Baar, 21 May, 2024 – K2G, a leading provider of innovative solutions for insurers, is proud to announce its strategic partnership with Fadata, a global leader in insurance software solutions. This collaboration marks a significant milestone in revolutionizing pricing strategies for insurers, leveraging advanced AI-modelling and alternative data to drive profitability and sustainable growth.
In today's competitive insurance landscape, achieving sustainable growth while maintaining a profitable portfolio is paramount. However, traditional methods of risk assessment and pricing often fall short, leading to inefficiencies and missed opportunities for insurers.
Recognizing this challenge, K2G and Fadata have joined forces to introduce the K2G Box Solution, a groundbreaking offering designed to empower insurers with advanced AI-modelling capabilities for precise risk assessment and pricing strategies.
"At K2G, we are committed to empowering insurers with innovative solutions that drive profitability and growth," said Arina Man, CEO of K2G.
"Our partnership with Fadata represents a significant step forward in revolutionizing pricing strategies for insurers, enabling them to harness the power of AI and alternative data to optimize their portfolios."
The K2G Box Solution empowers insurers to create customized risk models using AI for deep portfolio segmentation. With over 100 years of collective expertise, K2G's team of data scientists, data engineers, and actuaries have integrated Neural Network methods into the solution, making AI-modelling as accessible as a formula in Excel.
Key benefits of the K2G Box Solution include:
- Customized risk calculation models for deep portfolio segmentation.
- Access to the K2G Data Lake with over 800 parameters for enriched datasets.
- Real-time personalized pricing correction recommendations and risk assessments for each policy.
"The K2G Box Solution represents a paradigm shift in risk assessment and pricing strategies for insurers," commented Arina Man, CEO of K2G.
"By leveraging advanced AI-modelling techniques, insurers can gain deeper insights into their portfolios and make data-driven decisions that drive profitability and growth."
“We are championing a community ethos, bringing together specialist technology leaders to provide insurers convenient and efficient access to the latest abilities and features that will take their business to the next level,” commented Neyko Bratoev, Head of Fadata Ecosystem.
“We are delighted to partner with K2G and welcome the benefits of the K2G Box Solution as we push forward with building a comprehensive pre-made enterprise solution that supports insurers to have a highly relevant and competitive business now and in the future.
The partnership between K2G and Fadata underscores a shared commitment to innovation and excellence in the insurance industry. By combining K2G's advanced AI-modelling capabilities with Fadata's industry-leading INSIS platform, insurers can navigate the complexities of pricing strategies with confidence and agility.
For more information about K2G and its partnership with Fadata, please visit k2g.ai.
About K2G:
K2G is a leading provider of innovative solutions for insurers. With a focus on leveraging advanced AI-modelling and alternative data, K2G empowers insurers to drive profitability and sustainable growth. Headquartered in Baar, Switzerland, K2G serves clients globally, helping them navigate the complexities of the insurance landscape.
About Fadata:
Fadata is a global leader in insurance software solutions, dedicated to empowering the insurance industry with cutting-edge technology. With a mission to drive customer engagement, innovation, and business value, Fadata serves clients in over 30 countries worlwide
