Akur8, the next-generation insurance pricing solution powered by Transparent AI, has been selected by Swedbank to enhance its insurance pricing process.
The collaboration aims to revolutionise insurance pricing processes, leveraging Akur8’s cutting-edge AI technology to enhance Swedbank’s accuracy, transparency, and efficiency, and deliver a bolstered customer experience.
Designed specifically for insurance firms, Akur8’s solution enables pricing teams to enhance decision-making efficiency by automating risk modelling through its unique transparent machine learning technology.
This innovation offers insurers amplified predictive accuracy and faster speed-to-insight, facilitating swift market responsiveness and immediate business advantages, all while ensuring complete transparency and control over the generated models.
Juris Kipluks, Head of Underwriting at Swedbank, spoke enthusiastically on Akur8’s latest offering. He said, “During the onboarding, we were impressed with the range of functionalities in the Akur8 suite. The platform is a perfect fit with our development plan, and will enable us to improve efficiency in our modelling process. We were especially impressed with Akur8’s lightning-fast user support, which allows us to tap into technical expertise beyond just the platform, focus on the business side and accept new projects – all of which further strengthen our market positioning and serve our clients better.
The partnership is particularly significant amidst the ongoing transformation in the insurance space. Pioneering solutions, such as Akur8’s pricing platform, are revolutionising the sector, as modern tools allow incumbents to boost their overall efficiency.
Joanna Chardon, Chief Strategy and Product Officer at Akur8, noted, “We’re delighted to welcome a new client in the Baltics and to work alongside a carrier who shares our commitment to customer support. This synergy is all the more gratifying as we continue to invest significantly in the development of new functionalities and the user-friendliness and live support from our teams around the world. With this alignment, our support team can focus on addressing high-value inquiries.”
Julian Frank, Client Director at Akur8, added, “We are glad to cooperate with Swedbank to continue working at the forefront of pricing sophistication, and we are proud to further strengthen our presence in the Baltics. We have worked very closely with Swedbank to ensure we understand their requirements, both from a technical as well as from a business viewpoint – and we are looking forward to a continued and fruitful collaboration with Swedbank.”
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