Akur8 and Guidewire Expand Partnership with New Funding

Akur8, the next generation insurance pricing solution, announced today a significant expansion of their partnership with Guidewire, including the company’s recent investment in Akur8.

“We are extremely excited to expand our partnership with Guidewire, and believe the key to Akur8’s ongoing success as a company and a competitor is to continue expanding our reach in both the insurance and insurtech spaces,” noted Samuel Falmagne, Chief Executive Officer of Akur8.

“To further enable and enhance our capabilities, we recently conducted a new fundraising initiative to bring additional strategic partners to the table. We are thrilled that Guidewire chose to invest in Akur8 – a powerful endorsement of our immediate and future potential, and the first step in what is sure to be a long and successful partnership, with even more exciting news to come. As a proud Guidewire PartnerConnect Solution partner, we are thrilled to once again sponsor Guidewire Connections in November, and present together at ITC Vegas this week,” Sam continued.

Developed explicitly for insurers, Akur8’s solution enhances pricing methods for actuaries and predictive modelers through its unique, cloud-based platform and proprietary, transparent Machine Learning (ML) technology. The core benefits for the P&C insurance marketplace include increased predictive performance and speed-to-accuracy for higher market reactivity and immediate business impact, while also maintaining full transparency and control of the models created.

“When used together, Guidewire’s new cloud-based rating app and Akur8 models offer optimized support for the rating and pricing lifecycle. The combination of Akur8’s innovative and state-of-the-art automated solution with Transparent ML proprietary technology, and Guidewire’s industry-leading P&C platform that supports the entire insurance lifecycle, creates an insurance pricing solution that quickly leaves behind older, conventional methods,” said Roger Arnemann, General Manager & Senior Vice President, Analytics, Guidewire.

Leaders from Akur8 and Guidewire, alongside prominent figures in the P&C insurance industry, will host a workshop this week at the ITC Vegas 2023 conference titled, “Unlocking the Potential of Pricing Analytics and Underwriting Innovation.” This session promises to be a pivotal discussion on the future of insurance pricing and underwriting.