German digital insurer Freeyou Insurance AG fast-tracks pricing with Akur8

Akur8, the next generation insurance pricing solution, is excited to announce that Freeyou Insurance AG, a German digital insurer, has selected Akur8 to boost its pricing capabilities. Through this new collaboration, Akur8 expands its footprint in Germany, one of its strategic key growth markets, and continues its growth within the personal lines market in Europe.

The product portfolio offered by Freeyou Insurance AG encompasses motor insurance, items and repair cost insurance as well as extended warranties. Developed explicitly for insurers, Akur8’s solution enhances pricing processes with a cloud-based, fully integrated insurance pricing platform offering an unparalleled user experience and ML native capabilities. The core benefits for the P&C insurance marketplace include accelerated model building, transparent GLM outputs, and data-driven underwriting.

Founded in 2018, Freeyou Insurance AG is a German digital insurer, specializing in auto and personal possessions insurance. Its mission is to make insurance simple, digital and intelligent, thereby relieving its customers of the tedious paperwork and confusing insurance jargon. By incorporating Akur8’s full platform, including the RISK, DEMAND, and RATE modules, into their insurance pricing workflow, Freeyou Insurance AG aims to strengthen its competitiveness and deliver greater value to its policyholders with the best possible rates.

Both companies have a shared vision of revolutionizing the insurance industry, making their partnership a natural fit. They also align on various adjacent aspects, including their data-driven approach and their commitment to transparency and user-friendliness.

“We are excited about the possibilities that Akur8’s pricing platform brings to our actuarial processes. This partnership aligns with our commitment to innovation and reinforces our position as a forward-thinking insurance provider,” noted René Jansen, Chief Insurance Officer (CIO), at Freeyou Insurance AG.

“The insights generated based on our own data during the pilot project have convinced us of the high quality of the platform, and all that with a very low time investment”, stated Thomas Zehe, Chief of Staff and Actuarial Department, at Freeyou Insurance AG. 

“We are honored to collaborate with Freeyou Insurance AG, a company known for its customer-centric approach and its transparent products. Our comprehensive platform is designed to empower insurers like Freeyou Insurance AG to navigate the complexities of the insurance landscape with precision and agility. We look forward to supporting Freeyou Insurance AG in this transformation,” said Samuel Falmagne, CEO at Akur8.

“Throughout the pilot that we have run together we were extremely impressed by the technical capabilities of the Freeyou Insurance AG pricing team. The Freeyou Insurance AG team has consistently demonstrated their ability to collaborate in an agile and pragmatic manner, which gives us great confidence that this will be an outstanding partnership in the German market,” noted Julian Frank, Client Director DACH & CEE at Akur8.