Seguros Sura Adopts Akur8 to Boost Its Insurance Pricing Process Across Latin America

June 02, 2022 at 02:30 AM EDT

Akur8 and Sura are pleased to announce their collaboration to enhance Seguros Sura’s pricing capabilities on personal auto lines across Argentina, Chile and Colombia. Through this new partnership, Akur8 reinforces its presence in Latin America, where the company has been present since its second year of operations, and further accelerates its global expansion.

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Specifically developed for insurers, Akur8’s solution empowers pricing teams to make better decisions faster, by automating rate modeling using transparent Artificial Intelligence proprietary technology. Core benefits for insurers include accelerated speed-to-accuracy and market reactivity for immediate business impact, while maintaining full transparency and control on the pricing models.

One of the leading P&C insurance companies in Latin America, Seguros Sura has chosen to implement Akur8’s state-of-the-art solution to automate the pricing process of their personal auto lines across Argentina, Chile and Colombia, to harmonize practices and approaches as well as to augment pricing team’s capabilities.

“We are very excited to start this new collaboration with Seguros Sura. We are proud to provide them with a best-in-class solution to take their pricing capabilities to new heights and bolster innovation at the core of the pricing process” stated Samuel Falmagne, CEO at Akur8.

“Forging a new alliance with Seguros Sura in Latin America is another step of Akur8’s global expansion. We are proud to form this new alliance with a top P&C insurer and to reinforce our presence in Latin America” noted Brune de Linares, Chief Customer Officer at Akur8.

About Akur8

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 45+ 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 Seguros Sura

Sura Group is a holding company, headquartered in Colombia, with a strategic focus on the diversified financial services sector. Seguros Sura is present in 11 countries in Latin America. Seguros Sura provides its customers with a wide range of insurance products through different lines of business such as P&C, Travel and Life.