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Monday, April 15, 2024

Swedbank adopts Akur8’s AI-powered insurance coverage pricing answer 

Swedbank, a Swedish monetary establishment, has chosen Akur8’s AI-powered platform to refine its insurance coverage pricing course of.  

The partnership with Akur8 goals to bolster precision, effectivity and buyer satisfaction in Swedbank’s insurance coverage choices.  

Akur8’s cloud-based answer is tailor-made for insurance coverage firms, offering superior instruments to automate and optimise pricing fashions with transparency and management. 

The collaboration with Akur8 is anticipated to offer Swedbank with an edge within the quickly evolving insurance coverage market.  

Swedbank’s insurance coverage portfolio contains residence, auto, journey, life and bank card legal responsibility insurance coverage.  

The platform’s ML expertise facilitates faster, extra knowledgeable pricing selections, resulting in improved predictive efficiency and market responsiveness.  

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Akur8 stated this integration displays the broader business development in the direction of digital transformation, the place insurtech options are reshaping conventional practices. 

Akur8 chief technique and product officer Joanna Chardon stated: “We’re delighted to welcome a brand new consumer within the Baltics and to work alongside a service who shares our dedication to buyer assist. This synergy is all of the extra gratifying as we proceed to speculate considerably within the growth of recent functionalities and the user-friendliness and stay assist from our groups world wide.”  

Swedbank head of underwriting Juris Kipluks stated: “The platform is an ideal match with our growth plan, and can allow us to enhance effectivity in our modelling course of.  

“We had been particularly impressed with Akur8’s lightning-fast person assist, which permits us to faucet into technical experience past simply the platform, deal with the enterprise facet and settle for new tasks – all of which additional strengthen our market positioning and serve our shoppers higher.”  

Just lately, Akur8 shaped comparable partnerships with numerous insurers, underscoring the rising demand for AI-driven pricing options.  

Final month, Georgia Farm Bureau Mutual Insurance coverage Firm and MGS Seguros of Spain adopted Akur8’s expertise.  

In January 2024, Mapfre, one other Spanish insurer, built-in Akur8’s platform to boost its pricing methods.  

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