Swedbank selects Akur8 to strengthen its insurance pricing process

By Gloria Methri

Swedbank has selected Akur8‘s next-generation insurance pricing platform to enhance its insurance pricing process.

By leveraging Akur8’s cloud-based, fully integrated platform, Swedbank aims to streamline its insurance pricing process, ensuring accuracy, transparency, and an improved customer experience.

Powered by Transparent AI, Akur8’s solution empowers pricing teams to make better decisions faster, by automating risk modelling using proprietary transparent machine learning technology.

The 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 of the models created.

Juris Kipluks, Head of Underwriting at Swedbank said, “During the onboarding, we were impressed with the range of functionalities in the Akur8 suite. The platform is a perfect fit with our development plan and will enable us to improve efficiency in our modelling process. We were especially impressed with Akur8’s lightning-fast user support, which allows us to tap into technical expertise beyond just the platform, focus on the business side and accept new projects – all of which further strengthen our market positioning and serve our clients better.”

Joanna Chardon, Chief Strategy and Product Officer at Akur8 said, “We are delighted to welcome a new client in the Baltics and to work alongside a carrier who shares our commitment to customer support. This synergy is more gratifying as we continue to invest significantly in the development of new functionalities user-friendliness and live support from our teams around the world. With this alignment, our support team can focus on addressing high-value inquiries.”

Julian Frank, Client Director at Akur8 added, “We are glad to cooperate with Swedbank to continue working at the forefront of pricing sophistication, and we are proud to further strengthen our presence in the Baltics. We have worked very closely with Swedbank to ensure we understand their requirements, both from a technical as well as from a business viewpoint – and we are looking forward to a continued and fruitful collaboration with Swedbank.”