Akur’s goal is to become the backbone of actuarial practices around the world. Akur8 uses machine learning technology to redefine the insurance risk modeling process. It has been created to turbocharge actuarial teams in developing GLM (Generalised Linear Model) for pricing – a process that is currently cumbersome, resource intensive and error-prone.
Model building is up to 10 times quicker with Akur8 than when conducted manually. This is desirable from an operational efficiency point of view, and also offers tremendous potential to capitalise on unfolding or emergent market opportunities.
Akur8 raised its Series A from Blackfin Capital Partners and MTech Capital.