Akur8 Partners with Tune Protect Malaysia to Enhance Pricing Strategies
Akur8, a leading global actuarial platform, has joined forces with Tune Protect Malaysia. This collaboration allows the digital insurer to implement Akur8’s actuarial AI platform, aimed at bolstering pricing capabilities across its property and casualty (P&C) insurance portfolio.
Empowering Data-Driven Decision-Making
Tune Protect Malaysia, a subsidiary of Tune Protect Group Berhad, plans to leverage Akur8’s pricing solution to promote data-driven pricing decisions. This initiative will enable the delivery of competitive and customer-centric insurance products in an increasingly dynamic market landscape.
Innovative Technology Streamlining Actuarial Workflows
Akur8’s platform is specifically tailored for insurers, utilizing proprietary machine-learning technology to enhance actuarial pricing workflows. It facilitates quicker model development and ensures transparent outputs while fostering clearer communication of pricing insights among underwriting, pricing, and business units.
Accelerating Pricing Cycles through Structured Models
By adopting the Akur8 Pricing solution, Tune Protect aims to speed up pricing cycles and enhance collaboration in decision-making processes through structured modeling and more transparent workflows. This strategic move is expected to align pricing, underwriting, and broader business teams more effectively.
Transitioning Away from Spreadsheet-Heavy Processes
The technology empowers teams to move beyond traditional spreadsheet-based methods, allowing for more agile model refinement. This results in faster insights that are ready for decision-making while maintaining clear and traceable modeling logic.
Enhancing Responsiveness to Market Dynamics
With a streamlined pricing process and improved communication of model assumptions, Tune Protect anticipates a quicker response to market fluctuations, ensuring cohesive alignment across pricing, underwriting, and other business teams.
Leadership Insights on the Collaboration
Hans-Joachim Zimmermann, Appointed Representative of Tune Protect Malaysia, emphasized that Akur8’s Risk module offers advanced tools and diagnostics that significantly enhance the model selection process. The Rate module boosts efficiency by simplifying post-modeling analysis and implementation, effectively replacing time-consuming spreadsheet tasks.
Zimmermann highlighted that this deployment marks a crucial advancement in strengthening pricing governance and enables rapid, data-driven decision-making within the organization. Samuel Falmagne, CEO of Akur8, expressed pride in collaborating with Tune Protect, stating that the partnership supports the insurer’s shift towards more agile, transparent, and scalable pricing processes.