Akur8, the next-generation insurance pricing solution, has partnered with Tokio Marine HCC to elevate pricing strategies and drive innovation in the insurance sector.
As part of the move, the French firm’s Core Platform solution will enable Tokio Marine HCC to develop high-performing pricing models, generate insightful analytics, and foster knowledge sharing across its entities.
As one of the world’s leading specialty insurers, Tokio Marine HCC underwrites a wide range of specialty insurance classes in over 180 countries, making this partnership a significant milestone for Akur8’s expansion in the US specialty insurance market.
By leveraging proprietary machine-learning technology, Akur8’s solution enhances pricing processes by expediting model building, offering transparent GLM outputs, and enabling data-driven underwriting.
Samuel Falmagne, CEO at Akur8, emphasised the importance of collaboration, stating, “Collaborating with Tokio Marine HCC exemplifies the power of our pricing platform to support insurance specialty groups with deep technical and analytical business expertise. We are proud to work with a company that focuses on providing tailored underwriting and the highest quality risk management.”
Brune de Linares, Chief Client Officer at Akur8, added, “Our partnership with Tokio Marine HCC illustrates that Akur8 is the premier pricing solution for all sizes of insurance companies across all lines of business.”
For half a century, Tokio Marine HCC has dedicated itself to strengthening and perfecting its standing within the specialty insurance sector.
Backed by a diverse team equipped with extensive technical expertise and a steadfast commitment to customer satisfaction, the firm consistently provides unparalleled products and services. Its unwavering mission to contribute positively to society remains at the forefront, driving its ongoing efforts to excel in the industry.
Mario DiCaro, VP, Capital Modelling & Analytics at Tokio Marine HCC, spoke enthusiastically on Akur8’s innovative offering, stating, “Akur8’s solution empowers our pricing team to build a more streamlined process with strong model governance and intuitive visualisations. Through the utilisation of these advanced features, we are able to put into production some of our more mature model implementations, resulting in increased efficiency. We are leveraging Akur8’s software to modernise our pricing procedures, simplify rate plan changes, and gain better insights.’
Copyright © 2024 InsurTech Analyst
