Akur8 is a Paris-based provider of a machine learning-powered insurance pricing and reserving platform for the non-life insurance industry. Its platform combines technology with actuarial expertise to deliver speed, performance, transparency, and reliability for pricing teams. Led by CEO Samuel Falmagne and CCO Brune de Linares, the company serves 250+ customers across 40+ countries, including AXA, Generali, Munich Re, MAPFRE, HDI, Tokio Marine, and MS&AD. Over 3,000 actuaries use Akur8 daily to build pricing models and reserving projections across all lines of business. The company plans to use its new funding to accelerate product innovation with two modules—Optim (pricing optimization) and Deploy (a rating engine to bring rates into production). It also intends to drive growth by leveraging its acquisition of Arius to enter the insurance reserving sector and to accelerate global expansion. Akur8 raised $120M in a Series C, bringing total investment to date to $180M. Akur8 offers a ‘‘Transparent AI’’ pricing platform used by actuaries and pricing teams to accelerate insurance pricing decisions. The product targets large incumbent pricing businesses (Willis Towers Watson is named as an incumbent) and aims to provide an integrated, state-of-the-art solution for P&C and health carriers. Customers named in the article include AXA, Generali, Munich Re, Canopius, Tokio Marine Kiln, Wakam, wefox and Matmut. The company says the new funding will support international expansion, specifically in the U.S. and APAC. Financially, Akur8 has now raised $42 million in total capital following the latest round. Management frames the product as enabling faster, more transparent pricing decisions for insurers and pricing teams. Akur8 is a Paris-based SaaS insurtech startup that automates insurance pricing and risk modeling with an AI algorithm designed to be explainable. Its platform can build risk models more than ten times faster than traditional manual processes, reducing pricing time to market from weeks to hours. Akur8 emphasizes transparency so its models can be reverse-engineered and meet regulatory requirements. The product is deployed by multiple insurance companies across Europe and the Americas. Akur8 positions itself to give carriers real-time pricing capability and improved risk assessment intended to reduce loss ratios. The company is led by founder and CEO Samuel Falmagne and has raised external funding to support growth.

Total raised

$159M

Funding rounds

3

Latest round

Series C

Latest activity

Sep 2024