Akur8, a next-generation insurance pricing and reserving solution, has been selected by leading Spanish insurer Seguros Lagun Aro to streamline its insurance pricing process.
Leveraging Akur8’s state-of-the-art technology, the collaboration is set to focus on boosting the Bilbao-based firm’s property and casualty (P&C) offerings.
With Akur8’s solution, Seguros Lagun Aro will benefit from faster, more precise pricing models, offering improved market reactivity and transparency in the insurance sector.
Cristina Galindo Astobieta, non-life statistical control technician at Seguros Lagun Aro spoke enthusiastically on the transformative potential of the move, “We are implementing Akur8’s pricing solution to enhance our ability to build models with speed and precision. We hope that the automated features and advanced analytics will streamline our processes, allowing us to develop and refine pricing models that respond effectively to market dynamics. This partnership with Akur8 is pivotal in enabling us to elevate our pricing strategy and maintain a competitive edge.”
Brune de Linares, Chief Client Officer at Akur8, added, “We are excited to welcome Seguros Lagun Aro to our growing client base in Spain, a leading market in pricing sophistication. With Akur8’s intuitive, cloud-based platform, Seguros Lagun Aro will streamline their pricing process, saving time and boosting transparency.”
During the initial pilot phase, Seguros Lagun Aro appreciated the ease of use, speed, and transparency of Akur8’s platform, as well as the solution’s live business support.
Akur8 is a technology-driven company specialising in automated insurance pricing models, using its proprietary Transparent AI to deliver faster, more accurate, and fully transparent risk modelling.
The company’s platform allows insurers to streamline their pricing processes while maintaining control and oversight of model development.
Seguros Lagun Aro, headquartered in Bilbao, is a well-established Spanish insurer known for its customer-centred solutions and commitment to social responsibility.
The company offers a broad range of P&C personal and commercial insurance products, catering to diverse client needs across Spain.
The partnership also underscores the growing role of AI in the insurance industry. Akur8’s CEO, Samuel Falmagne commented, “We are thrilled to partner with Seguros Lagun Aro, a company that shares our commitment to innovation and excellence in insurance. This collaboration underscores the transformative potential of AI in the insurance industry.”
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