Workers' compensation insurer AmFed has selected Valen Analytics' Predict application for underwriting.
AmFed will use the software to provide its underwriters with better visibility into risk selection and pricing.
"We decided that in order to remain competitive in the current insurance environment, we needed a robust predictive analytics tool to help our underwriters analyze risk and project the potential profit,” said Billy Roberts, president and CEO of AmFed. “This was a big investment for us, but we are confident that by partnering with Valen, we can bring our customers even greater value and help us identify the right opportunities in states we are not currently writing coverage.”
Installation of the software took 45 days following the contract signing, the companies said.
