Akur8, a next generation insurance pricing solution, has been selected by household protection insurance provider SANTALUCÍA’ to improve its pricing process.
Developed for insurers, Akur8’s solution is designed to enhance the pricing process by automating risk modelling using proprietary transparent machine learning technology.
Core benefits for insurers, according to Akur8, include increased efficiency and speed-to-insights for faster data discovery and evaluation and advanced predicting modelling capabilities with even small, noisy datasets paving the way towards data-driven underwriting.
SANTALUCÍA, a comprehensive insurance company with 100 years of history, is the parent company of GRUPO SANTALUCÍA, a provider of protection, savings and family assistance services, with a significant presence in different channels and geographies.
According to Akur8, this new alliance will allow SANTALUCÍA’s pricing team to make better and more agile decisions by automating risk modelling through a proprietary and transparent artificial intelligence technology.
In addition, Akur8 said the partnership will significantly accelerate their time-to-market, reduce modeling time and offer their customers more adjusted prices with a higher degree of personalisation.
Dominique Uzel, business director at SANTALUCÍA, said, “At SANTALUCÍA, we are always looking for new opportunities to offer our current and future policyholders the best products and services. Akur8 is fundamental to this goal as it is innovative, easy to use and built with fairness and transparency at its core. It will increase the efficiency of our pricing process to the benefit of our pricing teams and policyholders.”
Samuel Falmagne, CEO at Akur8, added, “We are delighted to start this new collaboration with SANTALUCÍA! We are proud to provide them with a state-of-the-art solution to take their pricing capabilities to new heights and bolster innovation at the core of the pricing process.”
Last year, Akur8 was selected by High Definition Vehicle Insurance (HDVI), to support the development of telematics-based insurance models.
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