Akur8, a Paris-based InsurTech, has partnered with Post Telecommunication Joint Stock Insurance Corporation (PTI), one of Vietnam’s leading non-life insurance providers, to enhance its actuarial capabilities.
The partnership will see PTI implement Akur8’s pricing platform to improve both fairness and competitiveness in its insurance pricing.
With Vietnam’s insurance landscape undergoing rapid digital transformation and regulatory evolution, this move positions PTI to respond more swiftly and strategically to market demands.
Akur8’s platform, designed specifically for insurers, leverages proprietary machine-learning technology to accelerate model development, improve output transparency, and support data-driven pricing decisions. These features have made it particularly well-suited for the property and casualty (P&C) insurance market.
PTI, a key player in Vietnam’s insurance sector, will use Akur8’s platform to gain deeper insights into its insurance portfolios and drive greater agility in pricing strategy. Notably, the adoption aims to improve collaboration between PTI’s actuarial teams and its business stakeholders, enhancing shared understanding around risk and pricing decisions.
Prior to the formal partnership, PTI conducted a pilot phase with Akur8, building hundreds of models in just one month. This trial not only highlighted the platform’s capacity for speed and precision but also its flexibility in adapting models and making transparent, informed decisions.
Additional value came from Akur8’s customer support and collaborative approach. According to PTI, the user-friendliness of the solution, combined with the dedication of Akur8’s team, played a pivotal role in solidifying the partnership.
“There is no need to comment on the functionality of Akur8, as it has already proven itself to be a streamlined, user-friendly and efficient program for modern actuaries, trusted by companies worldwide. What we appreciate most, however, is the team behind the platform. They are always available to assist with any questions or issues, and they consistently put in their best effort to improve the user experience. These are qualities you won’t always find in other solutions on the market,” PTI actuary manager Tien Pham Hong said.
“We are honoured to collaborate with PTI, a leading player in Vietnam’s non-life insurance sector. By equipping PTI’s actuarial team with our advanced pricing platform, we are supporting their journey towards more data-driven, agile, and future-ready pricing processes in an increasingly competitive market,” Akur8 CEO Samuel Falmagne said.
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