Guidewire 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.
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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.
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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.”
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“C************** 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.”
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