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Bradesco Seguros (São Paulo), a Bradesco Seguros Group company focused on auto and property, has selected Akur8’s (Paris/New York) modular pricing platform to accelerate its advanced risk model development and rate modeling. Bradesco Seguros is Akur8’s first customer in Brazil, as the company continues to expand its presence in bancassurance and Latin America, according to an Akur8 statement.
“At Bradesco, we are always looking for new ways to provide our customers with the best products and services,” comments Saint’Clair Lima, Director, Bradesco Auto/RE. “We believe that the collaboration with Akur8 is another step towards providing fair insurance based on each person’s need and situation.”
Akur8’s solution is designed to enhance pricing processes by using proprietary machine-learning technology. The core benefits for insurers include accelerated model building, transparent GLM outputs, and data-driven pricing decisions, according to the vendor. By selecting Akur8’s RISK and RATE modules, the vendor reports that Bradesco Auto/RE increases its pricing sophistication, enables more frequent updates, improves the predictive power of its models and ultimately strengthens the entity’s entire pricing process.
“We are absolutely thrilled to support Bradesco Seguros, the third largest non-life insurance company in Brazil, and to empower their modelers with our state-of-the-art risk and rate modeling platform,” comments Samuel Falmagne, CEO, Akur8. “This partnership also rewards our bet in Brazil, showing the relevance and attractiveness of Akur8’s solution for local insurers.”
Strategic Use of Innovative Technology
Fabio Dragone, Director of Innovation and Digital, Bradesco Seguros, characterizes the engagement with Akur8 as another result of Grupo Bradesco Seguros’ investment in technology and its strategy of capitalizing on innovative initiatives throughout the company.
“We have an Innovation team that monitors the domestic and international market, always seeking companies that are developing products and services that can contribute to our business,” Dragone explains. “In 2022, for example, we conducted several proofs of concept with the objective of delivering, in a faster manner, the best insurance solutions for consumers.”
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