The collaboration aims to streamline Seguros Lagun Aro’s pricing processes for its Property and Casualty (P&C) offerings, enhancing both efficiency and pricing accuracy.
Seguros Lagun Aro, headquartered in Bilbao, is known for its commitment to social responsibility and customer-centric insurance solutions. The insurer serves over 340,000 clients across Spain, offering a wide range of motor, home, and life insurance products. Through this partnership, Seguros Lagun Aro will leverage Akur8’s innovative pricing technology to automate and enhance its risk modeling capabilities, significantly improving predictive performance and market responsiveness.
Akur8’s AI-driven platform is designed specifically for insurers, offering a transparent and intuitive solution that accelerates the creation of pricing models. By automating risk modeling, the platform helps insurers achieve greater accuracy and speed in their pricing strategies, while maintaining full control and transparency over the models.
“We are thrilled to partner with Seguros Lagun Aro, a company that shares our commitment to innovation and excellence in the insurance industry,” said Samuel Falmagne, CEO of Akur8. “This collaboration underscores the transformative potential of AI to optimise pricing strategies and deliver real business impact.”
During the pilot phase, Seguros Lagun Aro’s team praised Akur8 for its user-friendly interface, live business support, and transparent model-building process. The solution allowed the insurer to quickly create rate models, enhancing their ability to respond to market changes.
Cristina Galindo Astobieta, Non-Life Statistical Control Technician at Seguros Lagun Aro, expressed excitement about the partnership, stating, “We are implementing Akur8’s pricing solution to enhance our ability to build models with speed and precision. The platform’s automated features and advanced analytics will streamline our processes, allowing us to refine pricing models that respond effectively to market dynamics.”
Source: Akur8
