Business Wire

PZU Group Adopts Akur8 to Boost Its Insurance Pricing Process in the Baltics

Share

Baltic entities of Insurance Group PZU, one of the largest financial institutions in Central and Eastern Europe, and Akur8 are delighted to announce their collaboration, to enhance PZU’s pricing process across two of its Baltic entities. This deal reinforces Akur8’s international reach as the next generation pricing platform, as well as its footprint in Central and Eastern Europe.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210907005004/en/

Specifically developed for insurers, Akur8’s solution enhances their pricing process by automating risk and demand modeling, using transparent Artificial Intelligence proprietary technology. Core benefits for insurers include greater speed-to-accuracy and market agility, without compromising on transparency and control on the models created.

PZU is one of the leading insurance carriers in Poland and Central and Eastern Europe, with 200 years of experience in offering its policyholders the best protection on the market. By choosing Akur8 to fuel the transformation of its pricing process, PZU strengthens its commitment to adopting innovation and AI at scale, to remain at the forefront of the insurance space.

“Akur8 is honored to become the pricing platform of choice for PZU’s Baltic entities. As the leading-edge next generation insurance pricing platform, Akur8 will bring game changing speed and performance to PZU’s pricing teams, while maintaining full auditability of the process”, said Samuel Falmagne, CEO at Akur8.

“This new collaboration with PZU is a milestone for Akur8, marking our entry into the Central and Eastern European insurance market and reinforcing our international footprint. It also validates Akur8’s value for insurers that are already well advanced in their use of AI applied to internal processes”, commented Brune de Linares, Chief of Sales at Akur8.

“We are excited to adopt Akur8 as the insurance pricing platform of two major entities. As the best technology on the market, this move is yet another proof point of our deeply innovative DNA. PZU Estonia strives to partner with the best insurtechs on the market, to always elevate its standards and offer the best protection at the fairest prices to its policyholders”, commented Mihkel Uibopuu, PZU Estonia CEO.

“Akur8 offers a game changing approach to rate making compared to manual solutions, that we were eager to adopt. The benefits in terms of speed and performance are major, while the process is robust and safe. The collaborative and intuitive interface, the smart features as well as the reactive and proficient support were also greatly appreciated by our pricing teams”, added Julius Kondratas, Technical Director and Management Board Member of Lietuvos Draudimas AB.

About Akur8

Akur8 is revolutionizing insurance pricing with transparent AI. Akur8 developed a unique AI-based insurance pricing solution that automates modeling for insurance companies while keeping full transparency and control on the models created, as required by regulators worldwide. Akur8 is the only solution on the market reconciling Machine Learning and Actuarial worlds.

About PZU

The Powszechny Zakład Ubezpieczeń SA Group (PZU Group) is the biggest financial institution in Poland and Central and Eastern Europe. PZU SA heads up the group and its traditions date back to 1803, when the first insurance company was established in Poland.

The PZU Group's consolidated assets total 90 billion Euros. The Group enjoys the trust of 22 million clients in five countries by offering products and rendering services to retail clients, small and medium enterprises and business entities. The Polish market is the PZU Group's core market measured by its magnitude and client numbers. Nevertheless, its subsidiaries play an important role on the markets in Lithuania, Latvia, Estonia and Ukraine. According to spontaneous brand recognition surveys, PZU reached 92%, while aided brand recognition is 100%, making PZU the most recognizable brand in Poland. Since 2010, PZU SA has been listed on the Warsaw Stock Exchange, where it has been one of the large cap blue chips offering the highest amount of liquidity from its floatation.

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
+33 (0)6 63 79 44 74
anne-laure.klein@akur8-tech.com

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

LabGenius Appoints Dr. Didier Landais as Chief Operating Officer22.9.2021 07:00:00 EEST | Press release

LabGenius, the machine learning (ML)-driven protein engineering company, has announced the appointment of Didier Landais Ph.D. as Chief Operating Officer. In this role, Didier will leverage his wealth of experience in business and clinical development to lead the commercialization of LabGenius’ drug discovery platform, EVA TM . This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210921005586/en/ LabGenius Appoints Dr. Didier Landais as Chief Operating Officer (Photo: Business Wire) “I’m delighted that Didier has joined the team,” said Dr. James Field, Founder and CEO of LabGenius. “Didier is a seasoned operator with 30 years of pharmaceutical industry experience and I’m looking forward to working with him as we rapidly grow the company. It’s a testament to the progress we have made at LabGenius and the exciting opportunities we have ahead of us that we were able to attract someone of Didier’s calibre to join us on our journey.” D

Mastercard Launches Strive: a Global Small Business Initiative to Accelerate Economic Recovery22.9.2021 06:20:00 EEST | Press release

Micro and small enterprises are important contributors to job creation and global economic development, representing approximately 90% of business and more than 50% of employment worldwide. However, the pandemic necessitated a rapid shift to digital platforms and processes that have created new opportunities but also pushed many to the brink of failure. To address the transition to digital, Mastercard - through the Center for Inclusive Growth - today launched Strive, a global initiative focused on strengthening the financial resilience of small businesses and supporting their recovery and growth. With an initial philanthropic investment of $25 million from the Mastercard Impact Fund, Strive will help more than five million micro and small businesses around the world access the tools and resources they need to digitize. “When small businesses thrive our local communities and economies thrive, but when they struggle, the impact is widespread,” said Michael Miebach, CEO of Mastercard. “Wh

Moody’s Announces Participation in New GFANZ Alliance: Commits to Align Products and Services to Achieve Net-Zero Greenhouse Gas Emissions by 205022.9.2021 02:01:00 EEST | Press release

Moody’s Corporation (NYSE: MCO) today announced its participation in launching the Net Zero Financial Services Provider Alliance as part of the Glasgow Financial Alliance for Net Zero (GFANZ). As a founding member, Moody’s commits to align all of its relevant products and services to achieve net-zero greenhouse gas emissions by 2050, in addition to reducing its own operational emissions. “Climate change is the world’s greatest risk multiplier and a profound challenge for economies and communities alike. The entire financial industry must take on the shared challenge of enabling an urgent shift to a resilient and sustainable economy. Aligning products and services with net-zero by 2050 will improve decision-making and accelerate the flow of capital to support the transition,” said Rob Fauber, President and Chief Executive Officer of Moody’s Corporation. “We are delighted to join the Net Zero Financial Services Provider Alliance as our latest step to empower organizations in making more

Former Irish Prime Minister Bertie Ahern Announces The World Carbon Neutrality Forum22.9.2021 02:01:00 EEST | Press release

The "World Carbon Neutrality Forum" (WCNF) was announced today by the former President of the European Council (2004) and former Irish Prime Minister Bertie Ahern. Mr Ahern is currently co-chair of the Interaction of Council of Former Heads of State and Government, and the Eco Global Forum. The date of 22nd September has been chosen to mark the first anniversary of President Xi’s double carbon commitment and his efforts towards a community with a shared future. The Forum is established to promote climate cooperation between China, the United States, Europe, and the rest of the World. In its first year of operation, the World Carbon Neutrality Forum will be held virtually and transmitted by a dedicated video platform called the World Carbon Neutrality Media Network. The Forum will be based on a Davos model and will seek to stimulate thoughts globally by leadership on decarbonisation. It is a pluralistic organisation which will meet each quarter and will invite current and former Heads o

Science, Innovation, and Inclusion Are Vital in Addressing the World’s Most Pressing Issues, Says PMI CEO in Speech at Concordia Summit21.9.2021 23:24:00 EEST | Press release

Jacek Olczak, Chief Executive Officer of Philip Morris International Inc. (PMI) (NYSE: PM), today delivered remarks at the 2021 Concordia Annual Summit. Olczak discussed the need to draw on the lessons learned from the global response to COVID-19 and create transparent frameworks and partnerships that harness innovation to build a better world. He explained the importance of focusing on peer-reviewed science to tackle major global issues—including environmental pressure, social inequality, health pandemic, and smoking. Olczak described how the exclusionary practices of many anti-tobacco organizations and NGOs are making it harder for PMI to deliver tobacco harm reduction solutions by introducing scientifically substantiated alternatives as the company moves away from making and selling cigarettes. The Concordia Annual Summit, which coincides with the United Nations General Assembly (UNGA) meeting, convenes the world’s most prominent business, government, and nonprofit leaders to foster

‘Hidden Gem’ Arrives in Rotterdam to be Transformed into Nodule Collection Vessel for The Metals Company21.9.2021 19:37:00 EEST | Press release

The Metals Company (Nasdaq: TMC) today announced that the 228-meter-long former drill ship renamed the Hidden Gem has arrived in Rotterdam, The Netherlands to begin its conversion into what is expected to be the first ship classified as a sub-sea mining vessel by the American Bureau of Shipping. TMC’s strategic partner Allseas acquired the former ultra-deep-water drill ship, which can accommodate 200 people, in March of 2020, as her configuration is well-suited for modifications that will enable the deployment at sea of a 4.5 kilometer-long riser to bring polymetallic nodules up from the seafloor. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210921005945/en/ Hidden Gem vessel (Photo: Business Wire) In partnership with The Metals Company (formerly DeepGreen Metals Inc.), Allseas is developing a deep-sea mineral collection system to responsibly recover polymetallic nodules from the ocean floor and transfer them to the surfac

Rhizen Pharmaceuticals AG Announces First Patient Dosed in a Phase 2 Study of RP7214 in Covid-19 Patients21.9.2021 19:36:00 EEST | Press release

Rhizen Pharmaceuticals AG, a clinical-stage oncology & inflammation-focussed biopharmaceutical company, today announced that the first patient has been dosed in a Phase 2 clinical trial of RP7214, a small molecule oral dihydroorotate dehydrogenase (DHODH) Inhibitor. The randomized, double-blind, placebo-controlled, Phase 2 study will evaluate the efficacy & safety of oral RP7214, in covid-19 patients with mild, symptomatic disease with an underlying risk factor on the background of promising preclinical efficacy & phase 1 healthy volunteer safety. The study is being conducted in India across 12 centres in coordination with Rhizen’s India affiliate, Incozen Therapeutics Pvt ltd., and is designed to enrol up to 204 patients across both study arms. Viral replication involves a huge demand for building blocks and relies on nucleotides derived from host cells. DHODH is a rate-limiting enzyme in the pyrimidine biosynthesis pathway, inhibition of which leads to depletion of host nucleotide po

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