Arius is recognised for its tools and methodologies that assist insurers and reinsurers in managing risk and improving financial performance. The platform serves 150 insurance and consulting clients, with over 1,500 users, including several top-tier carriers in the U.S. and Canada.
Arius was acquired from Milliman, Inc., a global provider of actuarial, risk management, and technology solutions. This acquisition broadens Akur8’s product portfolio by introducing Arius’s actuarial platform, which complements Akur8’s existing pricing solutions. Together, Akur8 Pricing and Akur8 Reserving will offer non-life insurance companies enhanced speed, accuracy, and efficiency in actuarial processes, supporting actuaries and underwriters in their core operations.
Samuel Falmagne, CEO at Akur8, commented on the move, saying: “The insurance industry faces increasingly complex challenges, necessitating advanced solutions. Actuaries and insurance professionals must navigate changing regulatory environments and ensure accurate reserving while managing risk and maintaining profitability. The Arius acquisition effectively addresses these concerns and is a significant milestone for Akur8.”
He continued: “It strengthens our market standing, expands our product portfolio and customer base, and reinforces our strong relationship with Milliman. Our ultimate vision is a fully integrated, next generation pricing and reserving platform that redefines actuarial best practices and combines the strengths of both Akur8 pricing and Arius, providing a best-in-class, comprehensive platform that elevates business performance and competitiveness. We are delighted to welcome the Arius team to the Akur8 family and know that together we will deliver even greater value to our clients.”
Ken Scalf, Principal, P&C Insurance Software Solution at Arius, said, “This acquisition combines Arius’s strength in reserving with Akur8’s cutting-edge approach to pricing, empowering us to deliver more comprehensive and forward-thinking solutions to our clients.Together, we can drive significant advancements in the actuarial field and better meet the evolving needs of insurers worldwide.”
“We have been working with Akur8 for five years as they have developed their pricing tool, and over the course of that collaboration we recognised a significant opportunity for Arius to be paired with Akur8’s pricing software,” said Milliman CEO Dermot Corry.
He added: “This is a natural extension of Milliman’s existing relationship with Akur8 and should result in benefits for our shared clients. We are particularly grateful for the contributions of our Arius colleagues and wish them the best of luck as part of Akur8’s impressive team. Milliman increased its equity interest in Akur8 as part of the transaction.”
Source: Akur8
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