For many insurers, pricing remains a complex and time-consuming function. Teams rely on fragmented systems, manual processes, and traditional modelling techniques that slow decisions and limit accuracy. Misaligned data and disconnected workflows can hinder both operational efficiency and strategic insight.
Idaho Farm Bureau Insurance found a solution in Akur8. By adopting the advanced pricing platform, the insurer has transformed its actuarial processes, improving precision, accelerating deployment, and strengthening collaboration across the business. Under the leadership of Jay Call, Director of Actuarial, the company has leveraged Akur8 to create a more automated, analytics-driven pricing ecosystem.
Early gains in rate modelling sophistication
The most tangible improvements at Idaho Farm Bureau have come in rate modelling. With Akur8, the team moved beyond traditional generalised linear models (GLMs) and incorporated advanced techniques such as penalisation and actuarial concepts like credibility. This shift has produced more stable, reliable predictions that reflect meaningful long-term trends rather than short-term fluctuations.
“Modeling is the area where we’ve made the greatest strides forward over the last ten years,” Jay Call, Director of Actuarial, Idaho Farm Bureau, said.
Akur8’s platform centralises models and data, enabling the team to streamline iterations, improve diagnostics, and compare modelling approaches more confidently.
Spatial analysis tools now allow territory factors to be evaluated alongside core models, reducing repetitive work and supporting faster, more accurate pricing decisions. The result is a scalable, robust framework that enhances both efficiency and actuarial insight.
Building a connected, collaborative pricing workflow
Beyond model accuracy, Akur8 has helped Idaho Farm Bureau bring actuarial modelling and business decision-making closer together. Jay Call envisions a fully integrated workflow where actuaries and business leaders can collaborate in real time, adjust assumptions on the fly, and instantly see the impact of changes on premiums, segments, and profitability.
The platform dynamically displays modelled outcomes, current relativities, and proposed adjustments, while dashboards provide immediate impact analyses. Decisions can be aligned, models finalised, and regulatory filings prepared — all within a single, cohesive environment.
Jay emphasises the importance of addressing potential misalignments early. Differences between business-defined rating manuals and policy administration systems can create costly delays, but by resolving these issues upfront, insurers can unlock a smoother, more effective transformation.
By enabling precision, speed, and collaboration, Akur8 has positioned Idaho Farm Bureau to turn data into actionable insight, making pricing not just more accurate, but also more strategic and commercially impactful.
Read the full blog from Akur8 here.
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