Insurer and reinsurer Canopius has inked a deal with InsurTech100 startup Akur8, marking the venture’s first UK partnership with a London-based insurer
“Akur8 is a cutting-edge technology that supports the data-led underwriting approach of our digital products,” said Marek Shafer, chief digital officer at Canopius, when speaking with Reinsurance News. “We saw compelling results during the pilot phase, with impressive predictive power and rapid modelling time. This partnership will help us better match our clients’ needs and adapt prices to a dynamic marketplace.”
Samuel Falmagne, co-founder and CEO at Akur8, added, “We are extremely happy to announce this partnership with Canopius. It will act as a differentiator, in markets with high competitive pressure like the US. Being a leading global insurance carrier, Canopius is setting the example as an innovative insurance company striving to ever better cater to their customers’ needs.”
Falmagne and Guillaume Béraud Sudreau founded the company in 2018. Since then, they’ve developed a platform powered by algorithms able of automating the full insurance pricing process, whilst keeping full transparency.
The software is designed to give actuaries full control over the models to better understand them and apply their business knowledge.
In March 2020, Akur8 closed a €8m Series A round to fund the future development of its platform and of the company.
Akur8 was named as one of the world’s most innovative InsurTech companies in November when it secured a spot on the coveted InsurTech100 list.
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