Luko collaborates with Akur8 to strengthen pricing process
Akur8, developer of a unique AI-based insurance pricing solution that automates modeling for non-life insurance companies, and Luko, a French insurance start-up have announced their collaboration to strengthen Luko's pricing process.
With Akur8, Luko will benefit from a faster and more sophisticated pricing process, while keeping full control of its risk models.
"We are delighted to collaborate with Luko! We share strong common values, at the heart of which is transparency, and we are particularly proud to contribute to the model offered by Luko", said Samuel Falmagne, CEO of Akur8.
Making insurance simpler through an efficient underwriting process
Founded in 2018, Luko’s ambition is to go beyond the simple framework of the contract, to move insurance from a model that is reaction-based to a model based on prevention thanks to technologies developed in-house. Both transparent and solidarity-based, Luko's remuneration model is unique in France and puts the policyholder in the forefront.
"At Luko, we aim to make insurance simpler, more useful and more transparent. This is achieved through an efficient and transparent underwriting process, with a reduced time-to-market to adapt quickly to the market and to our policyholders. My team is delighted with Akur8's pricing solution, which combines all these elements and brings our expertise to the fore", concludes Julien Gigoi, Chief Actuary at Luko.
Luko is one of the fastest-growing insurtech’s in Europe and the leading neo-insurer in France with over 200,000 policyholders.
"Luko is a rapidly growing insurtech in Europe. This new alliance strengthens Akur8's position as the leading pricing solution on the market. This collaboration demonstrates once again that Akur8 is able to support all insurers in the sophistication of their pricing process, whether they are traditional players or innovative insurtechs", comments Brune de Linares, Chief of Sales at Akur8.
Enhancing insurers’ pricing processes by automating risk modeling
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, while maintaining full transparency and control on the models created.
Akur8 believes pricing sophistication should be a priority for insurers who want to stay ahead of the competition and generate tremendous value, while offering more fairness to their customers.
