PARIS & ATHENS, Greece--(BUSINESS WIRE)--Hellas Direct and Akur8 are delighted to announce their collaboration to strengthen Hellas Direct’s top-notch pricing process for motor and home insurance! Hellas Direct is a fast growing, digital-first, full-stack insurtech leveraging cutting-edge technology and AI. With this new alliance, Akur8 enters the Greek insurance market, extending its already strong presence in Europe, and reinforces its footprint among tech-fuelled disruptive insurtechs.
Specifically developed for insurers, Akur8’s solution enhances pricing processes by automating rate making, using Transparent Artificial Intelligence proprietary technology. Core benefits for insurers include increased predictive performance of pricing models and accelerated speed-to-accuracy, unlocking higher market reactivity and immediate business impact, while maintaining full transparency and control on the models created.
Hellas Direct is a digital-first, full-stack insurance company, empowered by cutting-edge technology and the use of advanced analytics. Modeling itself on Amazon, Hellas Direct aims to disrupt the insurance value chain by adopting an extreme focus on operational excellence and data analytics. The company is backed by a roster of leading investors, including the EBRD, Portage Ventures, IFC (a member of the World Bank), EiB, Endeavor Catalyst, and a number of world-renowned angel investors. By choosing Akur8 to empower its pricing team, Hellas Direct is ensuring smoothness of its pricing process end-to-end, from fast and transparent modeling to efficient and insightful rate building, with native ability to share and visualise the information across all stakeholders.
"We are delighted to support Hellas Direct in their fast and disruptive journey! Both Akur8 and Hellas Direct challenge the status quo and would not settle for less than excellence. We look forward to working with Hellas Direct’s expert pricing team to continue to bring leading-edge innovation and technology into the insurance world," said Samuel Falmagne, CEO of Akur8.
"Hellas Direct is growing impressively in Greece and in other European markets. This new collaboration allows Akur8 to expand its footprint in Europe, to reinforce its relevance among leading insurtechs, and to anchor its position as the best-in-class, revolutionary insurance pricing solution," comments Brune de Linares, Chief Customer Officer at Akur8.
"We took great care in building solid partnerships to fuel our ambitious growth. This alliance with Akur8 is no exception. By combining impressive modeling speed with highly qualitative customer support, Akur8 will allow us to keep our best-in-class pricing standards. We are particularly pleased with the scenario-testing capabilities of the Rate module and by the transparency that Akur8 brings, both at the modeling level and on the collaborative aspects across all stakeholders," concludes Giorgos Gakas, Head of Pricing at Hellas Direct.
Akur8 is revolutionizing insurance pricing with transparent AI. Akur8 developed a unique AI-based insurance pricing solution that automates modeling for insurance companies while keeping full transparency and control on the models created, as required by regulators worldwide. Akur8 is the only solution on the market reconciling Machine Learning and Actuarial worlds.
About Hellas Direct
Hellas Direct is an online insurance company which began operating in 2012 with one main goal: change the Greek insurance sector. Hellas Direct introduced its first innovations in the Greek car insurance sector and is now ready to bring change in other markets and sectors, going beyond insurance by offering mobility financing solutions. Hellas Direct was recently listed by the Financial Times as one of Europe’s 1,000 Fastest Growing Companies for the third time.