Insurance pricing relies heavily on predicting the behaviour of customers:
Will they undergo claims?
Will they buy the product at this price?
Will they renew their subscription next year?
Insurers need to predict the future and act on these predictions.
That’s why we created Akur8, the AI pricing tool.
Thanks to Akur8, insurers can easily predict these elements based on their historical data. They can control their strategies and maximize their profits, improve the precision of their pricing while reducing model building time by 10X.
How is that possible?
Akur8 is the only tool based on machine learning capabilities tailor-made for Insurance. In fact, the Akur8 team has created an XAI (Explainable Artificial Intelligence) with proprietary technologies that don’t exist anywhere else, specifically designed for actuarial modelling.
This technology proved to be much more effective than classic actuarial work and provides substantial gains in pricing quality and delivery speed.
Segment: Insurance / Pricing
Investment: Series A