Care West Insurance Co., a workers’ compensation company, will be using the Predict component of the InsureRight Platform from Valen Analytics in its underwriting practices.
Valen says Predict provides underwriters with access to predictive scores and context for how policies are scored. In doing so, according to Valen, this should enable improved risk selection and pricing accuracy. This is designed to provide an understanding of risk, new business quotes in existing segments, and support to Care West’s growth initiative into new areas.
The InsureRight Platform unites predictive modeling, industry data, portfolio management and business intelligence tools that allow carriers to proactively spot trends in their in-force books, says Valen. Valen’s Analytics database includes more than 20 million policies scored using predictive models, presenting an industry standard platform built to help carriers achieve underwriting profitability.
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