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SGI CANADA (Regina, Saskatchewan), the property and casualty insurance division of Saskatchewan Government Insurance (SGI), which offers products in five of Canada’s provinces, has adopted Akur8’s (Paris/New York) RISK module for property/casualty lines to boost its insurance pricing process.
Samuel Falmagne, CEO, Akur8.
Akur8 describes the solution as enhancing the pricing processes by automating the rate making process, using Transparent Artificial Intelligence proprietary technology. Core benefits for insurers include increased predictive performance and speed-to-accuracy for higher market reactivity and immediate business impact, while maintaining full transparency and control on the models created, according to the vendor. This will allow for an easier and faster modelling process, in a transparent and explainable way, Akur8 says.
“We are excited to welcome SGI CANADA, and provide them with our state-of-the-art pricing platform,” comments Samuel Falmagne, CEO, Akur8. “The recent evolutions of our product and new features developed show that it truly meets insurers’ needs. We are proud to continue to strengthen Akur8’s development around the world, where Canada plays an important role.”
“Starting this collaboration with SGI CANADA is a major milestone for Akur8,” says Brune de Linares, Chief Client Officer, Akur8. “We are proud to welcome a new client who is respected in the Canadian market and known all across Saskatchewan. This also strengthens our presence in North America among P&C insurers, as Akur8 is designed to support actuaries’ needs in all lines of business.”
Joshua Snow, VP, Pricing, SGI CANADA.
Key to Growth Strategy
“We are pleased to begin this collaboration with Akur8,” comments Joshua Snow, VP, Pricing, SGI CANADA. “Akur8’s pricing solution should help us significantly reduce our time to build models. In addition, we will make the most of the data available to us by leveraging Akur8’s approach to credibility and penalized regression. Adopting the right tool is key to our strategy of growth in other provinces, and ultimately will help us improve our risk modeling and understanding for pricing.”
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