GNP Seguros Selects Akur8’s Pricing Solution

GNP Seguros has selected Akur8’s comprehensive pricing solution to empower its actuarial team to build high performing and explainable pricing models.

(Image credit: Tomás Martínez/Unsplash.)

Akur8 (Paris), the creator of a next-generation insurance pricing solution powered by machine learning, has expanded its client footprint in Latin America through a new contract with GNP Seguros (Mexico City), Mexico’s largest insurer, providing both life and non-life products. GNP Seguros has selected Akur8’s comprehensive pricing solution to empower its actuarial team to build high performing and explainable pricing models, according to an Akur8 statement.

Brune de Linares, Chief Client Officer, Akur8.

“In its alliance with GNP Seguros, Akur8 has a very clear mission: to provide state-of-the-art models that automate the pricing process, guaranteeing transparency and efficiency at all times,” comments Brune de Linares, Chief Client Officer, Akur8.

Akur8’s current LATAM-based clients include HDI Seguros (Guanajuato, Mexico/Bogotá, Colombia), Sura Seguros (Medellín, Colombia), and Tokio Marine Seguradora and Bradesco (both based in São Paulo). “We are working together with insurers in the following countries in LATAM: Chile, Brazil, Argentina, Colombia, Mexico, Dominican Republic, El Salvador, Panama, and Uruguay,” an Akur8 source told IIR.

Akur8 says that some of the key advantages of its models for insurers include increased predictive performance and speed of accuracy for greater market reactivity and immediate commercial impact, while maintaining full transparency and control over the models created.

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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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