and reserving Platform, is pleased to announce a collaboration with Post Telecommunication Joint Stock Insurance Corporation (PTI), a non-life insurer in Vietnam.
PTI will leverage Akur8 Pricing platform to “strengthen its actuarial capabilities and deliver both fair and competitive insurance pricing in a rapidly evolving market.”
Developed specifically for insurers, Akur8’s platform enhances “pricing processes by using machine-learning technology.”
The core benefits of Akur8 Pricing “for the P&C insurance marketplace include accelerated model building, transparent outputs, and data-driven pricing.”
By adopting Akur8 Pricing, PTI’s actuarial team will “gain deeper insights into its portfolios, while improving agility and precision in a regulatory environment that is increasingly open to sophistication.”
Akur8’s pricing platform will also enable PTI to “bridge the gap between the actuarial function and its stakeholders, fostering a clearer understanding of risk analysis and pricing decisions.”
Before partnering with Akur8, PTI tested the platform, “building hundreds of models in just one month.”
This experience demonstrated the platform’s potential “for faster model development, increased flexibility in making adjustments, and fully informed, transparent decision-making.”
Mr. Tien Pham Hong, Actuary Manager at PTI said:
“There is no need to comment on the functionality of Akur8, as it has already proven itself to be a streamlined, user-friendly and efficient program for modern actuaries, trusted by companies worldwide. What we appreciate most, however, is the team behind the platform. They are always available to assist with any questions or issues, and they consistently put in their best effort to improve the user experience. These are qualities you won’t always find in other solutions on the market.”
Samuel Falmagne, CEO at Akur8 said:
“We are honored to collaborate with PTI, a leading player in Vietnam’s non-life insurance sector. By equipping PTI’s actuarial team with our advanced pricing platform, we are supporting their journey towards more data-driven, agile, and future-ready pricing processes in an increasingly competitive market.”
As covered, Akur8 is transforming the “non-life insurance industry with its innovative suite of pricing and reserving solutions.”
Their Next Gen Pricing and Reserving Platform “combines technology with actuarial excellence to drive business value, bringing speed, performance, transparency, and reliability to insurers of all sizes.”
Akur8 serves 300 customers across 40+ countries, “including AXA, Generali, Munich Re, MAPFRE, HDI, Tokio Marine, and MS&AD.”
Over 3000 actuaries use Akur8 in order to “build their pricing models and reserving projections across all lines of business.”
As noted in the update, Post & Telecommunication Joint Stock Insurance Corporation (PTI) is one of Vietnam’s non-life insurers.
PTI provides a comprehensive range of insurance products and “services across motor, property, marine, health, and personal accident insurance.”
With an extensive distribution network and “a strong commitment to customer service, PTI serves both individual and corporate clients nationwide.”
PTI continues to innovate and expand its offerings to “meet the evolving needs of Vietnam’s dynamic insurance market.”