Akur8 to bolster ERGO’s travel insurance pricing

AI-powered insurance pricing software developer Akur8 has teamed up with Munich-based ERGO travel insurance, to enhance its pricing approach.

ERGO Travel Insurance is a subsidiary of ERGO Group AG that is owned by reinsurer and risk carrier Munich Re. The companies provide travel insurance solutions for private and business travellers around the world.

This deal, according to Akur8, further enhances its expansion to multiple insurance product lines as the next generation pricing platform.

AKUR8 strives to empower actuaries and pricing teams to make better decisions, faster, through a unique cloud-based platform. Akur8 leverages proprietary transparent machine learning algorithms to automate the generation of pricing models, while maintaining full transparency and interpretability of the models created

Earlier this month, Akur8 teamed up with AXA Luxembourg to boost AXA’s pricing capabilities. With the Akur8 platform, AXA Luxembourg said it will empower its pricing team to achieve improved performances and faster modelling-speed on the data-driven part of the rate-making process, enabling them to mobilise more of their actuarial expertise at the service of business impact.

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