Pricing processes using traditional GAMs/GLMs remain long, manual and iterative. While AI could significantly improve this process, standard ML approaches, typically ‘blackbox’, are not applicable because of regulatory constraints and anti-selection risks.
Akur8 is the only solution on the market reconciling Machine Learning and Actuarial worlds.
Akur8 automates modeling for insurance companies while keeping full transparency and control on the models created, as required by regulators worldwide.
A modular solution covering the entire pricing suite
Ingest data and prepare your database.
Pre-process to remove anomalies.
Generate, select and adjust models.
GLM, Geography, Interactions in the same place.
Aggregate models to compute covers and policies pure premiums.
Measure demand and price sensitivity based on customer profile and competitor data.
Test the impact of “what if” pricing scenarios and analyze them following different KPIs.
Define a clear pricing strategy: launch a dynamic optimisation to meet your goals of growth or profitability.
Automated models creation
Reduce your model building by 10 times and accelerate your time-to-market.
Increased predictive power
Increase the predictive power of your models by +10%.
A smooth and effective process
An intuitive user interface built for actuaries to allow the most efficient process possible.
A reliable and consistent process
Keep trace of all models and modeling steps.
Apply consistent adaptations to similar databases or modeling work.
Control & Impact your models
Focus on the expert-driven part of the risk modeling process.
Share information easily on your models
Generate automatic reports to communicate easily on your models and modeling choices made, to allow for traceability and facilitate communication between senior leadership and actuarial teams.
A multi-user solution
A unique workspace for the teams.
A solution accessible from anywhere
Access the solution remotely from anywhere, ensuring business continuity.
Want to test Akur8?
80%+ of the insurers who did a pilot with us are using our solution.