Release Date: Oct-09-2013
Valen’s “Manage” Provides Insurance Executives with Comprehensive Portfolio Insights for Homeowners Line
DENVER – October 9, 2013 – Valen Analytics, a provider of proprietary data, analytics and predictive modeling to help insurance carriers manage and drive underwriting profitability, today announced the availability of Manage within the InsureRight Platform for homeowners carriers. Manage allows insurers to leverage leading indicators of risk to understand portfolio performance overall, and within segments, to better inform strategic decisions and achieve underwriting profitability.
InsureRight Platform consists of two components, Manage and Predict . Manage is a portfolio management tool and Predict is a risk selection tool. The Manage component of the InsureRight Platform merges Valen’s proprietary Condition Hazard Score and Insurance-to-Value (ITV) Score, available through the Predict feature of the product, with consortium data to deliver proprietary portfolio insights. These insights will help insurers determine if their business is headed in a profitable direction and enable a proactive approach to adjust business strategy.
“ Manage presents a powerful competitive advantage for homeowners carriers,” said Dax Craig, President and CEO of Valen Analytics. “Using advanced data and analytics, carriers will gain statistically valid portfolio insights to expose strengths and weaknesses within their own book of business, and ultimately chart a path toward profitability in this historically poor performing line of insurance.”
Carriers of all sizes can now take advantage of a wide breadth of features to access and analyze their own data:
The InsureRight Platform offers the flexibility that carriers need to incorporate predictive scores within underwriting, which allows for more visibility to understand adoption and better assess model and portfolio performance.
InsureRight for Homeowners is available now. More information can be found online at http://www.valen.com.
About Valen Analytics
ValenAnalyticshelps carriers manage and segment their portfolios in order to drive underwriting profitability. Valen’s InsureRight Platform is the only solution with proprietary insight into portfolio metrics and risk characteristics to identify pockets of pricing inadequacy and redundancy. A dynamic portfolio management tool provides access to Valen’s contributory database containing policy level analysis not available elsewhere. The Valen contributory database is anonymized and has scored over 20 million policies using robust predictive models in Homeowners, Workers’ Compensation, Commercial Auto, Telematics, Commercial Package, and BOP. Learn more about Valen at www.valen.com.