HDI Seguros Colombia Adopts Akur8 RISK and RATE Modules for P&C

The agreement follows a successful engagement with HDI in Chile and strengthen’s Akur8’s presence in Latin America.

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Akur8 (Paris) has announced an agreement with HDI Seguros Colombia (Bogotá) aimed at improving the insurer’s pricing process. After successfully deploying Akur8’s solution in Chile in 2022, this new partnership strengthens the relationship between the two companies as well as Akur8’s presence in Latin America, according to an Akur8 statement.

Diego Romero Medina, COO, HDI Seguros Colombia.

“This new alliance with Akur8 is completely in line with our technological and digital DNA,” comments Diego Romero Medina, COO, HDI Seguros Colombia. “It empowers us to conduct faster, better and transparent rate making, and build new models and ultimately new prices in record time, while improving the overall productivity of our team.”

Akur8 describes its insurance-specific solution as enhancing 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.

Part of the global multi-brand Talanx Group (Hannover, Germany), active in financial and insurance services in more than 150 countries, HDI Seguros differentiates itself pioneer company in the insurance business in Colombia recognized for its quality of service and innovative products leveraging new technologies.

Samuel Falmagne, CEO, Akur8.

HDI Seguros Colombia will use Akur8’s RISK and RATE modules for its P&C personal and commercial lines. With Akur8, HDI Seguros will enhance its modeling accuracy and further accelerate its market responsiveness, leading the way in terms of best-in-class pricing in the insurance space, according to the vendor statement.

“We are thrilled to announce our collaboration with HDI Seguros in Colombia and we are excited to onboard another entity in Latin America,” comments Samuel Falmagne, CEO, Akur8. “On behalf of Akur8, we are proud to be the pricing platform chosen two years in a row by HDI and to further improve their insurance pricing capabilities in Colombia.”

Improving Risk Modeling and Rate Making

Pedro Sanchez Melo, Head of Pricing and Reinsurance, HDI Seguros Colombia.

“Strengthening our presence in Colombia is great news and we are proud to support an additional entity of the HDI Group in Latin America, a strategically important region for Akur8,” says Brune De Linares, Chief Client Officer, Akur8. “This partnership demonstrates once again the attractiveness and relevance of Akur8’s solution across the globe.”

“Our pricing experts are looking forward to using Akur8’s RISK and RATE modules to boost our pricing process,” comments Pedro Sanchez Melo, Head of Pricing and Reinsurance, HDI Seguros Colombia. “We firmly believe Akur8 is a state-of-the-art platform that will help us improve our risk modeling and rate-making capabilities which will ultimately maximize business impact.”

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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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