Akur8 expands European presence with pair of partnerships

AI-powered Insurance pricing software developer Akur8 has expanded its European presence through a partnership with VIG Poland entities, Beesafe and Compensa.

VIG, which claims to be one of the leading insurers in Austria and CEE countries, will leverage Akur8’s technology to improve the digital transformation and pricing process in its Compensa division. Compensa is a Polish insurance firm with policies for transport, property, family and travel cover.

Beesafe, which operates across Austria, and Central and Eastern Europe, offers an inline insurance platform. Its policies include liability and vehicle insurance.

Akur8 CEO Samuel Falmagne said, “We are very happy to support Beesafe and Compensa, part of VIG Poland, in taking a critical step towards insurance pricing sophistication and spurring digital transformation in their field. We are particularly humbled to accompany Beesafe in the launch of their fully digital journey, to help them bring their product to Polish consumers in a timely manner.”

Akur8 has built a transparent AI technology solution which supports the pricing process by automating risk and demand modelling, whilst maintaining control of models created. Its unique pricing solution helps insurers get quicker results.

Through this partnership, Akur8 is now present in seven countries.

“Beesafe is a purely digital venture with a strong InsurTech identity that we are extremely proud to be launching despite a very challenging context undermined by Covid.

Beesafe CEO Rafał Mosionek said, “This is a strong testimony to the team’s commitment to continue to fuel digital transformation in our sector, sustained by collaborations with top-notch solutions that Akur8 epitomizes, for a highly strategic process that is pricing, all the more when launching a new product.”

Akur8 has had a busy first half of 2021. The InsurTech company recently teamed up with wefox Insurance to bolster its presence in Germany.

The company also recently closed a $30m Series B round, which is being used to support these international growth initiatives.

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