Release Date: Aug-20-2013
New Customer Taps into Valen’s Predictive Analytics Solution for Workers’ Compensation
DENVER – August 20, 2013 – Valen Analytics, a provider of proprietary data, analytics and predictive modeling to help insurance carriers manage and drive underwriting profitability, has announced a new customer engagement with Dallas National Insurance Company, a leading property and casualty insurance company that focuses on the construction industry in the United States. As a new customer, Dallas National will utilize both the Manage and Predict features of Valen’s InsureRight Platform to make predictive analytics more accessible to underwriters and to provide more insight into the potential risk associated with workers’ compensation policies.
“We applaud Dallas National’s commitment to provide a consistent framework for their underwriting team,” said Dax Craig, President and CEO of Valen Analytics. “Being able to identify pricing inadequacies and redundancies is the key to increasing profitability.”
Supported by Valen’s contributory database of 20 million policies, the InsureRight Platform continues to be recognized as an industry standard, and has seen tremendous momentum in the workers’ compensation industry. By combining predictive modeling, industry data, portfolio management, and business intelligence tools, this full-featured solution will help underwriters, managers, and executives take specific actions to improve their overall risk quality.
The InsureRight Platform is made up of two components — Manage and Predict . By adopting Manage, Dallas National will gain access to information on current pricing and risk analysis, enabling the management team to be more informed with real-time data. Meanwhile, Predict empowers underwriters with enhanced visibility into individual risks as they interact with predictive scores. Dallas National is confident that the InsureRight Platform will provide valuable fine-tuning in developing their underwriters’ knowledge and skills, while giving them access to data they cannot find anywhere else.
“We understand that using analytics is an important competitive advantage, especially within a difficult line of business such as workers’ compensation,” said Stephen Su, the Chief Underwriting Officer at Dallas National. “Valen’s quick implementation of its InsureRight Platform allows us to make an immediate positive impact on our underwriting.”
Currently available, the InsureRight Platform offers comprehensive portfolio management capabilities and transactional model deployment for risk selection and pricing accuracy. More information can be found online at 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.
About Dallas National Insurance Company
Dallas National Insurance Company operates as a property and casualty insurance company that focuses on the construction industry in the United States. It offers general liability insurance coverage to artisan contractors, home builders, retailers, landscapers, janitorial service providers, and residential and commercial contractors. Dallas National Insurance Company was formerly known as California Indemnity Insurance Company and changed its name to Dallas National Insurance Company in December 2005. The company was incorporated in 1988 and is based in Dallas, Texas. Dallas National Insurance Company is a former subsidiary of Folksamerica Holding Company, Inc. and Sierra Health Services, Inc. For more information, please visit www.dallasnationalins.com.