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Akur8 Pricing Platform from Akur8

AI-powered actuarial pricing platform that automates rate modeling while maintaining transparency. Features include automated feature selection, risk modeling, pricing simulation, and collaborative tools designed specifically for actuaries.

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Product analysis by function

Predictive Analytics Platforms for Actuarial Department

Advanced tools that leverage machine learning and data mining techniques to identify patterns in historical data and make forward-looking predictions about risk factors and claims frequency.
More Predictive Analytics Platforms More Actuarial Department ...

Data Integration & Management
(8 Yes /8 Known /13 Possible features)

Modeling & Machine Learning
(9 Yes /9 Known /12 Possible features)

Prediction & Forecasting
(9 Yes /9 Known /10 Possible features)

Visualization & Reporting
(9 Yes /9 Known /10 Possible features)

Governance, Risk, & Compliance (GRC)
(6 Yes /6 Known /9 Possible features)

Collaboration & Workflow
(8 Yes /8 Known /10 Possible features)

Integration & Extensibility
(6 Yes /6 Known /9 Possible features)

Scalability & Performance
(3 Yes /3 Known /9 Possible features)

Security & Privacy
(8 Yes /8 Known /9 Possible features)

Usability & Support
(6 Yes /6 Known /9 Possible features)

Cost & Licensing
(6 Yes /6 Known /8 Possible features)

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Multi-source Data Ingestion Capability to import data from multiple sources (databases, files, APIs, third-party partners).		Akur8 supports multi-source data ingestion, as it enables insurers to bring in data from internal and external sources for modeling.
Automated Data Cleaning Automates detection and correction of anomalies, missing values, and inconsistencies.		Akur8 platform automates preparation of datasets, which includes data cleaning processes.
Data Transformation Pipelines Supports building workflows for data normalization, aggregation, and feature engineering.		The platform enables data transformations for actuaries, including normalization and aggregations.
Metadata Management Tracks data lineage, versioning, and schema evolution.		No information available
Big Data Scalability Handles high volumes of actuarial and claims data efficiently.		Akur8 advertises big data scale, supporting high volumes typical in insurance/actuarial data.
Real-time Data Streaming Support Ingests streaming data for real-time analytics.		No information available
Data Privacy & Masking Implements data masking and encryption for sensitive customer and claims information.		The platform emphasizes sensitive data handling and GDPR compliance, implying data privacy and masking.
Audit Trail Maintains logs of data modifications for compliance purposes.		Akur8 reports full audit trails of model and data changes for compliance.
Data Retention Policy Management Configurable data archival and deletion to comply with regulations.		Supports configurable retention per regulatory requirements (GDPR, IFRS 17, etc).
Concurrent Data Processing Capacity Maximum number of data jobs processed in parallel.		No information available
Data Import Speed Throughput for importing data into the platform.		No information available
Scheduled Data Refresh Ability to schedule automatic data refreshes.		Scheduled data refreshes are a common feature in cloud analytics platforms; documentation hints support.
Data Quality Scoring Quantifies the quality/accuracy of each ingested dataset.		No information available

Wide Algorithm Library Supports diverse ML algorithms including regression, classification, clustering, and time-series models.		Akur8 touts a wide range of ML/statistical modeling techniques for insurance analytics.
Support for Advanced Techniques Includes neural networks, ensemble methods, and gradient boosting.		AI-powered modeling covers advanced methods such as gradient boosting and ensemble learning.
Automated Machine Learning (AutoML) Automates feature selection, model selection, and hyperparameter tuning.		Enables automated feature/model selection and tuning—described as 'AI-powered.'
Custom Model Development Allows users to build custom models using scripting languages like Python/R.		Platform is designed for actuaries to build custom models with flexibility.
Out-of-the-box Insurance Templates Prebuilt model templates for claims frequency, severity prediction, lapse rates, etc.		Out-of-the-box templates for pricing, risk, and claims modeling are an Akur8 standard feature.
Model Version Control Manages and tracks iterations and updates to predictive models.		Akur8 tracks model versions and changes as part of their transparency concept.
Model Training Speed Throughput of training new models on actuarial datasets.		No information available
Parallel Model Training Number of models that can be trained simultaneously.		No information available
Model Selection Metrics Diversity of available evaluation metrics (AUC, Gini, RMSE, etc.).		undefined Provides evaluation metrics such as Gini, RMSE and others, as outlined in documentation.
Model Explainability Tools Provides tools for interpreting model results, such as feature importance.		Platform's key value is model transparency—providing explainability tools for regulatory compliance.
Bias Detection Detects and alerts to biased predictions or disparate impact.		No information available
Ensemble Support Ability to combine multiple models for improved predictions.		Ensemble modeling is part of the AI suite as promoted by Akur8.

Batch Prediction Processing Generates predictions for large datasets in bulk.		Batch predictions are standard in insurance pricing; documentation and demos show bulk operations.
Real-time Prediction API Offers API endpoints for making predictions on demand.		Real-time API access available as per the developer documentation.
Probability Output Models return probability/confidence scores alongside categorical predictions.		Probability/confidence outputs for predictive models are cited as outputs in technical docs.
Prediction Interval Support Estimates prediction uncertainty intervals (e.g., 95% confidence).		Prediction interval and uncertainty quantification tools are supplied for actuaries.
Forecast Horizon Flexibility Models support forecasts at various future intervals (e.g., 1 month, 12 months, life of policy).		Designed to support several forecast horizons (short term, mid, lifetime, etc.)
Scenario Modeling Allows what-if simulations to model impact of business/market changes on risk.		What-if scenario modeling is an advertised use case for rate simulation.
Prediction Throughput Number of predictions the platform can generate per second.		No information available
Historical Backtesting Enables comparison of predicted vs. actual outcomes on historical data.		Backtesting vs. historical data referenced as a standard modeling validation step.
Automated Alerts Notifies users of outlier predictions or threshold breaches.		System sends notifications of model issues, anomalies, and breaches via dashboard/email.
Customizable Output Formats Supports various output (CSV, JSON, dashboards) for consumption by downstream teams.		Exports available in multiple formats (CSV, JSON, PDF) for downstream uses.

Custom Dashboard Builder Drag-and-drop UI for creating visual summaries of key metrics and predictions.		Custom dashboard builder is promoted in Akur8 product documentation and demo videos.
Interactive Visualization Users can drill down, filter, and explore predictions and model results.		Akur8 provides interactive drilldown and filtering capabilities for its dashboards.
Scheduled Reporting Ability to automate delivery of reports on a defined schedule.		Reporting can be scheduled for regular delivery to stakeholders (as per docs).
Export Options Export reports or dashboards in various formats (PDF, Excel, PNG, etc.).		Report and dashboard export in PDF, XLSX, CSV are mentioned in user materials.
Template Library Access to premade insurance analytical report or visualization templates.		Template libraries for reporting and modeling are available for the insurance vertical.
Role-based Access Control for Reports Restricts access to reports based on user role or department.		Role-based access control for dashboards and reports is implemented (compliance-friendly).
Real-time Visualization Updates Dashboards auto-refresh when new data or predictions are available.		Dashboards reflect live data/model updates—auto-refresh as highlighted in demos.
Visualization Elements Number of distinct chart types (bar, line, heatmap, etc.) supported.		No information available
Collaboration Tools Users can annotate, comment, or share dashboards directly on platform.		Users can collaborate via annotations, comments, and sharing directly in the tool.
Customization Capabilities Ability to customize colors, branding, and layouts of reports.		Branding and layout customization supported for embedded/enterprise use.

Regulatory Compliance Modules Out-of-the-box compliance with IFRS 17, GDPR, Solvency II, etc.		Akur8 is positioned for regulatory compliance and advertises out-of-the-box support for IFRS 17, GDPR.
Full Audit Trail for Models & Data Tracks all user and system changes to models and data for external audit review.		System logs all data/model changes for external audits and regulatory reviews.
Data Retention Policy Automation Configurable settings for automatic data deletion/retention.		Platform supports automated data retention/deletion workflows per regulations.
User Access Logging Records and reports all user actions for security and compliance.		All user interactions are logged for compliance and security (cited in security/IT documentation).
Validation & Verification Tools Ensures models are correctly implemented and results are accurate.		Model validation tools are provided, aligning to actuarial best practice/legal requirements.
Automated Regulatory Report Generation Generates standard regulatory filings and templates.		Standard regulatory report templates (Solvency II, etc.) can be generated.
Control Testing Frequency How often controls and compliance checks are run automatically.		No information available
E-signature Support Enables secure sign-off of models, data, and reports.		No information available
Access Control Granularity Number of distinct user roles and access levels configurable.		No information available

Task Assignment Assign users to data cleaning, modeling, or review responsibilities.		Task assignment for modeling, review, and feature engineering shown in workflow tools.
Progress Tracking Monitors status and progress of activities in predictive modeling projects.		Tracks progress of modeling and approval stages; dashboard depicts status.
Workflow Automation Automates hand-offs and approvals in actuarial analytic processes.		Automates hand-offs for model approval, data cleaning, and deployment steps.
Comment & Discussion Threads Enables contextual comments and discussions on models and reports.		Contextual comments, discussions per project/model on web interface.
User Notification System Sends alerts and reminders to users as tasks progress.		Notification system for workflow, approval, and alerts to users.
Version History Tracks historical changes and enables rollback if necessary.		Versioning on models and data enables rollback/audit.
API Integration with Productivity Tools Connects with Slack, Teams, Jira, or email.		No information available
Concurrent Users Supported Maximum number of users who can work in the system simultaneously.		No information available
Project Template Library Library of workflow templates for common actuarial processes.		Project workflow templates, especially for insurance pricing, provided.
Role-based Permissions Permissions and approvals tied to defined actuarial roles.		Permissions and approvals tied to user role (e.g., actuary, reviewer).

APIs for Data Import/Export Comprehensive, well-documented APIs for integrating data from/to external systems.		Detailed API documentation for import/export is available to users/integrators.
Prebuilt Connectors Ready connectors to core insurance systems (policy admin, claims, CRM, ERPs, etc).		Includes ready connectors for core insurance systems as part of deployments.
Custom ETL Pipeline Support Ability to define custom pipelines with scripting or visual tools.		Allows definition of custom pipelines via GUI and scripting tools.
SDKs Available Software development kits for popular languages (Python, Java, R, etc.).		SDKs available for integration with Python, R, and other languages.
Plugin/Extension Marketplace Supports third-party extensions to expand functionality.		No information available
Webhooks Triggers for external workflow automation or downstream alerts.		No information available
Custom Algorithm Integration Users can implement and deploy their own predictive algorithms.		Platform supports custom algorithm development and deployment for specialized needs.
Data Lake/Data Warehouse Integration Native support for major cloud/on-premise data stores.		Supports major cloud and on-premises data warehouse solutions as cited in integration docs.
Integration Latency Time delay for updates to be reflected across connected systems.		No information available

Horizontal Scaling Support Can add more computing resources to support increased workload.		Platform is horizontally scalable—shown in performance/technical info.
Elastic Scaling (cloud-native) Automatically expands/contracts compute resources as needed.		Elastic cloud-native deployment for auto-scaling is provided.
Multi-Tenancy Can securely support multiple teams or business units in one platform.		Multi-tenant architectures supported for enterprise insurers.
Processing Latency Average time to process data or generate a prediction.		No information available
Maximum Supported Dataset Size Largest dataset the platform can handle efficiently.		No information available
Uptime SLA Guaranteed platform availability.		No information available
Disaster Recovery Time Objective (RTO) Max time to restore after an outage.		No information available
Peak Concurrent User Count Maximum users supported during peak load.		No information available
Instantaneous Prediction Throughput Immediate predictions delivered per second.		No information available

Data Encryption (in transit & at rest) All data is encrypted both during transmission and when stored.		Data is encrypted in transit and at rest, as emphasized by GDPR/insurance compliance.
User Authentication & SSO Supports secure login and federated identity providers (Single Sign-On).		Supports SSO and secure authentication for all users.
Granular Permissions Fine control of feature/data access per user or group.		RBAC and granular access control described for sensitive insurance data.
Anonymization Tools Methods for removing or masking identifiable information before modeling.		Claims anonymization and masking features referenced in GDPR compliance documentation.
Security Certifications Compliance with standards such as ISO 27001, SOC 2, etc.		Complies with ISO 27001/SOC 2 (cited in security and procurement documentation).
Penetration Testing Frequency How often the system undergoes external security review.		No information available
Intrusion Detection & Monitoring Monitors platform for unusual or unauthorized activity.		Monitored for unusual activity (as per standard security procedure for SaaS actuarial platforms).
Data Loss Prevention (DLP) Systems and policies to prevent data exfiltration or leakage.		Data loss prevention is cited as part of the security policy.
Role-based Data Access Limits access to sensitive data based on user roles.		Role-based data access directly cited in compliance and security documentation.

User-friendly Interface Easy-to-navigate UI for actuaries and analysts.		Akur8 UI is marketed as intuitive and user-friendly for actuaries and pricing analysts.
In-app Tutorials Built-in walkthroughs and help guides for new users.		Onboarding provides interactive tutorials and step-by-step walkthroughs.
Searchable Knowledge Base Comprehensive library of support articles.		Knowledge base with search and FAQ provided as part of Akur8 support.
Onboarding Assistance Personalized onboarding training or webinars.		Personalized onboarding offerings and webinars for customer teams.
Dedicated Support Team Human support via chat, email, or phone.		Dedicated human support for clients is mentioned in marketing and case studies.
Community Forum Online community for user Q&A and sharing best practices.		Customer community and best practices sharing provided via online forums and events.
Multi-language Support Interface and help available in multiple languages.		No information available
Service Level Agreement (SLA) for Support Contractual commitment for response/resolution time.		No information available
Number of Supported Languages The number of user interface languages provided.		No information available

Transparent Pricing Model Upfront disclosure of all costs (user, data volume, computation, etc.).		Pricing is disclosed up front; transparent pricing is part of value proposition.
Pay-as-you-go Option Only pay for actual usage, scalable for variable needs.		Usage-based/pay-as-you-go pricing possible for cloud SaaS customers.
Enterprise Licensing Discounted, high-volume licensing available for large organizations.		Enterprise and volume-based licensing supported for major insurers.
Flexible User Licensing Licenses based on user types or concurrent users for cost optimization.		Flexible licensing (named user/concurrent user) available according to sales documentation.
Free Trial Availability Allows departments to try before committing.		Free trial or POC is available for departments evaluating the tool.
Migration Cost Estimation Tool Calculates anticipated costs for migrating to the platform.		No information available
Support Cost Tiering Offers multiple support levels at varying price points.		Support costs and service levels can be tiered by customer requirement.
Annual Pricing Increase Cap Limits on how much pricing can go up yearly.		No information available

Akur8 Pricing Platform from Akur8

Product analysis by function

Predictive Analytics Platforms for Actuarial Department

Data Integration & Management (8 Yes /8 Known /13 Possible features)

Modeling & Machine Learning (9 Yes /9 Known /12 Possible features)

Prediction & Forecasting (9 Yes /9 Known /10 Possible features)

Visualization & Reporting (9 Yes /9 Known /10 Possible features)

Governance, Risk, & Compliance (GRC) (6 Yes /6 Known /9 Possible features)

Collaboration & Workflow (8 Yes /8 Known /10 Possible features)

Integration & Extensibility (6 Yes /6 Known /9 Possible features)

Scalability & Performance (3 Yes /3 Known /9 Possible features)

Security & Privacy (8 Yes /8 Known /9 Possible features)

Usability & Support (6 Yes /6 Known /9 Possible features)

Cost & Licensing (6 Yes /6 Known /8 Possible features)