Akur8 for P&C
Commercial lines
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New challenges for Commercial lines
Commercial lines carriers are affected by several long-term trends: the industry race to invest in data & analytics resources, changing customer behaviors and expectations, disruptive competitors and increasing regulatory constraints. Given current market pressure, pricing sophistication is a must for commercial carriers.
Otimize seu processo de precificação
Customize your models with utmost flexibility
The specific risks of commercial lines insurance require extremely flexible modeling tools, giving underwriters the ability to input their industry knowledge and expertise into the rate-making process. Akur8 allows underwriters to manually adjust pricing coefficients and to make sure final rates are both data and expertise-driven.
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Improve your models’ predictive power
Even with heterogeneous and imperfect data, the power of machine learning can generate substantial predictive power gains while helping you improve the quality of your datasets. Build more sophisticated models - which in turn generate significant loss ratio improvement potential.
Achieve significant efficiency gains throughout your pricing process
Price 10x faster thanks to the automation of variable groupings, variable selection, interactions and geo-modeling; and also thanks to project parallelization and auto-generated documentation.
Make the most of limited pricing resources
Investing in pricing process sophistication is a must for all pricing teams. It is even more critical for smaller teams. A high-performing pricing tool can significantly free up time for pricing and underwriting teams to focus on more high-value-added tasks.
They implemented the solution
"Encontramos interações repletas de insights já no primeiro dia de modelagem com a solução de precificação para seguros da Akur8. Aproveitar essa plataforma intuitiva e transparente vai permitir que a nossa equipe de precificação construa modelos melhores, mais rápido, em mais ramos."
"Como uma empresa orientada por dados, a HDVI continua investindo em ferramentas que aproveitam nossos conjuntos proprietários de big data e dados de telemática para desenvolver insights e modelos de risco líderes no setor. A plataforma da Akur8 permite uma colaboração maior em toda a nossa equipe, que está em crescimento. Ao eliminar a barreira da linguagem de programação e oferecer mais transparência, ela vai reduzir erros e nos permitir desenvolver mais rapidamente modelos adicionais que podem ser incorporados às nossas soluções de produtos de seguros e segurança."
