CORE INSURANCE

Akur8 helps Wefox Insurance Improve their Insurance Pricing Process

Akur8 | June 23, 2021

Akur8 helps Wefox Insurance Improve their Insurance Pricing Process
wefox Insurance and Akur8 are excited to report their coordinated effort, as a vital achievement to reinforce wefox Insurance's pricing process. This arrangement further builds up the presence of Akur8 in Germany, and shows the broadness of Akur8 use cases, working together with a completely advanced neo-guarantor.

Explicitly produced for insurers, Akur8's answer improves their pricing processes via computerizing hazard and request demonstrating, utilizing straightforward Artificial Intelligence proprietary technology. The center advantage for insurers is more noteworthy speed-to-exactness, while keeping up with full straightforwardness and control on the models made.

With Akur8, wefox Insurance further builds up their administration levels to clients and conveyance accomplices. wefox Insurance furnishes dispersion accomplices with custom fitted taxes, exact and designated pricing and high reactivity. Akur8 further backings wefox in its interest to severe endorsing discipline through giving an altogether robust pricing process.

The coordinated effort among Akur8 and wefox Insurance was worked with by Munich Re. This supports Munich Re's vision of key reinsurance organization including best in class counseling administrations by cooperating with their customers along the entire worth chain.

About Akur8
Akur8 is revolutionizing insurance pricing with transparent AI. Akur8 developed a unique AI-based insurance pricing solution that automates modeling for insurance companies while keeping full transparency and control on the models created, as required by regulators worldwide. Akur8 is the only solution on the market reconciling Machine Learning and Actuarial worlds.

About wefox Insurance
wefox Insurance is a digital real-time insurer. Brokers and end customers can take out paperless insurance within a few minutes. Damages are reported digitally and in more than 60 percent cases are settled on the same day. wefox household, liability and motor vehicle insurance are available in Germany, Poland and Switzerland. wefox has just announced their series C funding of over $650m for a valuation of $3bn.

Spotlight

The Digital Economy is innovating and growing in leaps and bounds from FinTech, to RegTech and now InsureTech. "The term ‘fintech’, while a decent attempt to bracket all innovation in an immense industry under one, tell-all heading, is a bit too broad. For that reason, other sub-terms such as regtech, wealthtech and insurtech have emerged.

Spotlight

The Digital Economy is innovating and growing in leaps and bounds from FinTech, to RegTech and now InsureTech. "The term ‘fintech’, while a decent attempt to bracket all innovation in an immense industry under one, tell-all heading, is a bit too broad. For that reason, other sub-terms such as regtech, wealthtech and insurtech have emerged.

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INTELLECTUAL PROPERTY

Zurich American Insurance Co. signs agreement to acquire Special Insurance Services, Inc.

Zurich | November 12, 2021

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CORE INSURANCE

NFP Acquires Foster Park Brokers Inc., Significantly Expanding its Presence in Western Canada

NFP | November 09, 2021

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INSURANCE TECHNOLOGY

NYCM Insurance Launches Snapsheet Payments Software to Enable Digital Payment Options for Claimants and Vendors

Snapsheet | August 27, 2021

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