Tokio Marine Highland Announces New Collaboration with Akur8

Tokio Marine Highland and Akur8 are thrilled to announce their collaboration, which strengthens Tokio Marine Highland’s pricing process in the United States. By deploying Akur8, Tokio Marine Highland will be able to unlock a faster, more effective pricing process while improving the governance of the rate-making process to deliver a safer, more consistent and traceable output. Through this agreement Akur8 further expands its presence in the United States, a key region.

Specifically developed for insurers, Akur8’s solution enhances pricing processes by automating risk modeling using proprietary transparent ML technology. Core benefits for insurers include increased efficiency and speed-to-insights for faster data discovery and evaluation, and advanced predictive modeling capabilities with even small, noisy datasets paving the way towards data-driven underwriting, all while maintaining full transparency and control of the models created.

Tokio Marine Highland (formerly WNC Insurance Services, Inc.) is a wholly owned company of Tokio Marine Kiln, one of the largest carriers in the Lloyd’s of London insurance market, offering a broad suite of trusted, industry-leading specialty risk management solutions, including private flood, fine art, specialty property, real estate investment and lender-placed insurance. By collaborating with Akur8 for their property and casualty pricing innovation initiatives, Tokio Marine Highland bolsters their digital transformation and enhances their capabilities to further boost their competitiveness in the US.

“We are thrilled to accompany Tokio Marine Highland on their digital transformation journey by equipping them with a rate-making solution that helps build a genuine competitive advantage. Pricing is a critical process where robustness and safety are of the essence, coupled with an ever greater need for speed and agility,” noted Samuel Falmagne, CEO at Akur8.

“Akur8 is truly excited to expand our partnership with Tokio Marine Group through this collaboration with Tokio Marine Highland, while also reinforcing our presence in the US – a highly strategic market for us. It is additional proof of Akur8’s relevance for commercial and specialty lines,” said Brune de Linares, Chief of Sales at Akur8.

“Akur8’s insurance pricing solution genuinely enables us to take a strong leap forward in our rate-making process. Being able to identify and prioritize our data needs is critical to our success. Akur8 makes it actionable to understand how to build a better data strategy,” said Nirav Shah, Chief Analytics Officer at Tokio Marine Highland.