US insurance consulting firm Xceedance has announced a partnership with Akur8, a Paris-based insurtech that specialises in using artificial intelligence (AI) to deliver pricing solutions to insurers.

The partnership will leverage on the proprietary AI insurance pricing platform that Akur8 has developed and Xceedance’s actuarial expertise to reach out to the industry.

“The Akur8 platform is distinctive in the pricing landscape, with an innovative approach to incorporating data science in the rate-making process,” Xceedance Chief Actuary Matthew Duke said.

“Automation of critical steps in the predictive modelling process significantly reduces time to market, while maintaining high levels of precision and transparency.

“The Akur8 solution, combined with actuarial and analytics services from Xceedance, creates a powerful offering for insurance organisations worldwide.”

Akur8 CEO Samuel Falmagne says the business is excited to join forces with the US firm.

“By combining our resources, we can deliver a strong actuarial value proposition to insurance organisations, leveraging our unique ratemaking platform and top-notch actuarial expertise from Xceedance.”