Akur8 for Managing General Agents (MGAs)
New challenges for MGAs
MGAs are facing increasing competitive pressure for capacity, a volatile pricing environment, business fluctuations with periods of high growth and downscaling, and higher non-catastrophic losses. These trends are creating a strong need for differentiation on the market - which can be achieved by having a clear and actionable pricing strategy.
Boost your pricing process
Shift to a more data-driven pricing strategy
Improve risk segmentation and increase speed-to-market by 10x. Find the signal even in small, noisy datasets to generate higher-quality models with up to 10% higher predictive power vs manually-computed models. Shift to a proactive approach to pricing by automating variable interactions and geo-modeling.
Establish trust with your partners
Streamline communication through readily available documentation explaining your pricing strategy. Easily extract the rating structure and automate documentation exports to ease communication with your stakeholders but also for audit and compliance purposes.
Implement a scalable approach to pricing
Implement a scalable pricing framework that can support your next phase of growth with an unlimited number of users, and minimize ramp-up time regardless of the changes in your team. Keep your models safe and traceable thanks to the documentation feature and cloud storage. Centralize modeling across all your contracts.
They implemented the solution
“Providing efficient, reliable and consistent pricing creates a win-win for the risk taker and agent. Having the ability to improve risk pricing by running complex models and updating those models as new data comes in at any moment is a game changer for us, and a competitive differentiator. It is crucial for the rapidly changing E&S marketplace.”
"Akur8’s platform offers a best-in-class pricing ecosystem for data analytics, risk and demand modeling, rate making and impact assessment. Akur8’s pricing suite is fully integrated and easy to use. It allows us to speed up our modeling process, turning weeks of modeling into a few hours and shifting team effort from production to analytics and decision making."
