The collaboration aims to enhance MSI’s pricing capabilities by leveraging Akur8’s advanced Risk and Rate modeling solution.
Millennial Specialty Insurance (MSI) provides a diverse range of products, including fully digital embedded renters coverage, high-value homeowners insurance, and sophisticated commercial coverages like umbrella and habitational property insurance. Serving over 1.5 million customers and boasting more than $900 million in written premiums, MSI is dedicated to crafting tailored solutions for the significant risks faced by individuals and businesses.
The partnership marks a significant step in Akur8’s expansion within the US personal insurance marketplace. Akur8’s solution, designed specifically for insurers, improves pricing processes through proprietary machine-learning technology. Key benefits for the property and casualty (P&C) insurance market include accelerated model building, transparent generalized linear model (GLM) outputs, and data-driven underwriting.
“We are excited to collaborate with MSI, a leading managing general agency dedicated to creating and scaling quality insurance products, that will utilize Akur8’s solution to build high performing pricing models. This partnership also demonstrates the relevance and attractiveness of Akur8’s solution for innovative insurance providers within the P&C market,” stated Samuel Falmagne, CEO at Akur8.
Brune de Linares, Chief Client Officer at Akur8 added, “Partnering with a successful company like MSI serves as an example that Akur8 is a premier pricing solution for all sizes of insurance companies across all lines of business.”
“We are excited to collaborate with Akur8 to enhance our risk and rate modeling capabilities,” said Fan Feng, Predictive Modeling Manager, MSI. “We are committed to providing our clients with more accurate and tailored insurance solutions to drive better outcomes, and this collaboration will allow us to leverage innovative technology to enhance our risk assessment capabilities, streamline our operations, and deliver competitive pricing to our clients.”
Source: Akur8
