It’s easy to get swept up in the overwhelming evidence and scientific proof that data-driven decisions produce superior results. While true, it’s also important to remember that while technology is an enabler, it is humans that generate actual results. Valen recently launched a new website where we provide easy access to our proprietary research findings that prove that despite how important data is to making decisions, a predictive analytics platform performs best when combined with underwriter expertise.
In addition, we’ve also compiled the following toolkit:
- Pricing: Underwriters used to have limited information on which to base decisions. The rules of the game are changing, however, with ever-increasing amounts of data and an increasing demand for faster quotes. Studies show that the quote-to-bind ratio drops 40+% if your underwriter can’t respond within 24 hours, so how can they compete and still get the price right if they aren’t armed with the latest technologies?
- Risk Selection: If you could improve performance by simply cutting out entire segments of the market, everyone would do it. However, the reality is that there are good and bad policies in every segment of the market, and your underwriters need the tools to help make that determination.
- Premium Fraud: Payroll misclassification happens for many reasons, from outright fraud to inadvertent error. Whatever the reason may be, it costs the insurance industry billions of dollars.
- Results: Investments require a solid return, and Valen’s customers are beating the market. We’ve built a robust technology platform and set of services that keep the burden light on teams and make the implementation process seamless.
- Industry News: There is a lot of insurance industry news out there, so we do the legwork for you. We cherry pick the news that is the most impactful to your business today, from news of disruption, to technology, to rates, and more.
- Resources: We practice what we preach and truly believe that predictive analytics perform best when combined with human expertise. That’s why we work with some of the best leaders in our industry, and why we share our findings with you.
Whether you are just beginning your analytics journey or you are well-versed and simply looking to hone your understanding, check out our new site and subscribe to our blog to stay up-to-date on industry thought leadership and news.
ABOUT THE AUTHOR:
Kirstin Marr is the chief brand advocate for Valen Analytics, paving the way for prospective clients to lead the innovation initiatives required to compete in today’s marketplace. She has a passion for building companies that invent leading-edge technologies to improve customers’ lives and solve the inefficiencies that exist in many traditional marketplaces. Kirstin also has a long-standing commitment to philanthropy and community leadership. She was most recently Board President for Colorado MESA, a non-profit that serves underrepresented and economically disadvantaged students to graduate from college and successfully pursue careers in Science, Technology, Engineering and Mathematics (STEM). She also co-founded a non-profit to benefit the Teen Lounge at Children’s Hospital Colorado.