Akur8, the next-generation insurance pricing solutions has forged a strategic partnership with Bradesco Seguros, a company under the Bradesco Seguros Group umbrella, specialising in auto and property insurance.
The new partnership marks Akur8’s entry into Brazil, as the company expands its presence in the Latin American bancassurance market.
Akur8’s pricing platform will enhance Bradesco Seguros’ solutions – it’s latest ecosystem partner. Akur8 already serves over 80 customers across more than 40 countries, including prominent names such as AXA, Generali, and Munich Re.
Akur8’s pricing solution will streamline Bradesco Seguro’s processes
According to reports, the partnership will accelerate Bradesco Seguros’ risk model development and rate modelling. Akur8’s modular pricing platform has been specifically designed for insurers and will streamline the pricing process at Bradesco Seguros.
Akur8 also provides insurers benefits such as accelerated model building, transparent GLM outputs, and data-driven pricing decisions.
The insurtech’s platform automates both technical and commercial premium modelling, reducing modelling time tenfold and improving models’ predictive power by 10%.
Data shows the platform’s ability to boost loss ratio improvement could be as high as 2-4%.
Speaking about the new partnership, Saint’Clair Lima, director at Bradesco Auto/RE, said, “At Bradesco, we are always looking for new ways to provide our customers with the best products and services. We believe that the collaboration with Akur8 is another step towards providing fair insurance based on each person’s need and situation.”
Samuel Falmagne, CEO of Akur8 (pictured), commented, “We are absolutely thrilled to support Bradesco Seguros, the third largest non-life insurance company in Brazil, and to empower their modellers with our state-of-the-art risk and rate modelling platform.”
He added: “This partnership also rewards our bet in Brazil, showing the relevance and attractiveness of Akur8’s solution for local insurers.”
Source: Fintech Global
