Akur8 Wins Finance Innovation’s Insurtech of the Year 2020 Award Sponsored by Digital Insure

Paris, October 1, 2020 – The global competitiveness cluster FINANCE INNOVATION awards the “Insurtech of the Year 2020” Prize, in partnership with Digital Insure, to AKUR8, a startup that leverages transparent AI to revolutionize insurance pricing. The startup Monk, for its part, wins the jury’s special award.

As part of the fourth edition of its Insurtech Business Week, FINANCE INNOVATION awarded the “Insurtech of the Year 2020” prize to the startup Akur8, following a vote by a jury composed of 25 executives and experts, and chaired by Fabrice Couturier, co-founder of Digital Insure. After receiving more than 50 applications, the jury had selected 8 finalists, with the help of an algorithm developed by Investance Partners:

• Akur8: insurance pricing process automation solution
• Humans 4 Help: IT services company specializing in process automation (RPA)
• Moneytrack: blockchain-based directed payments platform
• Monk (jury’s special award): automotive damage detection solution
• Particeep: white-label solutions for online distribution of financial products and services
• Testamento: estate planning platform
• Think Insurtech (AOC Insurance Broker): management, security, and performance platform for health insurance
• Seyna: white-label insurance products

As the 2020 winner, Akur8 receives €5,000 to accelerate its development and also benefits from one year of membership to FINANCE INNOVATION. Akur8 is a dynamic and fast-growing insurtech. Its objective is to revolutionize insurance pricing activities by leveraging unique AI algorithms, developed by its R&D team over the past 4 years. AKUR8’s solution allows Property & Casualty and Health insurers to automate their risk modeling process (10x faster), while improving model performance (+10% predictive power) and handling unlimited data volumes and types. The collaborative and transparent nature of the solution enables better internal governance and easier sharing of models with the rest of the organization.

“At the heart of a rapidly changing insurance industry and a crisis context, players are facing new challenges. Insurers and mutuals are seizing the opportunities brought by new technologies (artificial intelligence, blockchain, connected objects, big data, etc.), particularly through collaboration with Insurtechs. This competition, created 4 years ago, highlights the talent and innovation driven by promising Insurtechs, represented this year by Akur8 and the seven other finalists,” comments Maximilien Nayaradou, CEO of FINANCE INNOVATION.

And Fabrice Couturier, co-founder of Digital Insure, adds: “It is strategic for Digital Insure to encourage and support, year after year, innovations in the insurance sector, and particularly at the very beginning of the technological revolution we are starting to experience—an unprecedented and truly exciting revolution: the emergence of new professions and new services initiated by digital technologies and AI, in summary, a new model that will contribute to enriching and consolidating the relationship between the insurer and its client. I am very optimistic, and all these prospects are tremendous for the insurance sector.” He concludes: “It is with this in mind that we are proud to be a key sponsor of Insurtech Business Week and the election of the InsurTech of the Year 2020.”

About FINANCE INNOVATION:
FINANCE INNOVATION, created by the State and driven by the Paris financial marketplace in 2007, is a global competitiveness cluster, of general interest, and a trusted third party for its members and its ecosystem. It is dedicated to supporting and fostering the growth of innovative projects for the competitiveness of the French financial industry and job creation, both in France and internationally. With a network of over 600 members (Public Authorities, Local Authorities, Large Companies, VSEs/SMEs, Startups, Fintechs, Academics, etc.), Finance Innovation brings together a broad ecosystem across 6 strategic sectors: Banking, Insurance, Asset Management, Accounting and Consulting Professions, Real Estate/Smart City, Sustainable Finance and Green Finance. FINANCE INNOVATION labels innovative projects to support them in structuring commercial and capital partnerships.

Press Contacts FINANCE INNOVATION
Bluenne Chaye: bluenne@bluevents.me / 0663195087