AllClear Travel Insurance has partnered with Akur8 to boost its pricing capabilities by leveraging Akur8’s risk and demand modelling.
Specifically developed for insurers, Akur8’s solution enhances pricing processes by automating the rate making process, using Transparent Artificial Intelligence proprietary technology.
Core benefits for insurers and brokers, Akur8 said, include increased predictive performance and speed-to-accuracy for higher market reactivity and immediate business impact, while maintaining full transparency and control on the models created.
Founded in 2000, AllClear is an award-winning insurance specialist for customers with pre-existing medical conditions.
AllClear said this partnership allows it to progress with its partnership strategy and empowers its pricing team with best-in-class pricing technology.
Akur8 said its capabilities reduce insurers’ time spent modelling by 10x. The company already serves over 50 customers across more than 20 countries, including AXA, Generali and Munich Re; specialty insurers Canopius Vave and Tokio Marine Kiln; InsurTechs Wakam and wefox; and mutual insurer Matmut.
Additionally, 700 actuaries use Akur8 daily to build their pricing models across all lines of business.
Samuel Falmagne, CEO of Akur8, said, “We are delighted to empower AllClear’s insurance pricing experts with Akur8’s rate making platform! It is an honour to work with AllClear, as this company supports millions of people from around the world and is fully committed to helping its regional community.
Brune de Linares, chief client officer at Akur8, added, “We are proud to count AllClear among our customers in the UK! This new partnership with a travel insurance broker demonstrates that Akur8 is a powerful pricing solution for all types of insurance companies across all lines of business.
Europ Assistance Group recently partnered with Akur8 to strengthen its pricing process for its travel insurance and car assistance programs.
Akur has was also recently chosen by Mutua Madrileña, a Spanish insurer specialising in non-life insurance, for its pricing models.
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