Akur8 Releases its first Global Insurance Pricing Survey, Revealing a Desire Across the Insurance Industry for Convergence Between Actuarial and Data Science
Akur8, the AI insurance pricing company, published today results from its first global pricing report, Akur8 Global Pricing Survey: convergence between actuarial and data science awaited!
- Akur8, the AI insurance pricing company, published today results from its first global pricing report, Akur8 Global Pricing Survey: convergence between actuarial and data science awaited!
- Established pricing processes and tools, though robust, continue to make use of legacy pricing approaches, having not yet activated the potential of pricing as a business lever.
- Overall, pricing processes for non-life insurance companies remain mostly manual, leveraging GLMs with little variety in data sources.
- The highest value for insurance pricing will be realized through the convergence of data science and actuarial science.