Portage Mutual, one of Canada’s leading property and casualty mutual insurers serving the Prairie Provinces, has chosen actuarial AI specialist Akur8 to modernise its pricing operations across its personal lines portfolio.
The partnership will see Akur8’s pricing platform deployed initially across Portage Mutual’s home and auto lines of business, with scope to expand into further lines as the relationship develops. The technology is expected to bring greater speed, accuracy, and transparency to the insurer’s actuarial workflows, with complex pricing models that previously required days to complete now achievable within hours.
Portage Mutual, established in 1884 and headquartered in Portage la Prairie, Manitoba, operates across eight Canadian provinces through a network of more than 600 professional insurance brokerages.
Akur8’s platform was built specifically for the insurance sector and uses proprietary machine-learning technology to support faster model development, deliver explainable outputs, and facilitate data-driven pricing decisions that can be shared across stakeholder teams.
The platform serves more than 350 customers across 40-plus countries, with over 3,000 actuaries using it daily for pricing and reserving work across both property and casualty and life and annuity markets. Its client base includes global carriers such as AXA, Generali, Munich Re, Europ Assistance, Tokio Marine, and MS&AD.
Portage Mutual director of actuarial pricing Ryan Cheung said, “From the very first weeks of our pilot, Akur8 proved to be a genuine game-changer for our actuarial teams. Sophisticated models that previously took days to build can now be completed in hours, particularly for geospatial analysis. We also gained strong confidence in Akur8’s rating capabilities across both our Home and Auto portfolios. We are excited about what this partnership will deliver for our pricing operations and, ultimately, for the policyholders we serve across Canada.”
Akur8 CEO Samuel Falmagne said, “We are proud to welcome Portage Mutual as a partner. Their commitment to delivering accurate, responsive, and community-centered insurance solutions resonates deeply with Akur8’s mission. By leveraging our pricing platform, Portage Mutual will gain the speed and sophistication needed to stay ahead on the Canadian market.”
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