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Swedbank, a Swedish monetary establishment, has chosen Akur8’s AI-powered platform to refine its insurance coverage pricing course of.
The partnership with Akur8 goals to bolster precision, effectivity and buyer satisfaction in Swedbank’s insurance coverage choices.
Akur8’s cloud-based resolution is tailor-made for insurance coverage corporations, offering superior instruments to automate and optimise pricing fashions with transparency and management.
The collaboration with Akur8 is anticipated to offer Swedbank with an edge within the quickly evolving insurance coverage market.
Swedbank’s insurance coverage portfolio consists of residence, auto, journey, life and bank card legal responsibility insurance coverage.
The platform’s ML expertise facilitates faster, extra knowledgeable pricing selections, resulting in improved predictive efficiency and market responsiveness.
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Akur8 mentioned this integration displays the broader trade development in direction of digital transformation, the place insurtech options are reshaping conventional practices.
Akur8 chief technique and product officer Joanna Chardon mentioned: “We’re delighted to welcome a brand new shopper within the Baltics and to work alongside a service who shares our dedication to buyer help. This synergy is all of the extra gratifying as we proceed to take a position considerably within the improvement of latest functionalities and the user-friendliness and stay help from our groups around the globe.”
Swedbank head of underwriting Juris Kipluks mentioned: “The platform is an ideal match with our improvement plan, and can allow us to enhance effectivity in our modelling course of.
“We have been particularly impressed with Akur8’s lightning-fast person help, which permits us to faucet into technical experience past simply the platform, deal with the enterprise aspect and settle for new tasks – all of which additional strengthen our market positioning and serve our shoppers higher.”
Just lately, Akur8 fashioned comparable partnerships with numerous insurers, underscoring the rising demand for AI-driven pricing options.
Final month, Georgia Farm Bureau Mutual Insurance coverage Firm and MGS Seguros of Spain adopted Akur8’s expertise.
In January 2024, Mapfre, one other Spanish insurer, built-in Akur8’s platform to boost its pricing methods.
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