PARIS & LUXEMBOURG, December 07, 2021--(BUSINESS WIRE)--AXA Luxembourg and Akur8 are delighted to announce their alliance to boost AXA Luxembourg pricing capabilities. AXA Luxembourg is Akur8’s first customer in Luxembourg and third in the Benelux region. It is also the 12th AXA entity choosing to deploy Akur8 to empower their pricing teams.
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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.
AXA Luxembourg has been leading the way in the insurance sector, being historically the first insurer in Luxembourg, more than a century and a half ago. As a well-established insurer, AXA Luxembourg offers policies for all personal and commercial lines, from P&C to health. The company's commitment to transparency, innovation, and flawless execution is in line with their choice to deploy Akur8’s pricing solution. With the Akur8 platform, AXA Luxembourg will empower their pricing team to achieve improved performances and faster modelling-speed on the data-driven part of the rate-making process, enabling them to mobilize more of their actuarial expertise at the service of business impact.
"We are fully aligned with AXA Luxembourg’s focus on transparency and innovation. We are really proud to work with their pricing team and continue to support AXA entities in their pricing sophistication journey. Our Transparent AI will allow AXA Luxembourg to boost their pricing capabilities and focus even more on customer centricity without compromising on control over the models", said Samuel Falmagne, CEO at Akur8.
"We are delighted to announce our new collaboration with AXA Luxembourg. Not only is it expanding our reach in Europe, but it is also reinforcing our collaboration with AXA across geographies and lines of business. We are deeply grateful for the renewed trust of such a prominent global insurer", added Brune de Linares, Chief of Sales at Akur8.
"We pride ourselves on our culture of trust and transparency, both with our policyholders and our teams. Akur8 is the right solution to empower our actuaries to work more efficiently, collaboratively and accurately at the service of our policyholders", stated Johann Girost, Head of P&C Retail Underwriting and Actuarial at AXA Luxembourg.
"By deploying Akur8, our teams managed to reduce time spent on repetitive tasks and devote more time to analyze risk models, with a 360-degree modelling process. I can think about three other major benefits of Akur8 for AXA Luxembourg: its user-friendly ergonomics, the automated documentation functionality and Akur8’s excellent real-time technical support", commented Camille Perrin, P&C Actuary at AXA Luxembourg.
Akur8 is revolutionizing insurance pricing with transparent AI. Akur8 developed a unique AI-based insurance pricing solution that automates modeling for insurance companies while keeping full transparency and control on the models created, as required by regulators worldwide. Akur8 is the only solution on the market reconciling Machine Learning and Actuarial worlds.
About AXA Luxembourg
AXA Luxembourg is a member company of AXA and a well-established insurer in Luxembourg. Its ambition is to empower people to live a better life, and its strategy relies on two main pillars: boost customer focus and encourage the employees’ commitment through a culture of trust.
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