With Akur8, let’s give superpowers to insurance actuaries!

Akur8 is our first (disclosed) investment of 2020. We are glad to lead this €8m Series A and be joined by US insurtech-focused fund MTech Capital.

Akur8 is the result of 4 years of R&D within startup studio Kamet Ventures. The P&C (car, home, etc.) and health insurance industries are facing increasing competition (from direct players, banks and insurtechs), higher price transparency (thanks to comparators) and recently got access to new data sources to assess risk. Current solutions to build risk models tend to be very manual and long — a typical risk model takes up to twelve months to be built and requires a lot of repetitive tasks from very qualified actuaries.

Why is Akur8 a game-changer? Actuaries can now build risk models 10x faster! With increased predictive power! Most of the repetitive tasks are automatedmore variables can be tested and the model will ultimately comply with regulatory requirements.

The market opportunity is huge. The company’s risk modeling tool is already used by clients in Europe and North & South America. And hopefully soon by a good share of the 2,300 insurers in Europe and 2,600 in the US!

The company is led by its founders, Samuel Falmagne (CEO) and Guillaume Beraud-Sudreau (Head of R&D and Chief Actuary), who are both very familiar with the ecosystem of insurance, insurtech and risk modeling, along with top managers Anne-Laure, Brune and Jean-MarcThe team is completed by 20 amazing data scientists, software developers, and sales execs!

You want to join them in this journey? They are hiring!

These €8m will be used to boost the commercial efforts, open a US office, and grow the tech team.

Congratulations on these achievements, and welcome to the family!