Akur8 Selected by Cypress Property & Casualty Insurance to Boost Their Pricing Capabilities Across Personal and Commercial Lines of Business

Akur8, the next generation insurance pricing solution powered by transparent machine learning, is excited to announce that Cypress Property & Casualty Insurance Company (Cypress P&C) has selected Akur8’s Risk and Rate modeling solution to empower their actuarial team to build high performing, explainable pricing models, and to establish a robust predictive modeling framework. Through this agreement, Akur8 continues its growth within the personal and commercial insurance marketplace in the U.S.

Developed explicitly for insurers, Akur8’s solution enhances pricing processes by using proprietary machine-learning technology. The core benefits for the P&C insurance marketplace include accelerated model building, transparent GLM outputs, and data-driven underwriting.

“We are thrilled to team up with such a well-respected and established insurer like Cypress P&C, and empower their actuarial team with our state-of-the-art risk and rate modeling platform. This partnership also demonstrates the relevance and attractiveness of Akur8’s solution for insurance providers across the US – a highly strategic market for us,” stated Samuel Falmagne, CEO at Akur8.

Brune de Linares, Chief Client Officer at Akur8 agreed, “Our new partnership with Cypress P&C, a strong, proven insurance provider offering solid insurance products and services for over two decades to meet the needs of home and business owners alike, further demonstrates that Akur8 is a powerful pricing solution for all types of insurance companies across all lines of business.”

Cypress P&C is a Demotech A (Exceptional) rated insurance company, offering an array of innovative insurance products, including Homeowners, Artisans General Liability, and Condominium Owners to clients in Florida and Texas. With outstanding experience, innovation and financial strength, Cypress positions itself to remain an industry leader, and more importantly, to assure its customers that they are covered.

“The Akur8 platform does a remarkable job at streamlining complex ratemaking and modeling tasks. By leveraging this solution, our team can quickly run pricing and profitability models for multiple lines of business, across geographic locations. Akur8 allows us to easily summarize complex results and distribute them across internal teams,” noted John Myers, Vice President, Product Management at Cypress P&C.