Tokio Marine HCC has selected Akur8’s Core Platform Solution to fuel innovation and to build high-performing pricing models, produce analytics and report with ease for powerful insights, and facilitate knowledge sharing across entities.
Akur8 built its platform explicitly for insurers and designed it to enhance pricing processes by using proprietary machine-learning technology.
According to the firm, the core benefits for the P&C insurance marketplace include accelerated model building, transparent GLM outputs, and data-driven underwriting.
Tokio Marine HCC is one of the world’s leading specialty insurers, underwriting more than 100 classes of specialty insurance in over 180 countries.
Through this agreement, Akur8 continues to expand its presence in the US specialty insurance market, the firm highlighted.
Commenting on the collaboration Samuel Falmagne, CEO at Akur8, said: “Collaborating with Tokio Marine HCC exemplifies the power of our pricing platform to support insurance specialty groups with deep technical and analytical business expertise.
“We are proud to work with a company that focuses on providing tailored underwriting and the highest quality risk management.”
Mario DiCaro VP, Capital Modeling & Analytics at Tokio Marine HCC, stated: “Akur8’s solution empowers our pricing team to build a more streamlined process with strong model governance and intuitive visualisations.
“Through the utilisation of these advanced features, we are able to put into production some of our more mature model implementations, resulting in increased efficiency. We are leveraging Akur8’s software to modernise our pricing procedures, simplify rate plan changes, and gain better insights.”
