Credibility and Penalized Regression

TERMS OF USE OF THE PAPER “ANALYSIS OF AKUR8 PRICING SOLUTION AND METHODOLOGY” (“Terms of Use”)

‍In the context of Akur8’s and Milliman’s strategic alliance to provide AI-driven pricing solutions to insurers, Akur8 has engaged Milliman to analyse Akur8’s pricing solution and methodology (“Akur8 Tool”). Milliman’s Paper “Analysis of Akur8 pricing solution and methodology” (the “Paper”) provides a general opinion on the relevance of the modelling choices made by the Akur8 Tool in the context of non-life insurance pricing.Milliman is hereafter referred to as “we” and the readers of the Paper as “you”.

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‍Any judgement on the elements contained in the Paper should be made only after studying the document in its entirety. Any conclusions drawn from one or more sections taken in isolation may be incorrect.The Paper is intended to be used by persons with certain levels of expertise in the areas covered and for the purposes stated. Any reader of the Paper should have a certain level of expertise in the areas related to this analysis, in order to appreciate the significance of the assumptions made and the impact of those assumptions on the results obtained.We recommend that any reader be assisted in reviewing the Paper by a qualified professional to ensure that our findings and recommendations have been understood.The Paper has been commissioned by and prepared for the exclusive use of Akur8, in accordance with the terms of our engagement letter. We make no commitment to third parties and shall not be liable for any use by a third party of an opinion or more generally for the use by such third party of the results included in the Paper. Milliman does not intend to benefit or create any legal obligation to any third-party recipient of its work.‍·
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