Akur8, the next generation insurance pricing solution powered by transparent machine learning, is thrilled to announce its partnership with Millennial Specialty Insurance, LLC (“MSI”), one of the largest non-carrier-affiliated managing general agencies in the United States. MSI has selected Akur8’s Risk and Rate modeling solution to empower their pricing team to streamline decision making processes by leveraging Akur8’s innovative approach.
Through this agreement, Akur8 continues its growth within the personal insurance marketplace in the U.S. Developed explicitly for insurers, Akur8’s solution enhances pricing processes by using proprietary machine-learning technology. The core benefits for the P&C insurance marketplace include accelerated model building, transparent GLM outputs, and data-driven underwriting.
“We are excited to collaborate with MSI, a leading managing general agency dedicated to creating and scaling quality insurance products, that will utilize Akur8’s solution to build high performing pricing models. This partnership also demonstrates the relevance and attractiveness of Akur8’s solution for innovative insurance providers within the P&C market,” stated Samuel Falmagne, CEO at Akur8.
Brune de Linares, Chief Client Officer at Akur8 added, “Partnering with a successful company like MSI serves as an example that Akur8 is a premier pricing solution for all sizes of insurance companies across all lines of business.”
MSI offers an expanding suite of products, from fully digital embedded renters coverage to highvalue homeowners insurance and sophisticated commercial coverages, such as umbrella and habitational property. With more than one and a half million customers and over $900 million in written premium, MSI aims to craft solutions for important risks facing individuals and businesses.
“We are excited to collaborate with Akur8 to enhance our risk and rate modeling capabilities,” said Fan Feng, Predictive Modeling Manager, MSI. “We are committed to providing our clients with more accurate and tailored insurance solutions to drive better outcomes, and this collaboration will allow us to leverage innovative technology to enhance our risk assessment capabilities, streamline our operations, and deliver competitive pricing to our clients.”
The post Akur8 Selected by MSI to Boost Their Pricing Capabilities Across Personal Lines of Business appeared first on FF News | Fintech Finance.
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{URL}https://ffnews.com/newsarticle/insurtech/akur8-selected-by-msi-to-boost-their-pricing-capabilities-across-personal-lines-of-business/{/URL}
{Author}Lauren Towner{/Author}
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{Keywords}Insurtech,News,Akur8,embedded renters coverage,machine learning,managing general agencies,MGA,P&C,personal insurance,personal insurance marketplac,Risk and Rate modeling{/Keywords}
{Source}Platforms{/Source}
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