Reinsurance News

Spain’s Mutua Madrileña opts for pricing solution from Akur8

22nd June 2022 - Author: Matt Sheehan

Mutua Madrileña, one of Spain’s largest insurers, has chosen Akur8 as its new pricing solution for non-life insurance lines in the country, including motor, home and multi-risk business.

Akur8, an AI-driven pricing insurance company, says the partnership will also allow it to strengthen its presence in Spain.

The firm’s pricing automates rate making through its algorithms to improve, speed, accuracy and market reactivity for immediate commercial impact, while also helping pricing teams to maintain transparency and control over pricing models.

Mutua Madrileña has chosen to implement Akur8’s RISK, DEMAND and RATE modules.

“We are really looking forward to starting this new collaboration with Mutua Madrileña, a key player in the Spanish insurance market,” said Samuel Falmagne, CEO at Akur8.

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“We are very proud to provide them with a best-in-class solution taking their pricing capabilities to new heights and bolster innovation at the core of the pricing process.”

Brune de Linares, Chief Customer Officer at Akur8, also commented: “Reinforcing our footprint in Spain is a great milestone for Akur8’s global expansion. It strengthens our position as the up-and-coming pricing solution on the Spanish market and our relevance among large mutual insurers.”

Federico Vicioso, CTO of Mutua Madrileña, added: “For Mutua Madrileña, working with Akur8’s pricing solution will help us to further improve our time to market and continue to offer the best customer experience to our policyholders.”

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