Akur8, the AI Pricing solution, enables insurance carriers to improve their profits and win market share with pricing models created and updated in hours instead of months. Akur8 developed unique leading edge algorithms dedicated to insurance pricing. The disruptive technology developed by our R&D team allows to combine Machine Learning and Actuarial worlds.
GLM (Generalized Linear Model) is a well-established technique that answers all Risk Modelling constraints: it is easy to understand and it enables a clear validation process. But it is manual. Iterations and discoveries are long and slow, involving large number actuarial resources.
Using cutting edge machine learning, we have automated GLM modelling. From variable selection to geographic smoothing, you decide the tradeoff between clarity and performance. You can immediately spot anomalies and discover new patterns. Building models with Akur8 is 10 times faster than with traditional solutions – with a better result.
Akur8 solution is built for actuaries. Delivered in SaaS, the solution can be implemented in a few weeks. With direct impact on loss ratio.