Akur8, a cutting-edge provider of insurance pricing and reserving solutions powered by transparent machine learning, has partnered with the American Association of Insurance Services (AAIS), a leading not-for-profit advisory organisation supporting the Property & Casualty (P&C) insurance industry.
The partnership focuses on leveraging Akur8’s Core Platform Solution to elevate AAIS’s predictive modelling processes.
Akur8’s innovative platform combines advanced machine learning with actuarial excellence, providing insurers with accelerated model building, transparent Generalised Linear Modelling (GLM) outputs, and data-driven underwriting. This technology is designed specifically for the P&C insurance sector and is already used by over 3,000 actuaries worldwide across more than 40 countries.
AAIS, established in 1936, supports the P&C insurance industry as the only national not-for-profit advisory organisation governed by its Member carriers. The association offers policy forms, rating guidelines, and data management solutions across a range of insurance lines, including commercial, auto, and farm insurance.
Michael Payne, FCAS, MAAA, chief pricing actuary of AAIS, highlighted the value of this collaboration, saying, “Our Actuarial Services team is excited to leverage the capabilities of Akur8’s Core Platform Solution as part of our predictive modeling strategy. Building a repeatable, end-to-end process that includes enhanced visualizations and built-in reports is going to be critical for us to successfully broaden our use of predictive models. We are confident that Akur8 will be able to meet and exceed these expectations for AAIS.”
Sam Falmagne, CEO of Akur8, expressed enthusiasm for the partnership, stating, “AAIS’s adoption of Akur8’s Core Solution underscores their commitment to providing best-in-class solutions for their Members. We are thrilled to partner with such a prominent organization in the P&C insurance industry, further establishing Akur8 as the leading choice for innovative pricing and modeling techniques.”
Brune de Linares, chief client officer of Akur8, added, “Our collaboration with AAIS highlights the powerful role Akur8’s solution plays in advancing the pricing process for insurance carriers. We look forward to working together to drive continued innovation and progress within the insurance industry.”
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