Akur8, a leading InsurTech specialising in insurance pricing and reserving solutions, has partnered with Indiana Farm Bureau Insurance, a major property and casualty insurer in Indiana.
The collaboration aims to enhance Indiana Farm Bureau Insurance’s pricing processes by leveraging Akur8’s Core Platform. The solution will enable faster model development and the creation of explainable, transparent pricing models to improve underwriting accuracy and operational efficiency.
Akur8’s proprietary machine learning-based technology is designed specifically for insurers. It offers accelerated model building, transparent generalised linear model (GLM) outputs, and advanced data-driven insights. This empowers insurers to make more informed pricing decisions and improve the accuracy of their underwriting efforts.
Indiana Farm Bureau Insurance provides a broad range of P&C insurance products across Indiana. With this partnership, the company will gain access to advanced capabilities such as state-specific pricing insights, rapid simulation of rate changes at coverage levels, and efficient identification of underperforming segments.
This partnership also underscores Akur8’s growing presence in the North American insurance market, building on its global portfolio of over 300 customers across 40+ countries. The company currently supports global carriers such as AXA, Generali and Munich Re, alongside regional insurers like Georgia Farm Bureau and Madison Mutual.
The agreement will also provide Indiana Farm Bureau Insurance with enhanced stakeholder communication, supported by Akur8’s intuitive platform outputs and ongoing client support.
Akur8 CEO Samuel Falmagne said, “We’re excited to engage with Indiana Farm Bureau Insurance. Akur8’s AI-powered solution will streamline their pricing process, enabling their team to identify opportunities and forecast impacts with precision, while maintaining the exceptional service and support that Indiana Farm Bureau Insurance is known for. We look forward to a successful, long-term collaboration.”
Akur8 chief client officer Brune de Linares said, “Our engagement with Indiana Farm Bureau Insurance highlights Akur8’s role as a trusted solution for insurers across all sectors. This recent collaboration underscores the value we bring, and we’re excited to work together.”
Indiana Farm Bureau Insurance executive director and chief actuary Brian Poole said, “We’re thrilled to work with Akur8 to elevate our pricing process. With rapid model development, state-specific insights, and the ability to simulate rate changes at the coverage level, we can quickly pinpoint underperforming segments and assess their financial impact. Akur8’s transparent, intuitive outputs make it easy to share insights with stakeholders, and their ongoing support has been invaluable. We look forward to working with the Akur8 team.”
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