October 9, 2019
DENVER–(BUSINESS WIRE)–Insurity Valen Analytics®, a leading provider of proprietary data, analytics, and predictive modeling for P/C insurers, today announced that Glatfelter Insurance Group, one of the largest program managers and insurance brokers in the United States, will leverage the Valen Analytics InsureRight platform and advanced data and analytics capabilities for their Commercial Auto line, as part of their improved underwriting efficiency and risk assessment initiative for their program business.
Valen Analytics’ custom-built models, based on the $6.4B of commercial auto premium in the Valen Data Consortium which is hosted on the InsureRight platform, generate highly predictive scores that enable valuable insights into risk selection and pricing. Glatfelter will use these insights to improve transactional efficiency and loss ratio, while significantly streamlining the application process by leveraging straight-through processing.
“With Valen Analytics’ proven data and analytics expertise, we look forward to more accurately identifying profitable vs. unprofitable segments of our program business, leading to improved risk selection and pricing differentiation from one risk to the next,” said Jim Partridge, President of Insurance Company Operations at Glatfelter. “We are excited to see improvement in our Commercial Auto line driven by analytics-powered automation.”
“Actionable intelligence drives growth and profitability,” explained Kirstin Marr, President at of Insurity Valen Analytics. “That’s what enables our clients to deliver modern, streamlined customer experiences, while also ensuring risk-appropriate pricing. We are honored to partner with Glatfelter as they continue to evolve their data-driven approach with increasing sophistication and accuracy in risk assessment.”
The InsureRight platform is purpose-built for the property and casualty insurance industry. For more information, visit www.valen.com.
About Insurity Valen Analytics
Insurity Valen Analytics, provides proprietary data, analytics and predictive modeling for property and casualty insurers. We work with insurers who are actively looking to utilize modern approaches to pricing, risk selection, claims triage, and premium fraud. Our customers are focused on increasing competitive pressures, fighting adverse selection with innovative solutions, and raising awareness for the impending “experience gap” with initiatives such as Insurance Careers Movement. Our customers span many lines of business including Homeowners, Personal Auto, Workers’ Compensation,Commercial Auto, Commercial Package, Commercial Property, and BOP. Valen integrates with several Insurity products and solutions, including DataHouse and Policy Decisions platforms, enabling improved data management and data-driven decision making. Learn more about Valen at www.valen.com.
Insurity is a leading provider of cloud-based solutions and data analytics for the world’s largest insurers, brokers, and MGAs. Through its best-in-class digital platform and with unrivaled industry experience, Insurity empowers clients to focus on their core businesses, optimize their operations, and deliver superior customer experiences. With users worldwide and more cloud-based deployments than any other core system provider in the insurtech space, Insurity is trusted by 15 of the top 25 property/casualty carriers in the US. For more information, visit www.insurity.com.