Delivery of state-of-the-art pricing solutions to insurers is a key objective of the new relationship.
Akur8 and Xceedance announced a strategic partnership to deliver best-in-class actuarial and analytics solutions to insurance organizations.
The partnership between Xceedance and Akur8 provides an opportunity for insurers to gather extensive insights from internal or external data sources, enrich rate-making processes, and gain access to advanced actuarial expertise. By leveraging modern technology from Akur8 and industry proficiency from Xceedance, insurers can realize immediate and tangible improvements in operational performance. Benefits to insurers include increased rate-making process efficiency, faster time-to-market, and enhanced governance and compliance in the rating process, as well as top-line and bottom-line growth potential.
“Akur8 is excited to join forces with Xceedance, a leading and recognized expert in the actuarial services landscape,” said Samuel Falmagne, CEO at Akur8. “By combining our resources, we can deliver a strong actuarial value proposition to insurance organizations — leveraging our unique ratemaking platform and top-notch actuarial expertise from Xceedance.”
The unique Akur8 insurance pricing platform leverages an innovative combination of proprietary machine learning (ML) algorithms and transparent artificial intelligence (AI) — which allows actuarial and predictive modelling teams to significantly increase speed-to-accuracy, without sacrificing auditability and control.
“The Akur8 platform is distinctive in the pricing landscape, with an innovative approach to incorporating data science in the ratemaking process,” said Matthew Duke, chief actuary, head of global actuarial and analytics services at Xceedance. “Automation of critical steps in the predictive modelling process significantly reduces time-to-market, while maintaining high levels of precision and transparency. The Akur8 solution, combined with actuarial and analytics services from Xceedance, creates a powerful offering for insurance organizations worldwide.”
Technology enablement is a key focus for the Xceedance actuarial and analytics services team. By combining its offerings with strategic partnerships globally, Xceedance supplies a comprehensive suite of technology-driven solutions to insurers and reinsurers of all sizes. Companies with actuarial and analytics infrastructure can benefit from a streamlined deployment, while organizations with limited resources can access those solutions via advisory and consulting services from Xceedance.
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