Business Wire

Mutua Madrileña Chooses Akur8 for its Insurance Pricing Process

Share

Mutua Madrileña chooses Akur8 as its new pricing solution for its Non-Life insurance lines (motor, home and multi-risk) in Spain. This allows Akur8 to strengthen its presence in Spain by putting its innovative model at the service of the country's leading General Insurance company.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220621005014/en/

Developed specifically for insurers, Akur8's solution empowers pricing teams to make better decisions faster by automating rate making through its proprietary algorithms powered by Transparent AI. Key benefits for insurers include accelerated speed-to-accuracy and market reactivity for immediate commercial impact, while maintaining full transparency and control over pricing models.

Mutua Madrileña, the leading insurer by turnover in Non-Life insurance in Spain, has chosen to implement Akur8's RISK, DEMAND and RATE modules to remain at the forefront in the predictive power of its pricing models, in the agility of updating rates and pricing new products, and to reinforce the consistency of its modeling process and results.

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

“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” noted Brune de Linares, Chief Customer Officer at Akur8.

"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," commented Federico Vicioso, CTO of Mutua Madrileña.

About Akur8
Akur8 is revolutionizing insurance pricing with Transparent AI, boosting insurers’ pricing capabilities with unprecedented speed and accuracy across the pricing process without compromising on auditability or control.

Our modular pricing platform automates technical and commercial premium modeling. It empowers insurers to compute adjusted and accurate rates in line with their commercial strategy while materially impacting their business and maintaining absolute control of the models created, as required by regulators worldwide. With Akur8, time spent modeling is reduced by 10x, the models’ predictive power is increased by 10% and loss ratio improvement potential is boosted by 2-4%.

Akur8 already serves 50+ customers across 20+ countries, including AXA, Generali, Munich Re, Tokio Marine North America Services (TMNAS); specialty insurer Canopius and MGA Bass Underwriters; consulting partners Xceedance and Perr & Knight; and insurtechs Bought by Many and wefox. Over 700 actuaries use Akur8 daily to build their pricing models across all lines of business. Akur8’s strategic partnerships include Milliman, Duck Creek, Guidewire and Sapiens.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

For Akur8
Anne-Laure Klein, COO
anne-laure.klein@akur8.com
+33 6 63 79 44 74

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

Digi International Unveils Digi XBee LR Module for LoRaWAN Connectivity for IoT Deployments1.7.2022 16:00:00 EEST | Press release

Digi International ®, (NASDAQ: DGII), a leading global provider of Internet of Things (IoT) connectivity products, solutions, and services, today unveiled the Digi XBee® LR, the first XBee-class pre-integrated and pre-certified wireless communication module for sensors and end-nodes using LoRaWAN. Coupled with the rich connectivity, device and gateway management capabilities of Digi X-ON™—its Low-Power Wide Area (LPWA) IoT data cloud platform—Digi provides a complete IoT solution with automated provisioning and deployment to help enterprises achieve significant ROI and faster market access. The Digi XBee LR module brings a new connectivity option to one of the most widely adopted wireless IoT module footprints, with more than 20 million devices deployed. This fully developed, tested, and certified module gives OEMs the freedom to create innovative public- or private-cloud solutions for organizations in agriculture, energy, logistics, manufacturing, utilities, and other sectors. These a

Juniper Networks Announces Cloud Metro Innovation to Drive Sustainable Business Growth for Service Providers1.7.2022 15:35:00 EEST | Press release

Juniper Networks (NYSE: JNPR), a leader in secure, AI-driven networks, today announced the innovation that will power its vision and strategy for Cloud Metro – a new category of solutions for service providers, optimized for metro transformation and sustainable business growth. Traditional “retro” metro networks are device-centric and are buckling under the extreme scale, agility and experience demands that widespread digital transformation and the advent of 5G services are bringing. Today’s announcement focuses on enabling sustainable business growth, with a series of high-performance networking systems, powered by AI-enabled, cloud-delivered automation, specifically designed to build next generation Cloud Metro infrastructure. These systems will deliver significantly-reduced natural resource consumption capabilities to help sustain the planet, improved tools and simplified working methods to help sustain over-pressured operations teams, along with embedded service assurance and secur

Vuram Names Rhys V Jones As Global Head Of Banking Services1.7.2022 14:00:00 EEST | Press release

Rhys V Jones joins Vuram, a global hyperautomation services company specializing in low-code enterprise automation, as the Global Head of Banking Services on 1 July 2022. Rhys has over 17 years of experience delivering large-scale technology transformation for some of the world's largest banking groups. At Vuram, he leads the organization’s Global Banking Practice as a trusted partner and advisor on low code. As a seasoned change professional, Rhys spent his entire career delivering large-scale technology transformation for some of the world's largest banking groups. By aligning low code with an effective resourcing model, he has reduced the delivery time to market and overall costs. Besides, Rhys focuses on talent development and believes that shaping a progressive talent culture positions an organization to embrace successful outcomes. He currently lives in London, from where he will lead Vuram's Global Banking Practice. "After several years being partnered with Vuram and seeing firs

NielsenIQ and GfK to Combine, Creating a Leading Global Provider of Information and Analytics in Consumer and Retail Measurement1.7.2022 14:00:00 EEST | Press release

NielsenIQ and GfK SE (“GfK”), two leaders in global information services, today announced a definitive agreement through which the companies plan to combine, creating new capabilities in the consumer and retail measurement industry. Powered by state-of-the-art cloud technology, the combination will bring together complementary data and analytics assets to provide a comprehensive view of shopper spending through a total store read, enabling clients to anticipate trends and react faster to consumer needs and expectations. The terms of the agreement were not disclosed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220701005193/en/ GfK’s leading position in technology and durables across 67 countries, combined with NielsenIQ’s leading position in the measurement of fast-moving consumer goods in 90 countries will allow for expansion within the companies’ traditional client industries as well as new market segments. With a larger

SMOORE Becomes One of the Shortlisted Enterprises in Shenzhen Municipal Industrial Design Development Support Program1.7.2022 11:07:00 EEST | Press release

Industry and Information Technology Bureau of Shenzhen Municipality announced the list of the second batch of industrial design development support program in 2022. SMOORE, along with Shenzhen Skyworth, DJI and other technology companies were shortlisted. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220701005128/en/ (Photo: Business Wire) The industrial design development support program supports the recognized industrial design centers or industrial design team of enterprises with strong innovation capabilities, design distinctiveness, and key competencies. Meanwhile, the Industry and Information Technology Bureau of Shenzhen Municipality requests the shortlisted parties to lead and support both the advanced manufacturing and prevailing traditional industries with industrial design capability. Ultimately, enterprises shall achieve improvements in four aspects: external appearance, friendly user experience, branding and qu

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