Milliman and Akur8 Form Strategic Alliance to Bring Next Generation Pricing Capabilities to P&C Insurers, MGAs, and Start-Ups
9.11.2021 16:00:00 EET | Business Wire | Press release
Akur8, the next generation insurance pricing solution, and Milliman, a premier global consulting and actuarial firm, are pleased to announce a strategic alliance to empower property & casualty (non-life) insurance carriers, start-ups, and MGAs with next generation pricing capabilities. Together, this collaboration leapfrogs conventional ratemaking solutions to offer increased speed, accuracy, and governance in insurance pricing.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211109005203/en/
Through its unique, cloud-based platform, Akur8 leverages an innovative combination of proprietary machine learning algorithms and Transparent AI™ to automate the insurance rate modelling process, while maintaining full transparency and interpretability of the models created. Akur8 offers end-to-end ratemaking capabilities to property and casualty (non-life) insurers, MGAs, and start-ups, while adhering to Actuarial Standards of Practice. This includes a feature that produces automated state filing documentation in all 50 U.S. states, easily enabling the model support to be filed with state regulators.
“Akur8 is a breakthrough innovation in the insurance pricing software landscape. They managed to automate the data-driven part of the pricing process while enabling actuaries and pricing teams to retain complete control over it,” says Sheri Scott, a principal and consulting actuary at Milliman.
With this alliance, Milliman’s actuarial and risk expertise is paired with Akur8’s revolutionary AI-driven pricing software to transform the ratemaking and pricing process for P&C insurers globally. By offering Akur8 in conjunction with Milliman’s expertise, national and multinational P&C carriers can expect a scalable solution that includes improved end-to-end pricing efficiency, expert pricing teams, faster time-to-market, greater modeling accuracy, improved internal governance and complete compliance.
“At Milliman, we understand the importance of bringing the best insurtech innovations to our clients in order to support them in their transformation journey,” says Richard Lord, Global Practice Director for property & casualty at Milliman. “This strategic alliance enables insurers, MGAs, and start-ups to benefit from world-class actuarial services and solutions along with cutting-edge operational technology.”
“Akur8 is delighted to team up with Milliman. The combination of Akur8’s state-of-the-art platform with Milliman’s leading actuarial expertise and data solutions creates a transformative insurtech solution that will leave conventional methods behind,” says Samuel Falmagne, CEO of Akur8.
About Akur8
Akur8 is the next generation insurance pricing solution. Akur8 is transforming insurance pricing with proprietary ML algorithms that automate rate making end-to-end, up until the generation of filing packages, while preserving control and transparency throughout the process and ensuring regulatory compliance. Akur8 is the only solution on the market reconciling Machine Learning and Actuarial worlds, empowering actuaries and pricing teams to make better decisions, faster.
About Milliman
Milliman is among the world’s largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211109005203/en/
Contact information
Media
For Akur8
Anne-Laure Klein
anne-laure.klein@akur8-tech.com
+1 917-251-1593
For Milliman
Rebecca Driskill
rebecca.driskill@milliman.com
+1 646-473-3017
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Omilia Appoints Ryan Kam as Chief Marketing Officer to Lead Global Brand and Growth Strategy22.7.2026 15:00:00 EEST | Press release
Omilia, a global leader in Self-Learning Agentic CX, today announced the appointment of Ryan Kam as Chief Marketing Officer (CMO). Ryan will be responsible for Omilia's global brand, demand generation, and marketing strategy as the company scales its go-to-market presence across enterprise markets. In his new role, Kam will own Omilia's global marketing function, spanning brand strategy, demand generation, product marketing, analyst relations and communications. He joins at a moment of significant commercial momentum: Omilia has seen accelerating enterprise demand across all industries and is investing in a marketing engine built to match the pace of its growth. Ryan Kam brings more than 20 years of marketing leadership across some of the most recognized names in enterprise technology. Most recently, he served as CMO at Egnyte, a leader in cloud content security and governance. Prior to that, Kam held the CMO role at LogicMonitor, where he drove growth for one of the leading infrastruc
Echodyne Announces ATAK Integration for MESA® Radar Platform22.7.2026 15:00:00 EEST | Press release
Echodyne, the radar platform company, today announced the availability of an Android Team Awareness Kit (ATAK) plugin for its MESA® radar platform. The integration enables users to configure, control, and visualize data from Echodyne radars within the ATAK environment, supporting military, public safety, and security operations that rely on TAK for shared situational awareness. The plugin extends radar management and visualization capabilities to ATAK users, allowing high-fidelity radar data and system controls to be accessed through a familiar operational interface. By integrating radar data into existing TAK workflows, organizations can streamline deployment, reduce operator workload, and improve access to real-time situational awareness. TAK is a government-developed geospatial platform used across U.S. military, federal, state, and local government organizations, as well as by U.S. partner nations. According to the U.S. Army TAK Product Center, the TAK ecosystem supports 15 Departm
OneSpan Introduces DigipassONE, Bringing a Unified Platform Approach to Authentication Modernization22.7.2026 15:00:00 EEST | Press release
Organizations are under increasing pressure to modernize authentication while supporting existing infrastructure, meeting evolving regulatory requirements, deploying emerging technologies, and reducing operational complexity. For financial institutions in particular, authentication modernization must balance security, compliance, and operational efficiency while meeting the evolving expectations and preferences of their customers. Yet the journey to modern authentication is rarely a single technology transition. Organizations must continue supporting multiple authentication methods while gradually adopting new technologies, making it essential to modernize without disrupting existing environments, user experiences, or business operations. To help organizations navigate this transition, OneSpan Inc. (NASDAQ: OSPN) today announced DigipassONE™, its unified platform for authentication, transaction security, in-app protection, analytics and digital credential innovation. DigipassONE introd
StructureCraft Scales Data-Driven Design on NetApp22.7.2026 15:00:00 EEST | Press release
NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced that StructureCraft, an award-winning global structural engineering and construction firm known for complex timber and hybrid builds, is now using NetApp to modernize and create an AI-ready data infrastructure. The new infrastructure enables the company’s employees to collaborate globally, store and manage large-scale design workloads, and take advantage of AI-driven tools on a scalable, centralized platform. StructureCraft specializes in innovative timber engineering, structural design, and sustainable building solutions for large-scale architectural projects worldwide. Its globally distributed team delivers complex projects across North America, Europe, and Asia, guided by a core purpose to engineer and build beautiful, efficient structures. The StructureCraft team regularly takes on complex projects such as designing and constructing of the Barbados National Performing Arts Pavilion, a ground-breaki
New Visa Data Reveals How the FIFA World Cup 2026™ Created Pop-Up Economies Across Canada, Mexico and the United States22.7.2026 14:00:00 EEST | Press release
After the final whistle blew on the FIFA World Cup 2026™, millions of fans returned home with unforgettable memories and a trail of economic activity that stretched across countries. Every tap to pay left a lasting impact, as spending throughout the tournament delivered a meaningful boost to merchants and local economies across host cities in Canada, Mexico and the United States. According to new data from Visa, the tournament drove significant growth in cross-border spending, international travel, and digital commerce across host cities. The findings show how a major global event creates “pop-up economies,” defined by Visa as temporary, highly concentrated periods of commercial activity that emerge around major cultural, entertainment and sporting events. The data reveals that fans traveled from around the world to follow their teams, generating a surge in Visa cardholder spending across restaurants, transportation, entertainment, retail, lodging, and other sectors. From iconic host c
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom