Akur8 and Guidewire, two trailblazers in the FinTech industry, are taking their partnership to new heights. Akur8, renowned for its next-generation insurance pricing solutions, has announced an impressive expansion of its collaboration with Guidewire, a key player in the industry. This expansion is bolstered by Guidewire’s recent investment in Akur8.
The motivation behind this partnership deepens their mutual ambition to transform the insurance and InsurTech sectors. Together, they aim to augment their influence, reach, and service delivery in these dynamic spaces.
Delving deeper into their individual specialities, Akur8’s platform, hosted on the cloud, amplifies the pricing strategies for actuaries and predictive modellers. This is achieved through Akur8’s distinct Machine Learning (ML) technology. Furthermore, their offering to the P&C insurance market consists of improved predictive performance, swifter accuracy, and a remarkable business impact, all while upholding utmost transparency and control of their model creations.
On the other side, Guidewire boasts an industry-leading P&C platform that provides end-to-end support throughout the insurance lifecycle. Their new cloud-based rating app, when coupled with Akur8’s models, showcases a synergy that optimises the rating and pricing lifecycle. This amalgamation swiftly outpaces traditional methods, offering an avant-garde approach to insurance pricing.
A noteworthy mention in their partnership is the upcoming workshop at the ITC Vegas 2023 conference. Titled “Unlocking the Potential of Pricing Analytics and Underwriting Innovation”, this session is spearheaded by leaders from both Akur8 and Guidewire. With influential figures from the P&C insurance industry in attendance, this workshop promises to shed light on the future trajectory of insurance pricing and underwriting.
Akur8 CEO Samuel Falmagne said, “We are extremely excited to expand our partnership with Guidewire, and believe the key to Akur8’s ongoing success as a company and a competitor is to continue expanding our reach in both the insurance and insurtech spaces.”
Moreover, Roger Arnemann, General Manager & Senior Vice President, Analytics, Guidewire, commented, “When used together, Guidewire’s new cloud-based rating app and Akur8 models offer optimized support for the rating and pricing lifecycle.”
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