InsurTech Akur8 has inked a deal to help AXA Spain enhance the insurer’s pricing process.
This deal marks Akur8’s first partnership in Spain as the venture continues its expansion in Europe. It is present in six countries to date.
Akur8 has developed a solution to enhance insurers’ pricing processes by automating risk and demand modelling, using transparent artificial intelligence proprietary technology.
?Akur8 is thrilled to announce this partnership with AXA Spain, to provide them with a state-of-the-art solution to bring pricing sophistication to an entirely new level and bolster innovation in a process as strategic as pricing,” said Samuel Falmagne, CEO at Akur8. “AXA Spain is making a forerunner move in the Spanish market to bring more transparent and tailored prices to their customers.”
Brune de Linares, chief of sales at Akur8, added, “Forging a partnership in Spain is a great milestone for Akur8 expansion, reinforcing our footprint in Europe. AXA Spain will empower their team of 36 pricing actuaries to leverage Akur8 across all lines: personal, commercial and health, on both direct and intermediated business.”
Nuria Fern?ndez, Retail Customer Offer Direc-tor and Actuarial Director at AXA Spain, added, “Our partnership with Akur8 reinforces our commitment towards customer-centricity, allowing us to bring as much personalisation as possible to our policyholders, a founding pillar of our strategy in Spain. It also illustrates our push for differentiation through innovation and digital transformation, especially in com-plex times.
Enrique Rodr?guez, head of personal actuarial department at AXA Spain, commented, “Akur8 allows for a reduction in modelling time, enabling us to build new prices much faster and significantly decreasing our time-to-market, while increasing the productivity of our team.p>
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