PARIS–(Business Wire)–Yuzzu and Akur8 are thrilled to announce their partnership, signed in October 2020, as a key landmark to help transform Yuzzu’s pricing process.
Akur8’s solution will enable Yuzzu to automate their risk-modeling process, using transparent Artificial Intelligence proprietary technology. The core benefits for Yuzzu include a drastic reduction in modeling time which will greatly accelerate time to market, the production of much more predictive models, while keeping full transparency and control on the models created. This will enable Yuzzu’s actuarial teams to focus on the expert-driven part of the risk modeling process.
Akur8’s cloud-based solution is fully collaborative and can function on an entirely-remote basis enabling business continuity, a key feature in these troubled times.
Yuzzu will be using Akur8 for all their lines of business, from automotive to property lines.
By using Akur8, Yuzzu will bring substantial added value to their customers, by offering even more personalized and more affordable prices, very in much in line with their customer promise to provide a simple and smooth customer journey while offering affordable policies.
“We are thrilled to accompany Yuzzu along this new journey to empower them with a unique solution to revolutionize their pricing approach, that will allow them to model their risks in a much quicker, safer and more transparent way. As the leading direct insurer in Belgium, Yuzzu is the perfect embodiment of insurers striving to provide their customers with a smooth, simple and seamless customer journey, very much in line with what we are looking to uphold at Akur8”, says Samuel Falmagne, CEO at Akur8.
“We are delighted to announce our partnership with Akur8, which we believe is an advanced and effective solution in the P&C retail Market for risk modeling. The results we observed during the 2-week pilot, that enabled us to test Akur8 in real-life conditions, were compelling, considering both our prediction indicators and the significant time reduction in risk modeling. Above all, we expect it to be of great value for our customers, with increased personalisation and targeted pricing, contributing to offering them a fair insurance policy”, says François Moyrand, Head of Products, Pricing & Analytics at Yuzzu.
Yuzzu, formerly known as Touring Assurance, is the leading Belgian direct insurance company. Yuzzu has been operating since 1996 in the P&C market, from automotive to property personal lines. Yuzzu strives to offer affordable policies through the simplest and smoothest customer journey possible, where transparency is guaranteed at each and every step of the process.
Akur8 is revolutionizing insurance pricing with transparent AI. Akur8 developed a unique AI-based insurance pricing solution that automates modeling for insurance companies while keeping full transparency and control on the models created, as required by regulators worldwide. Akur8 is the only solution on the market reconciling Machine Learning and Actuarial worlds – enabling customer lifetime value based price optimization.
Astrid Noël, Corporate Development Lead ; +33 7 68 24 93 27 ; [email protected]