The pricing decision intelligence specialist hyperexponential has today unveiled its partnership with Akur8 in a bid to accelerate data-driven specialty and commercial pricing.
In a Press release announcing the new partnership, hyperexponential noted that the integration of the firms’ complementary pricing decision intelligence (PDI) capabilities will look to provide insurers with an automated, data-driven system to allow the accurate pricing of commercial and specialty insurance products.
Commenting on the partnership, Samuel Falmagne, CEO at Akur8 said the company is “delighted” with the join-up. Akur8 and hyperexponential not only provide complementary tools across the value chain, he said, but also share the same values and mission of, “pushing boundaries while deeply supporting customers”.
Falmagne added that the move will allow Akur8 to better address the needs of a specific market with a common goal - empowering specialty and commercial insurers to make truly data-driven decisions.
Adding his thoughts on the partnership, Richard Gunn, chief revenue officer at hyperexponential said: “Many of the insurers we work with have two key challenges. First - they are leaving money on the table by relying on outdated pricing practices, and second – managing the integration burden of a significant transformation initiative.
“Through our partnership with Akur8 we are targeting a material improvement to our customer’s combined ratios, whilst reducing the burden on IT and the business."
