Akur8 acquires Arius

Insurance pricing solution provider Akur8 announced its acquisition of Arius, a P&C reserving software for insurers and reinsurers owned by Milliman. As part of the transaction, Milliman increased its equity interest in Akur8.

The Arius software helps insurers manage risk and improve financial performance by analyzing casualty insurance reserves and estimating future loss costs. It is used by 150 insurance and consulting clients with over 1,500 users, and more than one third of these clients are top-tier carriers in the US and Canada.

“The insurance industry faces increasingly complex challenges, necessitating advanced solutions. Actuaries and insurance professionals must navigate changing regulatory environments and ensure accurate reserving while managing risk and maintaining profitability. The Arius acquisition effectively addresses these concerns and is a significant milestone for Akur8. It strengthens our market standing, expands our product portfolio and customer base, and reinforces our strong relationship with Milliman. Our ultimate vision is a fully integrated, next generation pricing and reserving platform that redefines actuarial best practices and combines the strengths of both Akur8 pricing and Arius, providing a best-in-class, comprehensive platform that elevates business performance and competitiveness. We are delighted to welcome the Arius team to the Akur8 family and know that together we will deliver even greater value to our clients.” – Samuel Falmagne, CEO at Akur8.

“This acquisition combines Arius’s strength in reserving with Akur8’s cutting-edge approach to pricing, empowering us to deliver more comprehensive and forward-thinking solutions to our clients. Together, we can drive significant advancements in the actuarial field and better meet the evolving needs of insurers worldwide.” – Ken Scalf, Principal, P&C Insurance Software Solution at Arius.

“Joining forces with Akur8 enables Arius to benefit from their SaaS and AI expertise, accelerating our product development and driving greater innovation for our clients. We’re excited to embark on this new chapter together.” – Charles Hoffman, Principal & Director of Software Development at Arius.

“We have been working with Akur8 for five years as they have developed their pricing tool, and over the course of that collaboration we recognized a significant opportunity for Arius to be paired with Akur8’s pricing software. This is a natural extension of Milliman’s existing relationship with Akur8 and should result in benefits for our shared clients. We are particularly grateful for the contributions of our Arius colleagues and wish them the best of luck as part of Akur8’s impressive team.” – Dermot Corry, CEO at Milliman.