AXA Tianping Companions with Akur8 to Strengthen Pricing Course of

Article content material

Main overseas P&C insurer in China harnesses the facility of AI to speed up digital transformation

PARIS & SHANGHAI, China — AXA Tianping Property & Casualty Insurance coverage Co., Ltd. (“AXA Tianping”), certainly one of China’s largest and most diversified P&C insurers, and Akur8, an AI-driven insurance coverage pricing expertise firm, are delighted to announce their collaboration to additional improve AXA Tianping’s pricing course of with Akur8’s high-performing AI applied sciences. With this partnership, AXA Tianping’s actuaries and pricing staff will formally deploy Akur8 to unlock new potential with distinctive analytical insights and superior pricing automation. AXA Tianping will change into the 13^th AXA entity and the primary insurer in China to make use of Akur8 – a testomony to its dedication to steady innovation and enchancment to raised serve its clients.

Article content material

Because of Akur8’s Clear Synthetic Intelligence proprietary expertise, AXA Tianping will be capable to shorten the time-to-market by automating fee modeling with machine studying within the pricing course of, in addition to enhance the efficiency of insurance policies with strong AI-driven predictive energy. Staying true to its customer-centric strategy to services and products, AXA Tianping will leverage Akur8’s next-generation applied sciences to reply extra promptly to dynamic threat surroundings. It should additionally roll out a various portfolio of well-priced merchandise to fulfill evolving buyer calls for, whereas sustaining full transparency and powerful management.

AXA Tianping and Akur8 share the identical world experience and powerful dedication to develop within the Chinese language market. Absolutely owned by AXA Group, AXA Tianping offers a complete vary of high-quality, personalised services and products throughout well being, motor, way of life, and business strains. Deeply rooted in China for greater than 20 years, the corporate at the moment serves over three million clients nationwide and boasts a footprint of 25 branches throughout China. As AXA Tianping deepens its “Payer-to-Accomplice” technique and strives to empower purchasers in each side of their lives, this partnership with Akur8 will allow the corporate’s skilled actuaries and pricing staff to give attention to what issues probably the most – clients and merchandise – and take advantage of knowledgeable selections at a sooner velocity, driving tangible enterprise influence and progress within the Chinese language market.

“Akur8 brings in cutting-edge applied sciences to our pricing course of, which helps us proceed to try for technical sophistication and empowers us to ship beneficial insurance coverage options to our clients extra effectively whereas guaranteeing utmost transparency and management. We consider Akur8 won’t solely be an essential asset to our staff’s work alongside the entire pricing worth chain, but in addition of nice worth to our clients for offering elevated personalization and focused pricing in a dynamic market. We look ahead to working with Akur8 in unlocking the potential of our enterprise,” said Scott Yin, Chief Pricing Officer & Chief Actuary at AXA Tianping.

“We’re delighted to announce this collaboration with AXA Tianping in China. AXA Tianping is a well-established and famend insurer, and we’re wanting ahead to supporting its actuarial division in its best-in-class technique and progressive explorations. APAC has all the time been a strategic marketplace for us. We’ve got been constructing our presence there for some time now, throughout numerous geographies and insurance coverage strains. This collaboration is an thrilling manner for Akur8 to enter the Chinese language P&C insurance coverage market and to strengthen its world relations with AXA”, stated Samuel Falmagne, CEO at Akur8.

Article content material

By forging this synergetic partnership with Akur8, AXA Tianping demonstrates its sturdy dedication to embracing best-in-class applied sciences and leveraging its technical sophistication globally to serve the native market. AXA Tianping will proceed to serve its clients with a complete suite of tailored services and products effectively and successfully, safeguarding its clients from all walks of life as a real accomplice all through their total life journey.

About AXA Tianping

A member of AXA Group, AXA Tianping (registered in China as AXA Tianping Property & Casualty Insurance coverage Co., Ltd.) is certainly one of China’s largest and most diversified world insurers, offering a complete vary of high-quality, personalised services and products to fulfill the evolving wants of consumers throughout Well being, Industrial Traces and Property & Casualty. The corporate at the moment serves over 5 million particular person and business clients nationwide, and boasts a footprint of 25 branches in 20 provinces throughout China. Transitioning to a give attention to Well being, AXA Tianping is at the moment leveraging a customer-centric ‘Payer-to-Accomplice’ technique in China, together with progressive expertise and distribution, to empower purchasers in each side of their every day lives. In 2019, China Banking and Insurance coverage Data Know-how Administration (CBIT) acknowledged its award-winning providers with an “AA” score, the very best within the nation. In 2021, the corporate was awarded The Insurance coverage Model of the 12 months on the 16^th Annual Finance Summit of Asia and in 2020, the corporate was acknowledged with an ‘Worldwide Common Insurer of the 12 months’ award from Insurance coverage Asia and was additionally acknowledged in 2021 and 2020 with an “A-rating” from S&P World Scores, reflecting the corporate’s sturdy world affect and agency dedication to the native market. AXA Tianping first grew to become a member of the AXA Group as a Joint Enterprise firm in 2014, earlier than changing into fully-owned in 2019. Headquartered in Paris, France, AXA Group itself is at the moment one of many world’s main insurance coverage and asset administration teams. In 2021, it was ranked forty sixth on the Fortune World 500 Listing of the world’s largest corporations. It has been working in China for over 20 years providing the total vary of insurance coverage and safety options to its native and world purchasers.

About Akur8

Akur8 is revolutionizing insurance coverage pricing with clear AI. Akur8 developed a novel AI-based insurance coverage pricing resolution that automates modeling for insurance coverage corporations whereas maintaining full transparency and management on the fashions created, as required by regulators worldwide. Akur8 is the one resolution in the marketplace reconciling Machine Studying and Actuarial worlds.

View supply model on businesswire.com: https://www.businesswire.com/information/residence/20220531005028/en/

Contacts

Media contacts

For AXA Tianping
Rei Liu
+86 134 8216 7502
rei.liu@axatp.com

For Akur8
Anne-Laure Klein
+33 (0)6 63 79 44 74
anne-laure.klein@akur8.com

#distro

Article content material

Main overseas P&C insurer in China harnesses the facility of AI to speed up digital transformation

PARIS & SHANGHAI, China — AXA Tianping Property & Casualty Insurance coverage Co., Ltd. (“AXA Tianping”), certainly one of China’s largest and most diversified P&C insurers, and Akur8, an AI-driven insurance coverage pricing expertise firm, are delighted to announce their collaboration to additional improve AXA Tianping’s pricing course of with Akur8’s high-performing AI applied sciences. With this partnership, AXA Tianping’s actuaries and pricing staff will formally deploy Akur8 to unlock new potential with distinctive analytical insights and superior pricing automation. AXA Tianping will change into the 13^th AXA entity and the primary insurer in China to make use of Akur8 – a testomony to its dedication to steady innovation and enchancment to raised serve its clients.

Article content material

Because of Akur8’s Clear Synthetic Intelligence proprietary expertise, AXA Tianping will be capable to shorten the time-to-market by automating fee modeling with machine studying within the pricing course of, in addition to enhance the efficiency of insurance policies with strong AI-driven predictive energy. Staying true to its customer-centric strategy to services and products, AXA Tianping will leverage Akur8’s next-generation applied sciences to reply extra promptly to dynamic threat surroundings. It should additionally roll out a various portfolio of well-priced merchandise to fulfill evolving buyer calls for, whereas sustaining full transparency and powerful management.

AXA Tianping and Akur8 share the identical world experience and powerful dedication to develop within the Chinese language market. Absolutely owned by AXA Group, AXA Tianping offers a complete vary of high-quality, personalised services and products throughout well being, motor, way of life, and business strains. Deeply rooted in China for greater than 20 years, the corporate at the moment serves over three million clients nationwide and boasts a footprint of 25 branches throughout China. As AXA Tianping deepens its “Payer-to-Accomplice” technique and strives to empower purchasers in each side of their lives, this partnership with Akur8 will allow the corporate’s skilled actuaries and pricing staff to give attention to what issues probably the most – clients and merchandise – and take advantage of knowledgeable selections at a sooner velocity, driving tangible enterprise influence and progress within the Chinese language market.

“Akur8 brings in cutting-edge applied sciences to our pricing course of, which helps us proceed to try for technical sophistication and empowers us to ship beneficial insurance coverage options to our clients extra effectively whereas guaranteeing utmost transparency and management. We consider Akur8 won’t solely be an essential asset to our staff’s work alongside the entire pricing worth chain, but in addition of nice worth to our clients for offering elevated personalization and focused pricing in a dynamic market. We look ahead to working with Akur8 in unlocking the potential of our enterprise,” said Scott Yin, Chief Pricing Officer & Chief Actuary at AXA Tianping.

“We’re delighted to announce this collaboration with AXA Tianping in China. AXA Tianping is a well-established and famend insurer, and we’re wanting ahead to supporting its actuarial division in its best-in-class technique and progressive explorations. APAC has all the time been a strategic marketplace for us. We’ve got been constructing our presence there for some time now, throughout numerous geographies and insurance coverage strains. This collaboration is an thrilling manner for Akur8 to enter the Chinese language P&C insurance coverage market and to strengthen its world relations with AXA”, stated Samuel Falmagne, CEO at Akur8.

Article content material

By forging this synergetic partnership with Akur8, AXA Tianping demonstrates its sturdy dedication to embracing best-in-class applied sciences and leveraging its technical sophistication globally to serve the native market. AXA Tianping will proceed to serve its clients with a complete suite of tailored services and products effectively and successfully, safeguarding its clients from all walks of life as a real accomplice all through their total life journey.

About AXA Tianping

A member of AXA Group, AXA Tianping (registered in China as AXA Tianping Property & Casualty Insurance coverage Co., Ltd.) is certainly one of China’s largest and most diversified world insurers, offering a complete vary of high-quality, personalised services and products to fulfill the evolving wants of consumers throughout Well being, Industrial Traces and Property & Casualty. The corporate at the moment serves over 5 million particular person and business clients nationwide, and boasts a footprint of 25 branches in 20 provinces throughout China. Transitioning to a give attention to Well being, AXA Tianping is at the moment leveraging a customer-centric ‘Payer-to-Accomplice’ technique in China, together with progressive expertise and distribution, to empower purchasers in each side of their every day lives. In 2019, China Banking and Insurance coverage Data Know-how Administration (CBIT) acknowledged its award-winning providers with an “AA” score, the very best within the nation. In 2021, the corporate was awarded The Insurance coverage Model of the 12 months on the 16^th Annual Finance Summit of Asia and in 2020, the corporate was acknowledged with an ‘Worldwide Common Insurer of the 12 months’ award from Insurance coverage Asia and was additionally acknowledged in 2021 and 2020 with an “A-rating” from S&P World Scores, reflecting the corporate’s sturdy world affect and agency dedication to the native market. AXA Tianping first grew to become a member of the AXA Group as a Joint Enterprise firm in 2014, earlier than changing into fully-owned in 2019. Headquartered in Paris, France, AXA Group itself is at the moment one of many world’s main insurance coverage and asset administration teams. In 2021, it was ranked forty sixth on the Fortune World 500 Listing of the world’s largest corporations. It has been working in China for over 20 years providing the total vary of insurance coverage and safety options to its native and world purchasers.

About Akur8

Akur8 is revolutionizing insurance coverage pricing with clear AI. Akur8 developed a novel AI-based insurance coverage pricing resolution that automates modeling for insurance coverage corporations whereas maintaining full transparency and management on the fashions created, as required by regulators worldwide. Akur8 is the one resolution in the marketplace reconciling Machine Studying and Actuarial worlds.

View supply model on businesswire.com: https://www.businesswire.com/information/residence/20220531005028/en/

Contacts

Media contacts

For AXA Tianping
Rei Liu
+86 134 8216 7502
rei.liu@axatp.com

For Akur8
Anne-Laure Klein
+33 (0)6 63 79 44 74
anne-laure.klein@akur8.com

#distro