Capital Insurance Group has announced the implementation of Valen Analytics’ Predict and Manage apps for improved underwriting.
The applications, part of Valen’s InsureRight platform, allow insurers to more accurately price risks, and meet the needs of its independent agents, according to the company. Valen’s Predict app will oversee individual policy risk selection and automate pricing decisions for the P&C insurer while Manage offers indicators of overall performance.
“We required a more efficient and accurate means of assessing risk,” said Andrew Doll, vice president and chief actuary of CIG. “Valen provided us with a solution that accomplished what we needed, and their analytic ability and turn-key deployment technology provided us much quicker speed to market than if we had done this on our own. Within six months, we had a model developed and a system operational hitting all timelines established at the start of the project.”
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