FCCI Insurance Group Partners with Akur8 to Enhance and Streamline their Underwriting Process and Pricing Capabilities

Akur8 and FCCI Insurance Group have announced their partnership to enhance and streamline the commercial insurers’ underwriting process and pricing capabilities across most FCCI lines of business. Through this agreement, Akur8 further expands its presence in the United States within the Commercial Property and Casualty Insurance marketplace. Choosing Akur8’s best-in-class solution will support FCCI’s efforts to be industry leaders in their risk and rate pricing capabilities, as well as to enhance and accelerate the ability of the predictive modeling team to continually deliver highly efficient underwriting models with visual insights that are explainable across a variety of stakeholders.

Specifically developed for insurers, Akur8’s solution enhances pricing processes by automating risk and rate modeling using proprietary transparent machine learning technology. The core benefits for the Commercial Insurance marketplace include automated model building, transparent GLM outputs, data-driven underwriting and no coding required, all of which effectively accelerates time to market while ensuring full transparency and control of the models created.

“Akur8 is thrilled to partner with FCCI Insurance Group, and to empower them with a state-of-the-art risk and rate modeling platform. Joining forces with a leading property and casualty commercial insurer in the largest insurance market worldwide is a key step for us in our development trajectory. This union also demonstrates the relevance and attractiveness of Akur8’s solution for numerous types of players within the insurance market,” stated Samuel Falmagne, CEO at Akur8. 

“Our strategic partnership with FCCI Insurance Group is a further demonstration of the robustness and attractiveness of Akur8’s solution for a major P&C commercial insurer with a strong position in the U.S. market. We look forward to this paving the way for additional partnerships within the commercial insurance community,” noted Brune de Linares, Chief Client Officer at Akur8. 

“Akur8’s platform is extremely thoughtful and user-friendly for actuarial and predictive modeling teams. Leveraging their risk and rate software and the insights generated from their solution will empower FCCI to run more models across all lines of business, as well as build transparent and explainable models faster while maintaining control over the models created,” noted Rob Davis, Vice President and Actuary at FCCI Insurance.

“Akur8’s risk and ratemaking solution will empower and enable our predictive modeling team to collaborate seamlessly across teams within one single platform, strengthen buy-in from internal stakeholders thanks to the added transparency on data-driven decisions, and drive efficiencies to allocate resources to higher value tasks,” added Daniel Siu, Manager, Predictive Modeling at FCCI Insurance.