Europ Assistance Group Chooses Akur8 to Strengthen Its Pricing Process
PARIS--(Business Wire / Korea Newswire) June 30, 2022 -- Europ Assistance Group and Akur8 are delighted to announce their collaboration to strengthen Europ Assistance‘s pricing process for its Travel Insurance and Car Assistance programs. By joining forces with one of the world’s leading assistance companies, Akur8 is extending its European footprint and developing its expertise in the pricing of various insurance products.
Specifically developed for insurers, Akur8’s solution enhances their pricing processes by automating risk modeling using Transparent Artificial Intelligence proprietary technology. Core benefits for insurers include increased predictive performance and speed-to-accuracy for higher market reactivity and immediate business impact, all while maintaining full transparency and control of the models created.
In 1963, Europ Assistance invented the concept of assistance. With 24/7 assistance and an international network operating in over 200 countries and territories, Europ Assistance carries out over 11 million interventions each year to protect its hundreds of millions of policyholders around the world, and has received awards in several countries for its excellent services. By choosing Akur8, Europ Assistance is in line with its DNA as a pioneer company: Akur8's pricing solution brings unparalleled speed and accuracy to the insurance pricing process, allowing highly predictive models to be built in record time, while maintaining transparency, auditability and total control over the models.
“We are delighted to support Europ Assistance in enhancing the sophistication of its pricing process! Customer support is very important to us at Akur8, so we are particularly proud to collaborate with a reputable insurer that has received many awards for its reliability”, said Samuel Falmagne, CEO of Akur8.
“We are honored to include a new Generali Group company among our clients. Not only does this new alliance with Europ Assistance strengthen Akur8's presence in Europe, but it also shows that our customers trust us”, added Brune de Linares, Chief Client Officer of Akur8.
“Akur8 is a great pricing tool! We liked the automation of repetitive tasks as well as the quick and easy learning curve of the user interface for all team members. We particularly appreciated working on our own data with the help of Akur8 during the pilot, and we look forward to working together in the future”, concluded Olivier Danneaux, Global Pricing & Underwriting Director at Europ Assistance.
Akur8 is revolutionizing insurance pricing with Transparent AI, boosting insurers’ pricing capabilities with unprecedented speed and accuracy across the pricing process without compromising on auditability or control.Our modular pricing platform automates technical and commercial premium modeling. It empowers insurers to compute adjusted and accurate rates in line with their commercial strategy while materially impacting their business and maintaining absolute control of the models created, as required by regulators worldwide. With Akur8, time spent modeling is reduced by 10x, the models’ predictive power is increased by 10% and loss ratio improvement potential is boosted by 2-4%. Akur8 already serves 50+ customers across 20+ countries, including AXA, Generali and Munich Re; specialty insurers Canopius and Tokio Marine Kiln; insurtechs Wakam and wefox; and mutual insurer Matmut. 700 actuaries use Akur8 daily to build their pricing models across all lines of business.
About Europ Assistance
Founded in 1963, Europ Assistance, the inventor of the assistance concept, supports its customers in over 200 countries and territories through a network of 750,000 approved partners and 43 assistance centers. Our mission is to provide people and companies with solutions adapted to any emergency or everyday situation - anywhere, anytime. Europ Assistance provides roadside assistance, emergency assistance and travel insurance services, as well as personal assistance services such as support for seniors, digital identity protection, telemedicine and concierge services. The commitment of its 10,000 employees is to be the most reliable assistance company in the world. Europ Assistance is part of the Generali Group, one of the world's leading insurance companies.
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This is a news release distributed by Korea Newswire on behalf of this company.