Analyze the impact of price changes faster

Name: Akur8
Brand: Akur8
Rating: 4.9 (16 reviews)

While strong risk models are crucial to build the best pricing strategy, they are only one part of the equation. It is a natural next step to add demand models to evaluate client reactions to price changes. For many insurers, this still leads to a very iterative, slow and manual process of adjusting prices.

Typical challenges

Alignment

Difficulty ensuring that pricing updates remain aligned with your company’s business objectives.

Mispricing

Lacking visibility into subsegments makes it hard to guarantee that no part of your portfolio is making a loss.

Efficiency

Each iteration on your proposed prices requires rebuilding your analysis from scratch.

How Akur8 can help insurers analyzing the impact of price changes

Perform portfolio level impact analysis and ensure alignment

Gain a macro-level understanding of your portfolio by visualizing KPIs, assessing trade-offs between growth and profitability, and comparing multiple pricing strategies simultaneously to ensure alignment with your business objectives.

Perform AI-driven impact analysis by segment and prevent mispricing

Achieve a deep understanding of pricing effects across multiple KPIs and portfolio segments by analyzing factors individually and automatically detecting mispriced segments with AI.

Leverage templates and guided workflows to gain process efficiency

Enhance speed and process efficiency by instantly making changes, refreshing your analysis, graphing multiple KPIs and using a streamlined, guided workflow that simplifies scenario comparison and accelerates internal alignment.

Canopius Vave erzielte eine Verbesserung der Schaden-Kostenquote von 6 %

"Akur8 hat eine großartige Lösung für ein Problem, das wir haben - die Umwandlung von Daten in Underwriting-Maßnahmen - und deshalb ist es für uns absolut sinnvoll, mit ihnen zusammenzuarbeiten."

Mehr als 300 Versicherer weltweit nutzen Akur8