AI-driven insurance startup Akur8 revolutionizes insurance pricing with the land of $30 million Series B

Akur8, the developer of AI-powered insurance pricing automation platform that also provides optimization for insurance carriers, has raised a $30 million in a Series B led by an undisclosed investor with the backing of existing investors BlackFin Capital Partners and MTech Capital. The funding is to be used to lead the company to international expansion.

Founded by Guillaume Beraud-Sudreau and Samuel Falmagne in 2018, The company’s platform integrates with leading-edge algorithms dedicated to insurance pricing that can immediately spot anomalies and discover new patterns using which models can be built 10 times faster than with traditional solutions, enabling insurance carriers to improve their profits and win market share with pricing models created and updated in hours instead of months and at the same time allowing actuaries to have control over the whole process.

Samuel Falmagne, co-founder and CEO of Akur8 said: “We are happy to announce the closing of our Series B funding round and are grateful for the support we have seen from our investors. This latest milestone will enable us to accelerate the transformation of insurance pricing even further, fuel our international expansion in the U.S. and APAC, and equip P&C and health carriers with a state-of-the-art, integrated pricing solution that we have been building and refining tirelessly.”

Akur8 is already serving clients in Europe, Asia and The Americas, reports that the new funding will be used to fuel an expansion in the US as well as promote market-specific product features for the US which happens to be the largest insurance market in the world. Additionally, the company wants to accelerate the development of products that would cover the entire pricing suite.

Source: TechCrunch “Insurtech AI startup Akur8 closes $30M Series B”

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