Stonetrust Commercial Insurance Co., a provider of workers’ compensation and employers’ liability insurance, has deployed a data analytics and predictive modeling platform from Valen Analytics to improve underwriting precision.
The insurer will use the Manage and Predict applications in Valen’s InsureRight Platform to gain a more complete perspective on the potential risk associated with workers’ compensation policies.
“The commercial lines industry is becoming increasingly complex and competitive due to underwriting profits being at the top of corporate priorities,” said Sukhy Dhillon, CIO of Stonetrust. “Our increased focus on objective criteria for risk selection, pricing in underwriting, and utilizing tools like InsureRight will help us to grow profitably.”
Predict gives underwriters the ability to analyze individual policies with greater accuracy. Manage provides insurers with a forward-looking assessment of their portfolio’s risk quality, allowing them to quantify and forecast profitable segments of the market to pursue.
In addition, Valen’s latest Risk Score gives Stonetrust the ability to analyze historically loss-free polices for increased accuracy in underwriting.
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