Tokio Marine North America Services (TMNAS) Announces New Collaboration With Akur8 to Strengthen Their Pricing Process

Tokio Marine North America Services (TMNAS) and Akur8 are thrilled to announce their new partnership, which amplifies and innovates the insurance pricing capabilities at TMNAS in their key operating markets. By deploying Akur8, TMNAS will be able to convert data into underwriting action by setting up predictive models across all product lines thanks to Akur8’s Transparent Machine Learning (ML) technology. This collaboration reinforces Akur8’s footprint in North America, a strategic region.

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“Akur8 is excited to expand our partnership with Tokio Marine Group through TMNAS and continue to grow our presence in North America, a highly strategic market for us. This partnership is additional proof of Akur8’s relevance across lines of business – personal, commercial and specialty lines”

Specifically developed for insurers, Akur8’s solution enhances pricing processes by automating risk modeling using proprietary transparent ML technology. Core benefits for insurers include increased efficiency and speed-to-insights for faster data discovery and evaluation, and advanced predictive modeling capabilities with even small, noisy datasets paving the way towards data-driven underwriting, all while maintaining full transparency and control of the models created.

Tokio Marine North America Services (TMNAS) is part of the Tokio Marine Group, one of the largest insurance groups in the world, and provides professional services supporting the insurance operations of Tokio Marine Group companies, including Philadelphia Insurance, Tokio Marine America and First Insurance Company of Hawaii. In the United States, Tokio Marine Group is among the top corporate insurance providers, and leads the specialty insurance market. By collaborating with Akur8, TMNAS bolsters their pricing capabilities by quickly building predictive models to extract the best signals from data and identify new insights, and ultimately by delivering transparent outputs to underwriters.

“We are thrilled to support TMNAS on their digital transformation journey by equipping them with a powerful insurance pricing solution that helps build a true competitive advantage across their lines of business, with predictive models that are intuitive and easily explainable,” noted Samuel Falmagne, CEO at Akur8.

“Akur8 is excited to expand our partnership with Tokio Marine Group through TMNAS and continue to grow our presence in North America, a highly strategic market for us. This partnership is additional proof of Akur8’s relevance across lines of business – personal, commercial and specialty lines,” says Brune de Linares, Chief Customer Officer at Akur8.

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“Automation, digitalization and simplification of key business and technology processes have become centerpiece approaches for us as we gain operational efficiency and strive for new and innovative solutions. Leveraging new technologies and emerging best-in-class solution providers to accelerate innovation is a key part of our strategy. Akur8 brings both unique technology and deep expertise which together amplify the value delivered in key functions, such as pricing, where we have long been strong. They are making us even better, providing tools to be nimble and timely in a changing market, where speed and quality matter almost in equal parts,” stated Robert Pick, EVP & Chief Information Officer at TMNAS.

“Akur8’s insurance pricing solution will enable TMNAS to quickly build intuitive and easily explainable predictive models across all products, providing new insights for underwriters. As a shared services company, it is key for us to be able to translate predictive information into useful measures for our clients. Akur8 will help us fill a missing component to complete the framework for transparent, and data-driven decision-making,” stated John Ferraro, SVP & Pricing Actuary at TMNAS.

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