Automate Pricing Processes with Akur8’s New Guidewire Marketplace App
13 Novembro 2023 - 10:30AM
Business Wire
Guidewire (NYSE: GWRE) and Akur8 announced that Akur8’s new
Ready for Guidewire validated accelerator is now available to
PolicyCenter users in the Guidewire Marketplace.
Designed exclusively for the P&C insurance industry, Akur8
leverages machine learning and predictive analytics to empower
insurers to make faster, more informed decisions. Akur8 automates
the generation of production-ready Generalized Additive Models
(GAMs) and Generalized Linear Models (GLMs), allowing pricing teams
to easily build highly predictive models with speed and accuracy.
Integrated with Guidewire, Akur8’s app automates the export of
these Akur8-built risk models into PolicyCenter’s Rating Engine,
removing the traditional IT bottleneck in rate deployment.
Akur8’s Accelerator for AI-Powered Pricing enables insurers
to:
- Accelerate time-to-market for new rates and products;
- Maintain transparency and control over the pricing models
created; and
- Increase accuracy, security, and efficiency.
Akur8’s comprehensive technology supports pricing teams
throughout the whole pricing process, from modeling to deployment.
Cloud-based and collaborative, Akur8 has been designed for business
users, ensuring the technology is easy to adopt.
“Pricing risk correctly is a critical discipline for insurance
companies,” said Samuel Falmagne, CEO of Akur8. “The combination of
our innovative, automated solution and Guidewire’s industry-leading
P&C platform creates a leading-edge insurance pricing solution
that quickly leaves behind older, conventional methods.”
“Congratulations to Akur8 on the release of its new PolicyCenter
app,” said Will Murphy, Vice President, Global Technology
Alliances, Guidewire. “Traditional rate deployment can be a very
tedious task, burdened with manual labor that slows the entire
pricing process. With Akur8 integrated with Guidewire, this labor
is eliminated, increasing efficiency, agility, and speed-to-market
for insurers.”
Akur8 is a Bronze level sponsor of Guidewire Connections 2023.
For more information on the integration, visit the Akur8 booth at
Connections.
About Akur8
Akur8 is revolutionizing non-life insurance pricing with
Transparent Machine Learning, 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 business strategy while
materially impacting their business and maintaining absolute
control of the models created, as required by state regulators.
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 100+ customers across 40+ countries,
including P&C global carriers AXA, Generali, Munich Re, Europ
Assistance, Tokio Marine and MS&AD; commercial P&C insurers
TMNAS, FCCI, NEXT, HDVI and Canal; personal and commercial P&C
insurers Cypress, Madison Mutual and Western Reserve Group; and
specialty P&C insurers Canopius and Bass Underwriters. Over 900
actuaries use Akur8 daily to build their pricing models across all
lines of business. Akur8’s strategic partnerships include Milliman,
Guidewire, Duck Creek and Sapiens.
About Guidewire PartnerConnect ecosystem and Ready for
Guidewire
Guidewire’s solution ecosystem is the largest in the P&C
industry, with more than 190 Solution technology partners providing
over 215 integrations in the Guidewire Marketplace. Guidewire
PartnerConnect Solution technology partners provide software,
technology, and data solutions as well as insurance support
services. Our Solution technology partners help drive business
value and innovation for insurers by developing and delivering
integrations, extensions, apps, and other complementary solutions
for Guidewire products. All of our Ready for Guidewire partner
solutions are validated for security, quality, and compatibility
with Guidewire, and can be found on the Guidewire Marketplace.
For more information about Guidewire PartnerConnect, please
visit http://www.guidewire.com/partners.
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage,
innovate, and grow efficiently. We combine digital, core,
analytics, and machine learning to deliver our platform as a cloud
service. More than 540 insurers in 40 countries, from new ventures
to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable
their success. We are proud of our unparalleled implementation
track record, with more than 1,600 successful projects, supported
by the largest R&D team and partner ecosystem in the industry.
Our marketplace provides hundreds of applications that accelerate
integration, localization, and innovation.
For more information, please visit www.guidewire.com and follow
us on X (formerly known as Twitter) and LinkedIn.
NOTE: For information about Guidewire’s
trademarks, visit https://www.guidewire.com/legal-notices.
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version on businesswire.com: https://www.businesswire.com/news/home/20231113114109/en/
Melissa Cobb Senior Public Relations Manager Guidewire Software,
Inc. +1.650.464.1177 mcobb@guidewire.com
Heide Sacher Head of US Marketing Akur8 973.452.4986
heide.sacher@akur8.com
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