New York, NY – November 12, 2024

Akur8, the next-generation insurance pricing and reserving solution powered by transparent machine learning, is pleased to announce that Utica First, a leading small business and personal lines insurer, has chosen Akur8’s Core Platform Solution to enhance its pricing models. With Akur8’s support, Utica First will build a predictive modeling process to improve the sophistication of their rating structure, establish more detailed territories, and uncover actionable insights for underwriting.

Developed explicitly for insurers, Akur8’s solution enhances pricing practices by using proprietary machine-learning technology. The core benefits for the P&C insurance marketplace include accelerated model building, transparent GLM outputs, and data-driven underwriting.

Founded in 1903, Utica First has built a strong reputation for delivering tailored insurance solutions to small businesses across multiple states, with a focus on niche markets such as artisan contractors, restaurants, and many other building owners’ policies. By prioritizing customer-centric innovation, Utica First continues to lead in the property and casualty insurance space. 

"Utica First’s selection of Akur8’s solution reinforces the value of our Core platform in transforming insurance pricing processes," stated Samuel Falmagne, CEO at Akur8. "We are excited to support their team in achieving greater efficiency and precision in their pricing models."

Brune de Linares, Chief Client Officer at Akur8, added, “By integrating Akur8’s solution, Utica First will benefit from the transparency and speed of our machine-learning technology, allowing them to focus on delivering superior value to their customers. This new partnership highlights the effectiveness of Akur8’s solution in improving the pricing process for insurance carriers of all sizes and across all lines of business.”

"We were highly impressed by Akur8's ability to identify gaps in our territories within the first week of our trial. Its impact will be immediate and powerful," said David Hall, Senior Actuary at Utica First.

ABOUT AKUR8

Akur8 is transforming the non-life insurance industry with its innovative suite of pricing and reserving solutions.

Our Next Gen Pricing and Reserving Platform combines cutting-edge technology with actuarial excellence to drive business value, bringing speed, performance, transparency, and reliability to insurers of all sizes.  

Akur8 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 their pricing models and reserving projections across all lines of business. 

ABOUT UTICA FIRST

With over 100 years of experience, Utica First Insurance Company offers customized property and casualty insurance products, focusing on small businesses and personal lines. Their adoption of Akur8’s innovative pricing platform aligns with the company’s ongoing commitment to providing personalized, efficient service, ensuring even greater precision in underwriting and pricing for their clients. Learn more at www.uticafirst.com.

Press Contacts 

Heide Sacher

Head of Marketing for US

Akur8

908-977-6526

heide.sacher@akur8.com