Akur8 Raises $30M Series B to Revolutionize Insurance Pricing with AI

The Rise of AI in Insurance Pricing and Akur8's Expansion

The automation of insurance pricing represents a significant commercial opportunity, and artificial intelligence is rapidly gaining traction within this sector. Akur8, an insurtech platform focused on automating insurance processes, is emerging as a key player with its “Transparent AI” offering.

This technology aims to challenge established companies like Willis Towers Watson in the insurance pricing market.

Securing Series B Funding

Akur8 has recently finalized a Series B funding round, securing $30 million from an investor who has chosen to remain unnamed. This investment increases the company’s total funding to $42 million.

The newly acquired capital will be strategically allocated to support the company’s ongoing international expansion initiatives.

Empowering Actuarial and Pricing Teams

Akur8’s platform is designed to assist actuaries and pricing teams in accelerating their decision-making processes related to insurance pricing.

By leveraging AI, the platform streamlines workflows and enhances efficiency.

A Growing Customer Base

Akur8 currently serves a diverse portfolio of clients within the insurance industry.

• Customers include major insurers such as AXA, Generali, and Munich Re.
• Specialty insurers like Canopius and Tokio Marine Kiln also utilize the platform.
• Insurtech companies Wakam and wefox are among Akur8’s clients.
• The platform is also adopted by mutualistic organizations like Matmut.

Statements from Leadership

Samuel Falmagne, co-founder and CEO of Akur8, expressed his satisfaction with the Series B funding. He stated, “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.”

He further elaborated that this milestone will facilitate the acceleration of insurance pricing transformation, expansion into the U.S. and APAC regions, and the provision of a cutting-edge, integrated pricing solution.

Investor Confidence

Julien Creuzé, partner at BlackFin Capital Partners, highlighted the firm’s enthusiasm for Akur8’s continued growth.

“The BlackFin team is thrilled to see Akur8 continue to spread its wings and deploy its next-generation pricing platform across insurance carriers worldwide,” Creuzé commented. He also expressed pleasure in welcoming new investors and continuing the partnership with Akur8’s management team.