Press release   |   23.05.2024

Foyer chooses the Akur8 actuarial platform to perfect its pricing

Foyer, Luxembourg’s leading insurer, has chosen to partner with Akur8 to improve the efficiency and performance of its underwriting process. Thanks to Akur8’s next-generation insurance underwriting solution, Foyer will be able to make high-impact decisions more quickly and directly improve the company’s performance thanks to fairer and more sophisticated underwriting.

Specially developed for insurers, the Akur8 solution improves their pricing using proprietary technology based on Transparent Artificial Intelligence. In a sector that is both highly regulated and competitive, the readability of models is one of the keys to the Akur8 solution, combined with better performance based on increased predictability and modelling speed.

Foyer has been supporting its policyholders for more than a century, and today serves more than 440,000 individual, corporate and institutional clients in ten European countries. This partnership with Akur8 is a further illustration of the company’s values of innovation, excellence, and integrity, as the Akur8 solution combines cutting-edge technology, actuarial excellence and transparency.

« Akur8 provides a competitive advantage both technically and in terms of governance. With more robust and usable models combined with clear and automated documentation and reporting, it will be easier for us to leverage the actuarial expertise of our underwriting team to make more informed decisions. »

Charlotte Thomas, Head of Actuarial and Profitability at Foyer.

Foyer intends to use Akur8’s capabilities to improve the robustness of its pricing models, while making it easier to compare technical and commercial premiums for its motor, multi-risk home and health insurance lines. The Akur8 solution will also be an asset for reporting and decision-making, thanks to its collaborative features and transparency throughout the pricing process.

« We are very proud of this alliance with Luxembourg’s leading insurer. We look forward to working with Foyer’s teams to simplify and perfect their existing processes while facilitating their governance in terms of underwriting. »

Samuel Falmagne, CEO of Akur8.

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