I’m thrilled to sit down with Nicholas Braiden, a pioneering figure in FinTech with a deep-rooted passion for leveraging technology to revolutionize industries. As an early adopter of blockchain and a trusted advisor to startups, Nicholas has spent years championing the transformative power of financial technology in digital payments and lending systems. Today, we’re diving into the insurance tech space, specifically exploring Akur8’s groundbreaking launch of Rate Repo and Deploy. Our conversation will touch on how these tools are reshaping insurance pricing, enhancing collaboration, ensuring regulatory compliance, and streamlining workflows for actuaries, all while pushing the boundaries of innovation in the industry.
Can you start by sharing your perspective on Akur8’s mission and how the introduction of Rate Repo and Deploy aligns with their broader goals for the insurance industry?
Absolutely. Akur8’s mission is centered on transforming insurance pricing and reserving through transparent, cutting-edge technology. They aim to empower actuaries with tools that cover the entire pricing lifecycle, from data analysis to deployment. Rate Repo and Deploy are pivotal in this vision because they address critical pain points—managing complex rate calculations and moving models into live production seamlessly. These tools not only enhance efficiency but also ensure transparency and governance, aligning perfectly with Akur8’s goal of being the go-to end-to-end actuarial platform.
How would you describe Rate Repo, and in what ways does it simplify the management of intricate rate calculations across various states and business lines?
Rate Repo is essentially a centralized hub for rate management—a regulatory-ready repository that acts as a single source of truth for actuaries. It streamlines the handling of complex rate order calculations by organizing them across different states, entities, and lines of business. With features like versioning, simulation, and documentation, it ensures consistency and accuracy in rating plans. This kind of centralized approach cuts down on errors and makes audits much smoother, which is a huge win for insurers dealing with diverse portfolios.
What sets Deploy apart as a pricing engine, and how does it make the transition of rates into live production more efficient?
Deploy stands out because it’s a fully integrated, cloud-based pricing engine designed for speed and control. Unlike other engines, it allows insurers to import rate plans in minutes, deploy them in seconds, and quote in milliseconds. This rapid turnaround, supported by a responsive API that connects directly to policy administration systems, means insurers can execute pricing strategies almost in real time. It eliminates the bottlenecks often seen in traditional systems, giving insurers the agility to respond to market changes instantly.
Can you elaborate on how Rate Repo and Deploy integrate with Akur8’s existing suite of tools to create a cohesive workflow for actuaries?
Rate Repo and Deploy work hand-in-hand with Akur8’s core solutions like Data, Risk, Demand, and Rate to form a unified workflow. From building models with data and risk analysis to testing demand scenarios and finalizing rates, these tools cover every step of the pricing lifecycle. Rate Repo ensures all rate plans are stored and managed with governance in mind, while Deploy takes those plans straight into production. Together, they remove silos, reduce manual errors, and let actuaries focus on strategy rather than repetitive tasks.
Why do you think the launch of these features marks such a significant milestone for the insurance pricing industry?
This launch is a game-changer because it moves the industry beyond just model-building to a fully connected pricing ecosystem. Historically, actuaries have struggled with fragmented tools that don’t talk to each other, leading to inefficiencies and compliance risks. Rate Repo and Deploy bridge those gaps by offering a platform that’s fast, transparent, and regulator-ready. It’s not just about technology—it’s about empowering insurers to align actuarial work with business goals, which is a huge leap forward in how pricing decisions impact overall strategy.
How do these tools foster better collaboration and governance within insurance companies?
Rate Repo and Deploy are built to connect different teams—actuarial, IT, and compliance—under one platform. Rate Repo’s centralized system ensures everyone is working from the same data, with clear versioning and audit trails that make governance straightforward. Deploy, on the other hand, ties actuarial outputs to operational deployment, so strategic decisions are reflected in real-time pricing. For example, when a new rate plan is approved, it can be deployed instantly with full transparency, ensuring that leadership and actuaries are always on the same page.
What can you tell us about the user experience with Rate Repo and Deploy, and how does Akur8 support clients in adopting these tools?
Akur8 prioritizes user experience by designing intuitive interfaces and backing their tech with hands-on support. Rate Repo and Deploy are easy to navigate, with features like simulation and audit logs built right in. What really stands out is their live actuarial team, available on demand to help clients with everything from onboarding to troubleshooting. This kind of support is crucial because it builds confidence in the technology and ensures that insurers can maximize the tools’ potential without a steep learning curve.
With Akur8 showcasing these tools at InsureTech Connect Vegas 2025, what insights or takeaways can attendees expect from the breakout session on connected pricing?
Attendees at ITC Vegas 2025 will get a front-row seat to how Rate Repo and Deploy revolutionize pricing from model build to deployment. The breakout session, titled ‘Connected Pricing in Action,’ will likely dive into real-world examples of how these tools deliver speed, transparency, and control. They’ll see demonstrations of importing and deploying rates in record time, and learn how these solutions integrate with existing systems. It’s a chance to understand not just the ‘what’ but the ‘how’ of transforming pricing operations.
Looking ahead, what is your forecast for the future of insurance pricing technology with innovations like Rate Repo and Deploy leading the way?
I’m incredibly optimistic about the future of insurance pricing tech. Tools like Rate Repo and Deploy are setting a new benchmark for what’s possible—they’re proving that end-to-end platforms can deliver speed without sacrificing governance or accuracy. I foresee a shift where insurers increasingly adopt integrated solutions that break down silos and prioritize real-time decision-making. We’ll likely see more AI and machine learning woven into these platforms, further enhancing predictive capabilities and personalization in pricing. It’s an exciting time, and I believe we’re just at the beginning of a major transformation in how insurers operate.