The Akur8 Accelerator, which offers insurers a cloud-native, fully integrated pricing solution from modeling to deployment, is the result of the agreement.

With new rates and rate adjustments happening up to ten times faster than before, this solution is expected to revolutionize market speed by removing typical IT bottlenecks, cutting down on errors, and improving security, internal governance, and compliance.

Through the Guidewire Marketplace, PolicyCenter users that use the cloud or on-premises may now fully utilize the Akur8 Accelerator for AI-Powered Pricing, which provides an integrated pricing solution for the insurance sector.

"Akur8's cloud-based, machine learning (ML) native insurance pricing solution provides a streamlined user experience to actuarial and pricing experts worldwide," said Will Murphy, vice president of global technology alliances at Guidewire. Our customers have options when creating a best-in-class pricing and rating system thanks to the Guidewire Rating Engine driven by Akur8 models, which also lets each platform shine in its own right. By eliminating the manual labor overhead that frequently impedes pricing efficiency, this integration redefines the conventional rate deployment process and gives insurers greater agility and speed-to-market.

"We are thrilled that the Akur8 Accelerator is now a cloud-native integration with Guidewire," stated Samuel Falmagne, CEO of Akur8. This is an important turning point for Akur8. Through the seamless integration of Akur8's cutting-edge AI-powered pricing technology with Guidewire's industry-leading PolicyCenter platform, we enable insurers to overcome the limitations of traditional rate deployment and set new benchmarks for excellence in the insurance sector.

"Akur8 Accelerator allows for the seamless export and deployment of Akur8 built models into the Guidewire PolicyCenter rating engine, creating a cloud-native fully integrated insurance pricing solution from data to model creation to production rating," said Joanna Chardon, Chief Strategy & Product Officer at Akur8. The Akur8 Accelerator, created specifically for P&C (non-life) insurance carriers, InsurTech, and MGAs, reduces the time it takes to launch new rates and products by introducing cutting-edge automation, boosting security, getting rid of the IT bottleneck, and almost completely removing the possibility of human error.