PARIS--(BUSINESS WIRE)--Luko and Akur8 are delighted to announce their collaboration to strengthen Luko's pricing process! By forging this alliance with the first French neo-insurance company, Akur8 affirms its solid position in its domestic market and consolidates its position within the insurtech ecosystem in France and internationally.
Specifically developed for insurers, Akur8’s solution enhances their pricing processes by automating risk modeling, using Transparent Artificial Intelligence proprietary technology. Core benefits for insurers include increased predictive performance and speed-to-accuracy for higher market reactivity and immediate business impact, while maintaining full transparency and control on the models created.
Founded in 2018, Luko is not a simple insurer: its ambition is to go beyond the simple framework of the contract, to move insurance from a model that is reaction-based to a model based on prevention thanks to technologies developed in-house. Both transparent and solidarity-based, Luko's remuneration model is unique in France and puts the policyholder in the forefront. Thanks to this strong positioning, Luko is now the fastest growing insurtech in Europe and the leading neo-insurer in France with over 200,000 policyholders. The neo-insurer has surrounded itself with the best partners and, by choosing Akur8 to strengthen its pricing process, Luko demonstrates its commitment to excellence and transparency. With Akur8, Luko will benefit from a faster and more sophisticated pricing process, while keeping full control of its risk models.
"We are delighted to collaborate with Luko! We share strong common values, at the heart of which is transparency, and we are particularly proud to contribute to the model offered by Luko", said Samuel Falmagne, CEO of Akur8.
"Luko is a rapidly growing insurtech in Europe. This new alliance strengthens Akur8's position as the leading pricing solution on the market. This collaboration demonstrates once again that Akur8 is able to support all insurers in the sophistication of their pricing process, whether they are traditional players or innovative insurtechs", comments Brune de Linares, Chief of Sales at Akur8.
"At Luko, we aim to make insurance simpler, more useful and more transparent. This is achieved through an efficient and transparent underwriting process, with a reduced time-to-market to adapt quickly to the market and to our policyholders. My team is delighted with Akur8's pricing solution, which combines all these elements and brings our expertise to the fore", concludes Julien Gigoi, Chief Actuary at Luko.
About Akur8
Akur8 is revolutionizing insurance pricing with transparent AI. Akur8 developed a unique AI-based insurance pricing solution that automates modeling for insurance companies while keeping full transparency and control on the models created, as required by regulators worldwide. Akur8 is the only solution on the market reconciling Machine Learning and Actuarial worlds.
About Luko
Luko is reinventing home insurance and home services, putting social responsibility and technology at the heart of its priorities through a proactive and preventive approach. B-Corp certified and with the highest rated customer service in its category, Luko is today the first neo-home insurance in France, with over 200,000 policyholders.
Founded in 2018 in Paris, Luko transforms the perception of insurance to create a truly positive experience. Co-founders Raphaël Vullierme (CEO) and Benoît Bourdel (CTO) have combined their expertise to create a company with a positive impact. Through a unique blend of technology, transparency and social responsibility, Luko aligns its interests with those of its policyholders through its Giveback programme, and commits to donating excess premiums to associations chosen by policyholders.
