Georgia Farm Bureau Selects Akur8’s Core Platform

The mutual insurer sought to efficiently build high-performing, explainable pricing models.

(Image source: Georgia Farm Bureau home page.)

Georgia Farm Bureau Mutual Insurance Company (Macon), a company offering coverage for farm insurance in addition to virtually every line of insurance in the state of Georgia, has selected Akur8’s (Paris) Core Platform solution to efficiently build high performing, explainable pricing models.

Steven Reslie, Actuary and Manager of Rate Development, Georgia Farm Bureau.

Akur8’s solution enhances pricing processes by using proprietary machine-learning technology. The core benefits for the P&C insurance marketplace include accelerated model building, transparent GLM outputs, and data-driven underwriting, according to the vendor.

“Our team really values the speed of model creation and iteration, transparency and ease of reporting that Akur8’s Core Platform solution provides,” comments Steven Reslie, Actuary and Manager of Rate Development, Georgia Farm Bureau. “Being able to review the indicated vs. predicted and then make a selection is something in the current pricing process that Akur8 helps make a lot more efficient. We also love that if a member of our team ever runs into a roadblock, Akur8’s live support is always there to help us resolve any issues that arise.”

Samuel Falmagne, CEO, Akur8.

“We are thrilled to team up with Georgia Farm Bureau Mutual Insurance Company and empower their pricing team to streamline predictive modeling with a more data driven approach, while also sharing actionable insights with key stakeholders,” comments Samuel Falmagne, CEO, Akur8. “This partnership exemplifies the importance and attractiveness of Akur8’s solution for regional insurance providers within the mutual insurance market in the U.S.”

Upholding High Standards for All Types of Insurance Companies

“Our alliance with Georgia Farm Bureau Mutual Insurance Company demonstrates that Akur8 is a strong, reliable solution that upholds high standards for all types of insurance companies across all lines of business,” Brune de Linares, Chief Client Officer, Akur8. “We are excited to build upon this partnership as we continue to expand within the U.S.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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