(From left): Akur8 chief client officer and co-founder Brune de Linares and Akur8 CEO and co-founder Samuel Falmagne. Credit: Akur8.

France-based insurance technology company Akur8 has raised $120m (€107.83m) in a Series C funding round led by One Peak.  

The round, which takes Akur8’s total raised investment to $180m, also saw participation from Partners Group and existing investor Guidewire Software. 

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Set up in 2018, Akur8 is engaged in offering AI-powered pricing solutions for the non-life insurance sector. 

The insurtech’s fully integrated and cloud-based platform is said to enable insurers to price with speed, directly impacting financial results and improving risk assessments. 

Akur8 plans to use the funding for research and development to enhance its insurance pricing platform with two new modules.  

The first, Optim, will allow insurers to identify the most effective pricing strategy to achieve their business goals, the company said.   

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The second, Deploy, is Akur8’s new rating engine designed to streamline the transition of pricing rates into production. 

The funding will also be used to drive growth through Akur8’s acquisition of Arius.  

By entering the insurance reserving sector, Akur8 aims to target new market segments and integrate reserving with pricing.  

Leveraging its expertise in software-as-a-service and AI, Akur8 seeks to expedite the development of the Akur8 Reserving platform. 

Another key focus of the funding is to accelerate global expansion.  

Beyond research and development, this investment will support Akur8’s strategic efforts to grow in critical markets, especially North America.  

Akur8 chief client officer and co-founder Brune de Linares said: ‍“This latest round of funding will empower us to better meet our customers’ evolving needs, enhance their operational efficiency and equip them with innovative tools to thrive in an increasingly competitive insurance landscape.” 

One Peak co-founder and managing partner Humbert de Liedekerke Beaufort said: “Akur8 offers a truly unique cloud-based, end-to-end actuarial platform, which leverages proprietary machine learning algorithms to inject speed and accuracy to insurers’ pricing process, whilst ensuring full transparency, auditability and control over the models created.  

“We have been particularly impressed by Akur8’s user-friendly interface, ease of deployment and reputation among the world’s leading insurers for its outstanding customer service.”