Freeyou Insurance, a digital insurer from Germany, is joining forces with Akur8, an innovator in insurance pricing solutions.
Freeyou Insurance, established in 2018, has carved a niche in auto and personal possessions insurance, prioritizing simplicity, digital innovation, and intelligent services. On the other hand, Akur8 emerges as a revolutionary force with its cloud-based, fully integrated insurance pricing platform, enhancing insurers’ pricing processes with machine learning capabilities and a user-friendly experience.
According to FinTech Finance, this partnership, rooted in a shared vision to revolutionize the insurance industry, sees Freeyou Insurance AG incorporating Akur8’s comprehensive platform, including RISK, DEMAND, and RATE modules, into their pricing workflow.
The collaboration aims to fortify Freeyou’s competitiveness in the market, offering superior value to its policyholders with optimal pricing strategies.
Freeyou Insurance, since its inception, has focused on transforming insurance into a user-friendly, straightforward experience, liberating customers from complex paperwork and jargon. Meanwhile, Akur8’s unique platform offers a seamless pricing process for insurers, featuring accelerated model building, transparent Generalized Linear Model (GLM) outputs, and data-driven underwriting.
Their partnership is a natural alignment of values and strategies, combining Freeyou’s customer-centric approach with Akur8’s technical prowess. This collaboration is expected to accelerate Freeyou’s actuarial processes, strengthening its position as an innovator in the insurance sector.
Both companies are committed to a data-driven approach, valuing transparency and ease of use, which are key elements in their joint endeavors. The partnership also marks Akur8’s expansion in Germany, further cementing its presence in the European personal lines market.
Freeyou Insurance Chief Insurance Officer, René Jansen, expressed enthusiasm about the partnership, saying, “We are excited about the possibilities that Akur8’s pricing platform brings to our actuarial processes. This partnership aligns with our commitment to innovation and reinforces our position as a forward-thinking insurance provider.”
Thomas Zehe, Chief of Staff and Actuarial Department at Freeyou Insurance, highlighted the platform’s efficiency, stating, “The insights generated based on our own data during the pilot project have convinced us of the high quality of the platform, and all that with a very low time investment.”
Samuel Falmagne, CEO at Akur8, shared his excitement about the collaboration, noting, “We are honored to collaborate with Freeyou Insurance, a company known for its customer-centric approach and its transparent products. Our comprehensive platform is designed to empower insurers like Freeyou Insurance to navigate the complexities of the insurance landscape with precision and agility.”
Julian Frank, Client Director DACH & CEE at Akur8, complimented Freeyou’s technical team, stating, “Throughout the pilot that we have run together we were extremely impressed by the technical capabilities of the Freeyou Insurance pricing team. The Freeyou Insurance team has consistently demonstrated their ability to collaborate in an agile and pragmatic manner, which gives us great confidence that this will be an outstanding partnership in the German market.”
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