Valen Analytics®, an Insurity company, and provider of proprietary data, analytics, and predictive modeling for P/C insurers, today announced the latest product in its suite of solutions with the launch of InsureRight Automate™. With this new addition, Valen leverages its deep understanding of data and ability to glean the most predictive insights, translating insurers’ automation goals into reality.
Insurers are increasingly looking to minimize human touchpoints and automate portions of the underwriting process. In doing so, insurers can allocate their employees’ expertise to more complex tasks, minimizing costs and maximizing efficiency. However, only 11%i have mature straight-through processing. Valen’s InsureRight Automate solution helps insurers achieve their business automation goals and begin realizing the benefits of straight-through processing.
Valen works as a partner throughout the client’s entire automation process by monitoring the performance of models and new workflows in real-time, measuring results against business goals, and making adjustments as needed. With a proven framework, proprietary software platform, and more than 15 years of experience driving data-driven success, Valen is uniquely positioned to help insurers address their automation dilemma.
“This is an elegant way to help insurers capitalize on the highly competitive small commercial market, where speed and efficiency matter as much as accurate pricing,” said Kirstin Marr, president at Valen Analytics. “Automating the underwriting process allows insurers to reduce expense ratios and grow top-line revenue, while maximizing resource allocation and the expertise of their highly trained underwriters.”
About Valen Analytics
Valen Analytics, an Insurity company, provides proprietary data, analytics and predictive modeling for property and casualty insurers. We work with insurers who are actively looking to utilize modern approaches to pricing, risk selection, claims triage, and premium fraud. Our customers are focused on increasing competitive pressures, leveraging data-driven decision making to build innovative solutions, and bringing new perspectives and talents to the industry with initiatives such as Insurance Careers Movement. Our customers span many lines of business including Homeowners, Personal Auto, Workers’ Compensation, Commercial Auto, Commercial Package and BOP. Valen integrates with several Insurity products and solutions, including DataHouse and Policy Decisions platforms, enabling improved data management and real-time decision making. Learn more about Valen at www.valen.com.
Insurity is a leading provider of cloud-based solutions and data analytics for the world’s largest insurers, brokers, and MGAs. Through its best-in-class digital platform and with unrivaled industry experience, Insurity empowers clients to focus on their core businesses, optimize their operations, and deliver superior customer experiences. With users worldwide and more cloud-based deployments than any other core system provider in the insurtech space, Insurity is trusted by 15 of the top 25 property/casualty carriers in the US. For more information, visit www.insurity.com.
i Source: Novarica Survey of Insurer CIOs, 2018 Q2