AKUR8
About AKUR8
Provides a cloud-based actuarial pricing and reserving platform that uses Transparent AI and machine learning to automate data preparation, risk assessment, rate planning, and optimization. This system reduces modeling time by up to 90%, improves pricing accuracy, and replaces outdated spreadsheet-based processes, enabling insurers to enhance combined ratios and streamline operations.
```xml <problem> Insurers often rely on outdated, spreadsheet-based processes for actuarial pricing and reserving, which are time-consuming and prone to errors. Traditional methods lack the speed and accuracy needed to navigate dynamic markets and optimize combined ratios. </problem> <solution> Akur8 provides a cloud-based platform that leverages transparent AI and machine learning to automate and enhance insurance pricing and reserving processes. The platform streamlines data preparation, risk assessment, rate planning, and optimization, significantly reducing modeling time. By improving pricing accuracy and replacing outdated methods with advanced stochastic modeling, Akur8 enables insurers to enhance combined ratios, improve decision-making, and achieve greater efficiency. The platform offers distinct modules for pricing and reserving, catering to the specific needs of actuarial teams. </solution> <features> - Cloud-based platform accessible from anywhere - Transparent AI and machine learning algorithms for accurate predictions - Integrated modules for data preparation, risk assessment, demand modeling, rate plan construction, and optimization - Stochastic modeling and deterministic solutions for reserve analysis - User-friendly interface designed for actuaries and pricing experts - Collaborative features to enhance internal communication - API for seamless integration with existing systems </features> <target_audience> The primary target audience includes P&C personal and commercial lines insurers, MGAs, insurtech companies, and health insurers seeking to modernize their pricing and reserving processes. </target_audience> <revenue_model> Akur8 operates on a subscription-based model, offering access to its pricing and reserving platforms for a recurring fee. </revenue_model> ```
What does AKUR8 do?
Provides a cloud-based actuarial pricing and reserving platform that uses Transparent AI and machine learning to automate data preparation, risk assessment, rate planning, and optimization. This system reduces modeling time by up to 90%, improves pricing accuracy, and replaces outdated spreadsheet-based processes, enabling insurers to enhance combined ratios and streamline operations.
Where is AKUR8 located?
AKUR8 is based in Paris, France.
When was AKUR8 founded?
AKUR8 was founded in 2019.
How much funding has AKUR8 raised?
AKUR8 has raised 195270000.
- Location
- Paris, France
- Founded
- 2019
- Funding
- 195270000
- Employees
- 167 employees
- Major Investors
- One Peak