About Akur8
Akur8 is an AI-first, end-to-end actuarial pricing and reserving platform designed for insurance companies. It leverages proprietary machine learning algorithms to automate actuarial workflows while maintaining model transparency and explainability.
Akur8 is an AI-first, end-to-end actuarial pricing and reserving platform designed for insurance companies. It leverages proprietary machine learning algorithms, such as Derivative Lasso and Elasticity Modeling, to automate actuarial workflows while maintaining transparency and model explainability. The platform is built to handle the entire pricing value chain, from data preparation and risk modeling to rate making and deployment. Akur8 is cloud-native and designed for collaboration, allowing actuarial teams to work in parallel and share projects via links. It serves over 300 insurance companies across 40+ countries, supporting various lines of business including P&C, health, and life insurance. The platform emphasizes governance and auditability, providing built-in guardrails to ensure decisions are compliant and scalable. Support is provided through documentation, an academy, and actuarial teams, with deployment options focused on cloud-based SaaS delivery.
Pros & Cons
- Cloud-native design enables fast deployment and scalable enterprise performance
- Significantly reduces time required for pricing model development and updates
- Strong governance and audit features ensure compliance with strict insurance regulations
- End-to-end platform reduces need for multiple disconnected pricing tools and systems
- Highly transparent AI models improve trust in actuarial decision-making processes
- Initial setup and integration with legacy systems can be complex for enterprises
- High dependency on cloud infrastructure may limit offline operational flexibility
- Requires significant actuarial expertise to fully leverage advanced modeling features
- Primarily focused on insurance industry, limiting use for other financial sectors
Features
Key features
Utilizes proprietary algorithms like Derivative Lasso and Elasticity Modeling to automate pricing while ensuring model explainability.
Supports the entire pricing and reserving value chain from data preparation and risk modeling to rate making and deployment.
Enables actuarial teams to work in parallel and share projects seamlessly via links within a cloud-based environment.
Provides built-in guardrails and comprehensive reporting features to ensure decisions are auditable and compliant.
Integrates AI-driven market intelligence to transform unstructured regulatory filings into actionable competitive insights.
Additional features
Generate, select, and adjust risk models to build pure premiums.
Assess demand and price sensitivity to adjust pricing strategies.
Build production-ready rate plans with centralized rating sources.
Automatically find optimal rates to meet specific business objectives.
Build production rating with built-in rates and algorithms.
Ensure compliance with automated, comprehensive reporting features.
Refine databases, create new features, and continuously update models.
Benchmark faster and spot competitive moves early.
Automate and streamline the analysis of reserve movements to quantify changes in ultimates.
Perform discounting of stochastic estimates using updated term structure discount rates.
Pricing
Countries & Languages
Interface languages
Billing currencies
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About Akur8
Akur8 is an AI-first, end-to-end actuarial pricing and reserving platform designed for insurance companies. It leverages proprietary machine learning algorithms to automate actuarial workflows while maintaining model transparency and explainability.
Akur8 Details
Akur8's In-App Market Place
Does Akur8 have an in-app market place?
Yes
How many Mini-Apps in the marketplace?
0
Mini Apps
Pricing Options
Accepted Payment Currencies
USD, EUR, GBP, CHF
Pros & Cons
- Cloud-native design enables fast deployment and scalable enterprise performance
- Significantly reduces time required for pricing model development and updates
- Strong governance and audit features ensure compliance with strict insurance regulations
- End-to-end platform reduces need for multiple disconnected pricing tools and systems
- Highly transparent AI models improve trust in actuarial decision-making processes
- Initial setup and integration with legacy systems can be complex for enterprises
- High dependency on cloud infrastructure may limit offline operational flexibility
- Requires significant actuarial expertise to fully leverage advanced modeling features
- Primarily focused on insurance industry, limiting use for other financial sectors
Akur8's Support Options
Email Address
dpo@akur8.comAkur8's Alternatives
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