PriyaPatel
TLDR:
LB Forsikring partners with Akur8 to enhance property and casualty insurance pricing by leveraging Akur8’s Transparent AI technology. This partnership aims to improve pricing models and risk assessments in response to market dynamics.
- Akur8 partners with LB Forsikring, a Danish P&C insurance firm, to revolutionize insurance pricing.
- Akur8’s Transparent AI technology facilitates rapid pricing adjustments and enhances financial outcomes.
Key Elements in Detail:
Akur8, known for its innovative insurance pricing solutions using transparent machine learning, has teamed up with LB Forsikring, a leading Danish P&C insurance company. This collaboration is designed to help LB Forsikring adapt its pricing models quickly in response to the unpredictable nature of the insurance market. Akur8’s Transparent AI technology streamlines the pricing process, offering features like accelerated model building and transparent Generalized Linear Model outputs.
LB Forsikring operates as a member-owned entity within Denmark, catering to over 440,000 members and employing around 900 professionals. Through this partnership, LB Forsikring aims to leverage Akur8’s advanced pricing tools for thorough price analysis, simulations, and calculations. This collaboration is expected to bring transparency, auditability, and control to LB Forsikring’s pricing strategies.
Akur8 CEO, Samuel Falmagne, expressed excitement about the partnership, highlighting the tools provided to improve LB Forsikring’s pricing sophistication. Julian Frank, Client Director at Akur8, emphasized the close collaboration with LB Forsikring to meet their technical and business requirements, ensuring enhanced customer service and attracting top talent for pricing teams.
