Tokio Marine HCC Selects Akur8’s Core Platform

The global specialty insurer seeks to expand its pricing capabilities and quickly build inuititive and explainable predictive models.

(Image source: Tokio Marine HCC homepage.)

Tokio Marine HCC, a specialty insurance group within Tokio Marine Group (Tokyo) with offices in the U.S., Mexico, the U.K. and Continental Europe, has selected Akur8’s (Paris) Core Platform solution to fuel innovation by building high-performing pricing models, producing analytics and reporting with ease for powerful insights, and facilitating knowledge sharing across entities, according to a statement from Akur8. Tokio Marine HCC underwrites more than 100 classes of specialty insurance in over 180 countries. Through this agreement, Akur8 continues to expand its presence in the U.S. specialty insurance market.

Mario DiCaro, VP, Capital Modeling & Analytics, Tokio Marine HCC.

“Akur8’s solution empowers our pricing team to build a more streamlined process with strong model governance and intuitive visualizations,” comments Mario DiCaro, VP, Capital Modeling & Analytics, Tokio Marine HCC. “Through the utilization of these advanced features, we are able to put into production some of our more mature model implementations, resulting in increased efficiency. We are leveraging Akur8’s software to modernize our pricing procedures, simplify rate plan changes, and gain better insights.”

Accelerated Model Building

Samuel Falmagne, CEO, Akur8.

Developed specifically for the insurance industry, Akur8’s solution is designed to enhance pricing processes by using proprietary machine-learning technology. The core benefits for the property/casualty insurance marketplace include accelerated model building, transparent GLM outputs, and data-driven underwriting, according to the vendor.

‍”Collaborating with Tokio Marine HCC exemplifies the power of our pricing platform to support insurance specialty groups with deep technical and analytical business expertise,” comments Samuel Falmagne, CEO, Akur8. “We are proud to work with a company that focuses on providing tailored underwriting and the highest quality risk management.”‍

“Our partnership with Tokio Marine HCC illustrates that Akur8 is the premier pricing solution for all sizes of insurance companies across all lines of business,” says Brune de Linares, Chief Client Officer, Akur8.

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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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