Guidewire and Akur8 have introduced a groundbreaking accelerator designed to streamline pricing processes within the insurance industry.
The newly introduced accelerator by Akur8 is tailored explicitly for the Property & Casualty (P&C) insurance sector, and harnesses the potential of machine learning and predictive analytics. It aspires to empower insurers with faster and more informed decision-making capabilities, fundamentally transforming pricing strategies.
Integrated seamlessly with Guidewire, Akur8’s accelerator streamlines the export of risk models built within its framework into PolicyCenter’s Rating Engine. This integration eradicates the traditional bottleneck in rate deployment, enabling a more agile and efficient process.
Moreover, it promises an enhancement in accuracy, security, and operational efficiency throughout the pricing lifecycle. This unique offering will be available to PolicyCenter users in the Guidewire Marketplace.
Samuel Falmagne, CEO of Akur8, said, “Pricing risk correctly is a critical discipline for insurance companies. The combination of our innovative, automated solution and Guidewire’s industry-leading P&C platform creates a leading-edge insurance pricing solution that quickly leaves behind older, conventional methods.”
Will Murphy, Vice President, Global Technology Alliances, Guidewire, said, “Congratulations to Akur8 on the release of its new PolicyCenter app. Traditional rate deployment can be a very tedious task, burdened with manual labor that slows the entire pricing process. With Akur8 integrated with Guidewire, this labor is eliminated, increasing efficiency, agility, and speed-to-market for insurers.”
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