Akur8, the insurance pricing and reserving solution powered by transparent machine learning, announced the opening of its new office in the heart of Madrid, Spain. This marks Akur8’s eighth international office, reinforcing its commitment to serving clients and partners throughout the world.
Spain is said to be a strategic growth market for Akur8, with (reported) more than 15 insurers currently adopting its platform.
Among them are market participants like AXA, MAPFRE, and Santalucía, who are leveraging Akur8’s digital tech in order to transform their pricing processes and strengthen their competitive position.
As one of Europe’s relatively sophisticated and high-potential insurance markets, Spain presents “significant opportunities for continued growth.”
The opening of the Madrid location will aim to strengthen Akur8’s local presence, providing dedicated on-the-ground “support to clients and enabling closer collaboration with prospects and partners.”
This latest expansion efforts now reinforces Akur8’s mission to enables insurers worldwide with more “accurate, and fully transparent pricing and reserving capabilities.”
Samuel Falmagne, CEO of Akur8 has said that opening up their Madrid office is considered to be “a natural next step in our European growth journey.”
They also claimed that Spain is home to some of the “most forward-thinking insurers in Europe,” and they are now eager to “work even more closely with them to deliver cutting-edge pricing innovation and value.”
The addition of Madrid to Akur8’s network highlights the company’s role in scaling internationally while maintaining “a local approach to customer support and collaboration.”
Akur8 is transforming the non-life insurance industry with its suite of pricing and reserving solutions.
Their Pricing and Reserving Platform reportedly combines digital technology with actuarial expertise to enable business value, “bringing reliability to insurers of all sizes.”
Akur8 serves customers across 40+ countries, “including AXA, Generali, Munich Re, MAPFRE, HDI, Tokio Marine, and MS&AD.”
Actuaries now reportedly use Akur8 on a daily basis in order to “build their pricing models and reserving projections across all lines of business.”