How does the new Optim module enhance Akur8’s existing platform, and what impact will it have on insurers’ pricing strategies?

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The Optim module represents a natural evolution of our platform, building on the foundation laid by our Impact Analysis module. While the Impact Analysis module enables insurers to simulate the financial and technical effects of different rating strategies using Loss Cost and Demand modeling, Optim takes it a step further. It empowers insurers to achieve their business objectives automatically and swiftly, all while maintaining ease of use and transparency—core principles of Akur8's vision.

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By integrating Optim into their workflows, insurers – regardless of their level of sophistication – can develop more adequate and competitive pricing strategies.  The module provides a clear pathway to align pricing with market demands and business objectives, all while maintaining efficiency and clarity.

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Akur8 Deploy marks your entry into the pricing engine market. What advantage does integrating a pricing engine into a comprehensive pricing platform offer insurers?

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Expanding into the pricing engine market with Akur8 Deploy is an exciting next step for us, as it completes the full pricing lifecycle for insurers. While designing an optimal pricing strategy is critical, the ability to execute and implement that strategy efficiently is just as important. Unfortunately, deploying new rates has historically been a challenging and time-consuming process for many insurers, often bogged down by friction and delays. This slows down their ability to react to market dynamics and undermines the agility required to stay competitive in fast-moving environments.

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Akur8 Deploy addresses this challenge by offering insurers a seamless end-to-end solution.. It enables them to transform meticulously designed pricing strategies into actionable rates, efficiently and effortlessly. In today’s highly competitive markets, the ability to adapt rates swiftly isn’t just an advantage—it’s an essential requirement for success. 

Insurers need the agility to respond swiftly to market shifts, competitor actions and evolving customer demands. Akur8 Deploy equips them with the tools to reduce time-to-market, and enables them to focus on driving business growth.  By integrating a pricing engine into their existing platform, insurers can achieve true operational efficiency, freeing up valuable resources while maintaining the flexibility they need to thrive in an increasingly competitive industry.

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Bruno Becha is VP of Product & Actuarial at Akur8, helping clients accelerate and optimize pricing through Transparent AI. With over 10 years of experience as a Pricing Actuary and Data Scientist, he has worked across insurance carriers and AI software companies, bringing deep expertise in pricing models and advanced analytics to drive impactful results.

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