French insurance coverage expertise firm Akur8 has raised $25m in a brand new funding spherical, which was joined by new investor FinTLV.

The spherical, which brings the full funds raised to exceed $60m, additionally noticed participation from Guidewire Software program and present investor BlackFin Capital Companions.

Akur8 affords a machine learning-powered pricing answer to reinforce insurers’ pricing capabilities by automating technical and industrial premium modelling.

The insurtech claims that it at present serves greater than 100 prospects equivalent to AXA, Generali, Tokio Marine North America Companies (TMNAS) Munich Re, and MS&AD.

In keeping with Akur8 chief consumer officer Brune de Linares, the funds can be used to additional expedite the transformation of insurance coverage pricing, help growth in key markets, together with the US and APAC, and supply property and casualty (P&C) and well being carriers with a complicated, built-in pricing answer.

FinTLV managing associate Gil Arazi mentioned: “We take satisfaction in investing in solely the highest insurtech firms within the business, and Akur8 has confirmed repeatedly that their highly effective insurance coverage pricing software program stands above the remainder.”

Akur8 CEO Samuel Falmagne mentioned: “To additional allow and improve our capabilities, we just lately performed a brand new fundraising to deliver extra strategic companions to the desk. FinTLV Ventures, a number one international enterprise capital agency with an intensive community investing in prime insurtech and fintech firms, selected to put money into Akur8 – a robust endorsement of our rapid and future potential.”

In July this yr, Cypress Property & Casualty Insurance coverage Firm chosen Akur8 to bolster its pricing capabilities throughout the non-public and industrial traces of enterprise.