Milliman and Akur8 Form Strategic Alliance to Bring Next Generation Pricing Capabilities to P&C Insurers, MGAs, and Start-Ups
Akur8, the next generation insurance pricing solution, and Milliman, a premier global consulting and actuarial firm, are pleased to announce a strategic alliance to empower property & casualty (non-life) insurance carriers, start-ups, and MGAs with next generation pricing capabilities. Together, this collaboration leapfrogs conventional ratemaking solutions to offer increased speed, accuracy, and governance in insurance pricing.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211109005203/en/
Through its unique, cloud-based platform, Akur8 leverages an innovative combination of proprietary machine learning algorithms and Transparent AI™ to automate the insurance rate modelling process, while maintaining full transparency and interpretability of the models created. Akur8 offers end-to-end ratemaking capabilities to property and casualty (non-life) insurers, MGAs, and start-ups, while adhering to Actuarial Standards of Practice. This includes a feature that produces automated state filing documentation in all 50 U.S. states, easily enabling the model support to be filed with state regulators.
“Akur8 is a breakthrough innovation in the insurance pricing software landscape. They managed to automate the data-driven part of the pricing process while enabling actuaries and pricing teams to retain complete control over it,” says Sheri Scott, a principal and consulting actuary at Milliman.
With this alliance, Milliman’s actuarial and risk expertise is paired with Akur8’s revolutionary AI-driven pricing software to transform the ratemaking and pricing process for P&C insurers globally. By offering Akur8 in conjunction with Milliman’s expertise, national and multinational P&C carriers can expect a scalable solution that includes improved end-to-end pricing efficiency, expert pricing teams, faster time-to-market, greater modeling accuracy, improved internal governance and complete compliance.
“At Milliman, we understand the importance of bringing the best insurtech innovations to our clients in order to support them in their transformation journey,” says Richard Lord, Global Practice Director for property & casualty at Milliman. “This strategic alliance enables insurers, MGAs, and start-ups to benefit from world-class actuarial services and solutions along with cutting-edge operational technology.”
“Akur8 is delighted to team up with Milliman. The combination of Akur8’s state-of-the-art platform with Milliman’s leading actuarial expertise and data solutions creates a transformative insurtech solution that will leave conventional methods behind,” says Samuel Falmagne, CEO of Akur8.
Akur8 is the next generation insurance pricing solution. Akur8 is transforming insurance pricing with proprietary ML algorithms that automate rate making end-to-end, up until the generation of filing packages, while preserving control and transparency throughout the process and ensuring regulatory compliance. Akur8 is the only solution on the market reconciling Machine Learning and Actuarial worlds, empowering actuaries and pricing teams to make better decisions, faster.
Milliman is among the world’s largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Bentley Systems Announces Winners of the 2021 Going Digital Awards in Infrastructure2.12.2021 22:01:00 CET | Press release
Bentley Systems, Incorporated (Nasdaq:BSY), the infrastructure engineering software company, today announced the winners of the 2021 Going Digital Awards in Infrastructure. The annual awards program recognizes the extraordinary work of Bentley software users advancing infrastructure design, construction, and operations throughout the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202005219/en/ Bentley Systems Announces Winners of the 2021 Going Digital Awards in Infrastructure (Photo: Business Wire) Sixteen independent jury panels selected the 57 finalists from nearly 300 nominations submitted by more than 230 organizations from 45 countries encompassing 19 categories. To see the Going Digital Awards in Infrastructure finalists present their projects, click here. Bentley Systems showcased 19 Going Digital Awards in Infrastructure winners on December 2 during the 2021 Year in Infrastructure and Going Digital Awards
Vifor Pharma comments on market speculations2.12.2021 18:40:00 CET | Press release
Regulatory News: AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR Due to current market speculations, Vifor Pharma Group states the following: Vifor Pharma Group systematically reviews options that can strengthen its market position and/or accelerate the growth of the company both organically and through partnerships and acquisitions. Vifor Pharma is therefore regularly in discussions with other market participants and does not comment on them. About Vifor Pharma Group Vifor Pharma Group is a global pharmaceuticals company. It aims to become the global leader in iron deficiency, nephrology and cardio-renal therapies. The company is a partner of choice for pharmaceuticals and innovative patient-focused solutions. Vifor Pharma Group strives to help patients around the world with severe and chronic diseases lead better, healthier lives. The company develops, manufactures and markets pharmaceutical products for precision patient care. Vifor Pharma Group holds a leading position in all its core b
Covid - 19: Laboratoire Cerba Detects First Case of Omicron Variant in Mainland France2.12.2021 16:44:00 CET | Press release
Laboratoire Cerba, a global leader in specialized clinical pathology and member of the Cerba HealthCare Group, has detected a case of the Omicron variant from the sample of a patient arriving from Nigeria who was tested at Roissy Charles De Gaulle airport. The authorities - Santé Publique France [Public Health France], Agence Régionale de Santé Ile de France [Paris Regional Health Agency] and Direction Générale de Santé [General Directorate for Health]- were immediately informed. Laboratoire Cerba, chosen last October by the French Health Authorities to participate in the Emergen consortium, carries out between 1,000 and 1,500 sequencings per week with results returned in less than 5 days. Sylvie Cado, CEO of Laboratoire Cerba explains: "From the beginning of the epidemic, we have been working closely with the Authorities and the National Reference Centres to share the information and the strains of interest in order to support our Authorities in steering public policy: the systematic
i2c Partners with BEYON Money and Visa to Launch First Open Banking Super App in Bahrain2.12.2021 16:23:00 CET | Press release
i2c Inc., a leading provider of digital payment and banking technology, today announced its partnership with BEYON Money, the mobile super app launched by Batelco Financial Services, which is the fintech arm of Bahrain’s leading digital solutions and telecommunications provider. Backed by a recently-secured, first-of-its-kind open banking license from the Central Bank of Bahrain, the BEYON Money super app will host a digital wallet that enables retail, bill, and peer-to-peer payments for its users, connects to bank accounts through open banking, delivers financial insights and provides digital remittances. BEYON Money will develop card issuing and processing functionalities through i2c’s agile banking and payments platform which will also integrate additional partners and services. Through i2c’s Fintech Fast Track certification, BEYON Money will tap into Visa’s network infrastructure to launch a digital-first debit program to the market with a physical card option available upon reques
ENTERPRISE AND MEDIA ORGANIZATIONS DRIVE REVENUE, ENGAGEMENT, AND DEMAND WITH BRIGHTCOVE SOLUTIONS, INDEPENDENT STUDY REVEALS2.12.2021 15:00:00 CET | Press release
Brightcove Inc. (Nasdaq: BCOV), the global leader in video for business, released findings that enterprises and media organizations can generate 225% and 226% ROI respectively with Brightcove and see a full return on the initial investment in less than six months. The commissioned Total Economic Impact™ (TEI) studies conducted by Forrester Consulting examined cost savings and business benefits with Brightcove solutions for enterprise and media organizations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202005560/en/ Forrester Consulting interviewed decision-makers at multiple enterprise and media organizations with experience using Brightcove. Respondents came from organizations headquartered in the US and EMEA, all with multi-billion dollars of annual revenues. The enterprise interviewees represented industries including automotive manufacturing, technology manufacturing, and media services that primarily use video to
ElectReon Brings Wireless Inductive Electric Vehicle Charging Technology to Italy’s “Arena of the Future”2.12.2021 14:00:00 CET | Press release
ElectReon (TASE: ELWS.TA), the leading provider of inductive in-road charging technology for commercial and passenger electric vehicles, announced the launch of the “Arena of the Future'' project in Brescia, Italy where the company has integrated its wireless technology to charge an IVECO bus and Stellantis’s Fiat Nuova 500 passenger vehicle while driving. This project is demonstrating contactless charging for a range of EVs as they drive on highways and toll roads as a potential pathway to decarbonizing long-haul transportation systems along motorway transport corridors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202005493/en/ ElectReon announces the launch of "Arena of the Future" in Italy (Photo: Business Wire) The construction and technical implementation of the 1,050-metre-long circuit equipped with ElectReon’s properarity in-road charging coils and supported by 1MW of electrical power has been successfully compl
Orbital Insight Integrates with Esri's ArcGIS Platform to Streamline Satellite and Sensor Imagery Analysis2.12.2021 14:00:00 CET | Press release
Orbital Insight's fusion of multisensor geospatial data and state-of-the-art algorithms has been helping customers address critical concerns for years—from determining the flow of container ship traffic amid unprecedented supply chain delays to visualizing dynamic intelligence and defense-related threats and anomalies across the globe. With the adoption of Esri's ArcGIS Platform, Orbital Insight is making it easier for its users to integrate with ArcGIS and analyze their data. Customers of Esri, the world leader in location intelligence, who also use Orbital Insight GO can now seamlessly work between both systems, making it easier to meet spatial challenges with Esri basemap visualizations directly within the Orbital Insight GO platform and export their analysis to ArcGIS. The integration with Esri's ArcGIS Platform provides an integral reference point for analysts as well as a more cohesive and natural user experience. More collaboration is planned, including eventually incorporating
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom