Vietnam's PTI Transforms Pricing Strategy with Akur8's Cutting-Edge Machine Learning Platform

Vietnam’s PTI Transforms Pricing Strategy with Akur8’s Cutting-Edge Machine Learning Platform

Akur8, a prominent InsurTech company based in Paris, has recently formed a strategic partnership with the Post Telecommunication Joint Stock Insurance Corporation (PTI), one of the top non-life insurance providers in Vietnam. This collaboration aims to enhance PTI’s actuarial capabilities by implementing Akur8’s advanced pricing platform, ensuring more equitable and competitive insurance pricing.

Enhancing Actuarial Capabilities in Vietnam

The Vietnamese insurance sector is undergoing rapid digital transformation, and this partnership is a vital step for PTI to respond effectively to evolving market demands. With Akur8’s machine-learning platform, PTI can:

  • Accelerate model development: Streamlining the process of creating pricing models.
  • Ensure transparency: Offering clear insights into the pricing mechanisms.
  • Support data-driven pricing: Making informed decisions based on real-time data.

Key Advantages for PTI

By utilizing Akur8’s platform, PTI aims to gain significant insights into its portfolio, improve pricing agility, and foster better collaboration between actuarial and business teams. During a successful pilot phase, PTI was able to build hundreds of models within a month, showcasing the platform’s speed, flexibility, and transparency.

Feedback from PTI’s Team

According to Tien Pham Hong, PTI’s actuary manager, “There is no need to comment on the functionality of Akur8, as it has already proven to be a streamlined and efficient tool for modern actuaries, trusted by companies worldwide. What sets them apart is the exceptional support from their team, who are always available to assist and continuously enhance the user experience.”

Akur8’s Commitment to Innovation

Akur8’s CEO, Samuel Falmagne, expressed enthusiasm about the collaboration, stating, “We are honored to partner with PTI, a leader in Vietnam’s non-life insurance sector. By equipping their actuarial team with our sophisticated pricing platform, we are empowering them to adopt more data-driven, agile, and future-ready pricing strategies in an increasingly competitive landscape.”

READ ALSO  CompSource Mutual Boosts Pricing Accuracy and Efficiency with Akur8 Innovation

This partnership marks a significant milestone for both companies, reinforcing their commitment to innovation and excellence in the insurance industry. For more information about Akur8 and its offerings, visit their official website at Akur8.

To explore more about the future of insurance technology in Vietnam, check out this insightful article from InsurTech News.

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