TL;DR:
- HDI Seguros Colombia and Akur8 have formed a strategic partnership to streamline the pricing process in Colombia’s insurance sector.
- Akur8’s machine learning-powered solution will enhance HDI Seguros Colombia’s pricing process, enabling faster, more efficient, and transparent rate-making.
- The collaboration aims to build new models and establish new pricing structures, improving overall team productivity.
- HDI Seguros is a leading insurance company in Colombia, known for its quality service and innovative products leveraging new technologies.
- Akur8’s unique solution accelerates model building, provides transparent GLM outputs, and facilitates data-driven pricing decisions.
- The partnership strengthens the relationship between HDI Seguros and Akur8 while expanding Akur8’s presence in Latin America.
- HDI Seguros will utilize Akur8’s RISK and RATE modules to enhance its property and casualty personal and commercial lines.
- The collaboration signifies a significant step towards improving modeling accuracy, market responsiveness and setting a new standard in insurance pricing.
Main AI News:
In a bold move to revolutionize the insurance landscape in Colombia, HDI Seguros Colombia, a pioneer in the industry renowned for its exceptional service and cutting-edge technological offerings, has joined forces with Akur8, a leading machine learning-powered insurance pricing solution. This strategic partnership aims to optimize HDI Seguros Colombia’s pricing process and propel the company to new heights within the Colombian market.
Having witnessed the remarkable success of Akur8’s solution in Chile last year, HDI Seguros Colombia eagerly embraces this collaboration. The primary objective of the partnership is to streamline HDI Seguros Colombia’s pricing process by harnessing the power of Akur8’s proprietary machine learning technology. The integration of this innovative solution is expected to yield faster, more efficient, and transparent rate-making processes, ultimately driving enhanced productivity across the board.
As a prominent player in the global financial and insurance services sector, HDI Seguros is an integral part of the esteemed Talanx Group, operating in over 150 countries worldwide. Renowned for its commitment to delivering exceptional service, HDI Seguros has earned a well-deserved reputation as a leading insurance provider in Colombia. Notably, the company distinguishes itself by continuously developing groundbreaking products that leverage emerging technologies.
Akur8, on the other hand, has carved a niche for itself with its unique pricing solution tailored specifically for insurers. Powered by advanced machine learning technology, their solution expedites model building, generates transparent GLM outputs, and facilitates data-driven pricing decisions. The collaboration between HDI Seguros and Akur8 not only fortifies their existing relationship but also opens doors for Akur8 to expand its presence in Latin America—an exciting prospect for both companies.
As part of this partnership, HDI Seguros will leverage Akur8’s state-of-the-art RISK and RATE modules for its property and casualty personal and commercial lines. By incorporating these modules, HDI Seguros aims to enhance modeling accuracy, bolster market responsiveness, and set a new industry standard for insurance pricing in Colombia.
Diego Romero Medina, the COO at HDI Seguros Colombia, expressed enthusiasm about the collaboration, stating, “This new alliance with Akur8 aligns perfectly with our organization’s technological and digital DNA. It empowers us to conduct rate-making processes faster, more effectively, and with complete transparency, while enabling us to develop new models and set prices swiftly—all of which significantly enhances our team’s overall productivity.”
Sharing his thoughts on the partnership, Samuel Falmagne, the CEO at Akur8, remarked, “We are delighted to announce our collaboration with HDI Seguros in Colombia and expand our footprint in Latin America. Being chosen as the pricing platform of choice by HDI for the second consecutive year fills us with pride, and we are eager to further elevate their insurance pricing capabilities in Colombia.”
Conclusion:
The strategic partnership between Akur8 and HDI Seguros to streamline the insurance pricing process in Colombia holds great promise for the market. By leveraging Akur8’s machine learning technology, HDI Seguros aims to achieve faster and more efficient rate-making, leading to improved productivity and enhanced customer experiences. The collaboration also underscores the increasing importance of innovative solutions in the insurance sector, signaling a shift towards data-driven pricing decisions and setting a new industry standard. This partnership sets the stage for transformative changes, driving greater competitiveness and innovation within the Colombian insurance market.
