Fond du Lac, Wis.-based Society Insurance, a provider of commercial insurance to Wisconsin, Illinois, Iowa and Indiana, implemented Denver-based Valen Technologies Inc.’s UnderRight predictive analytics underwriting solution to improve its pricing strategies and profitability. Society is now using UnderRight for its workers’ compensation line of business to positively impact the company’s combined ratio by enabling improved underwriting decision consistency and efficiency.
“Valen’s UnderRight solution offers us the ability to price risks more accurately—the fundamental lever we need to continuously improve the growth and profitability of our business,” says Society’s COO Rick Parks. “In addition to providing us with much greater pricing power in the marketplace, we are now able to focus our experienced underwriters where they are most acutely needed—to analyze complex risks and provide an even higher level of service to our independent agents.”
