HDI Seguros Colombia, a trailblazer in the insurance sector in Colombia, known for quality service and innovative technological products, and Akur8, a machine learning-powered insurance pricing solution, have announced a partnership to enhance HDI’s pricing process in the Colombian market.
This follows the successful deployment of Akur8’s solution in Chile in 2022.
The primary objective of this partnership is to streamline HDI Seguros Colombia’s pricing process. By harnessing Akur8’s proprietary machine learning technology, the collaboration is expected to produce faster, more efficient and transparent rate-making. It also aims to build new models and set new pricing structures, improving team productivity overall.
HDI Seguros is an integral part of the global multi-brand Talanx Group, active in financial and insurance services in over 150 countries. As a leading company in the insurance business in Colombia, HDI Seguros is recognised for its quality of service and for developing innovative products that leverage new technologies.
Akur8 has developed a unique solution specifically designed to enhance the pricing processes of insurers. Using proprietary machine-learning technology, the solution brings about accelerated model building, transparent GLM outputs, and data-driven pricing decisions.
This collaboration also strengthens the existing relationship between HDI Seguros and Akur8 while expanding Akur8’s presence in Latin America. HDI Seguros will employ Akur8’s RISK and RATE modules for its P&C personal and commercial lines. This will enable HDI Seguros to improve its modelling accuracy, thereby augmenting its market responsiveness and setting a new standard in insurance pricing.
Diego Romero Medina, COO at HDI Seguros Colombia said, “This new alliance with Akur8 is completely in line with our technological and digital DNA. It empowers us to conduct faster, better and transparent rate making, and build new models and ultimately new prices in record time, while improving the overall productivity of our team.”
Samuel Falmagne, CEO at Akur8, also commented on the partnership saying, “We are thrilled to announce our collaboration with HDI Seguros in Colombia and we are excited to onboard another entity in Latin America. On behalf of Akur8, we are proud to be the pricing platform chosen two years in a row by HDI and to further improve their insurance pricing capabilities in Colombia.”
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