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Mutua Madrileña Chooses Akur8 for its Insurance Pricing Process

Mutua Madrileña Chooses Akur8 for its Insurance Pricing Process | Fintech Finance

Mutua Madrileña chooses Akur8 as its new pricing solution for its Non-Life insurance lines (motor, home and multi-risk) in Spain. This allows Akur8 to strengthen its presence in Spain by putting its innovative model at the service of the country’s leading General Insurance company. Developed specifically for insurers, Akur8’s solution empowers pricing teams to make better decisions faster by automating rate-making through its proprietary algorithms powered by Transparent AI. Key benefits for insurers include accelerated speed-to-accuracy and market reactivity for immediate commercial impact, while maintaining full transparency and control over pricing models.

Mutua Madrileña, the leading insurer by turnover in Non-Life insurance in Spain, has chosen to implement Akur8’s RISK, DEMAND and RATE modules to remain at the forefront in the predictive power of its pricing models, in the agility of updating rates and pricing new products, and to reinforce the consistency of its modeling process and results.

“We are really looking forward to starting this new collaboration with Mutua Madrileña, a key player in the Spanish insurance market. We are very proud to provide them with a best-in-class solution taking their pricing capabilities to new heights and bolster innovation at the core of the pricing process” stated Samuel Falmagne, CEO at Akur8.

“Reinforcing our footprint in Spain is a great milestone for Akur8’s global expansion. It strengthens our position as the up-and-coming pricing solution on the Spanish market and our relevance among large mutual insurers” noted Brune de Linares, Chief Customer Officer at Akur8.

“For Mutua Madrileña, working with Akur8’s pricing solution will help us to further improve our time to market and continue to offer the best customer experience to our policyholders,” commented Federico Vicioso, CTO of Mutua Madrileña.

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