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.
Akur8 is transforming insurance pricing with Transparent AI. Our proprietary ML algorithms automate rate making while preserving control and transparency throughout the process. We replace the manual processes of legacy solutions and the need to build and maintain large codebases through custom R/Python developments, while maintaining an output that is understandable & auditable, unlike black-box ML.
Xceedance is a global provider of strategic consulting and managed services, technology, and data sciences to insurance organizations. The company helps insurers launch products, drive operations, implement intelligent technology, deploy advanced analytics, and achieve business process optimization. The experienced insurance professionals at Xceedance enable insurers worldwide to enhance policyholder service, enter new markets, boost workflow productivity, and improve profitability.
Astrid Noel (for Akur8)
+33 (0)7 68 24 93 27
Jennifer Overhulse, St. Nick Media (for Xceedance)
+1 859 803 6597
Source: Xceedance via GLOBE NEWSWIRE