Insurtech Akur8, winner of the Insurtech of the Year 2020 Finance Innovation Award, and AXA Spain have announced their partnership to help improve the insurer’s pricing process. For the French start-up, this is the first contract with a Spanish partner in one of the most competitive European insurance markets.

Specially developed for insurers, Akur8’s solution aims at improving their underwriting process by automating risk and demand modeling using proprietary technology based on transparent artificial intelligence. Key benefits include a significant reduction in modeling time, speeding time to market, and more predictive models, while maintaining full transparency and control over the models created.

“Akur8 is very pleased to announce this partnership with AXA Spain and to provide them with one of the most innovative solutions on the market to profoundly transform their pricing while fostering innovation in this absolutely key process. AXA Spain is a forerunner in the Spanish market to offer ever more transparent and fair prices to their policyholders,” said Samuel Falmagne, CEO of Akur8.

AXA is one of the leading insurers in Spain, with more than 3 million policyholders. Through this partnership, AXA Spain hopes to significantly accelerate its time to market and offer more targeted and personalized pricing to its clients, while working towards the digital transformation of the sector.

“Our partnership with Akur8 reinforces our commitment to customer proximity, to offer the greatest possible personalization to our policyholders, one of the pillars of our strategy in Spain. It also illustrates our desire to differentiate ourselves through innovation and to promote digital transformation, particularly in these complex times,” said Nuria Fernández, Director of Client Offerings and Actuarial Services at AXA Spain.

“Akur8 saves time on modeling, allowing us to establish new prices much faster, thus reducing our time to market while increasing the productivity of our teams,” says Enrique Rodríguez, Director of the Individual Actuarial Department at AXA Spain.

Translated from L’InsurTech Akur8 et et AXA Espagne annoncent un partenariat pour l’amélioration du processus de tarification