Agencyport’s Integration Kit for Valen product accelerates and focuses workers’ compensation underwriting process
Boston, MA – May 15, 2015 – Agencyport Software, provider of distribution software and services to the P&C insurance industry, and Valen Analytics, provider of proprietary data, analytics and predictive modeling to the industry, announced today that mutual customer, Baldwin & Lyons, will integrate solutions from each vendor to help control losses and improve the quality of business it chooses to write.
A commercial P&C insurer specializing in the transportation industry, Baldwin & Lyons has licensed Agencyport’s web distribution solution, AgencyPortal®, for its independent agents since 2010—first for commercial auto lines and later, workers’ compensation. In preparation for expansion into new territories, the carrier recently committed to adding additional analytical capabilities to its underwriting process with the goal of becoming more selective in the workers’ compensation business that it writes through its subsidiary, Sagamore Insurance Company. Baldwin & Lyons selected Valen’s InsureRight Platform predictive analytics solution, giving its underwriters insight into potential risks associated with workers’ compensation policies. Using one of Agencyport’s new software Integration Kits (sets of pre-built software components and documentation that simplify and de-risk integration of AgencyPortal and other major industry solutions—in this case, InsureRight), Baldwin & Lyons can now access Valen’s capabilities directly from within AgencyPortal, improving and streamlining the underwriting process.
Agents will continue to enter new business requests into Baldwin & Lyons’ AgencyPortal, which handles all agents/underwriter transactions through a quick quote stage. If an application reaches a full quote status, Baldwin & Lyons underwriters will now have the option to run the submission through Valen scoring by making a call to InsureRight directly from within AgencyPortal—with all of the data within AgencyPortal going directly to Valen. If the underwriter ultimately approves the business, it can then be bound by the agent within AgencyPortal.
“The synergies between and complementary capabilities of AgencyPortal and InsureRight will accelerate, improve and focus our underwriting process,” said Randy Birchfield, Executive Vice President of Sales and Underwriting at Baldwin & Lyons. “The fact that the two solutions can be integrated with minimal time and cost, thanks to Agencyport’s Valen Integration Kit, is icing on the cake.”
“Agencyport is committed to helping P&C insurers integrate with their key partners and third party providers as quickly, easily and inexpensively as possible,” said Curt Stevenson, CEO of Agencyport. “Our growing roster of Integration Kits, including those for Guidewire, Lexis/Nexis, and Valen Analytics, are products of that philosophy.”
“Since our partnership with Agencyport formed in 2014, we’ve been excited about what it could mean for our shared customers,” said Dax Craig, CEO and President at Valen. “It’s great to see the value at work at Baldwin & Lyons.”
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Agencyport Software lets P&C insurers engage simply and quickly with their product distribution channels and technology partners. We offer the world’s leading web-based distribution technologies and robust business intelligence tools—making the complex business of insurance simpler and smarter, increasing efficiency, improving underwriting, and sharpening carriers’ competitive edge.
About Valen Analytics
Valen Analytics is an advanced data and analytics provider for property and casualty insurance companies. We work with insurers who are actively looking to improve underwriting profits by driving growth and/or lowering their loss ratio. Our customers are focused on increasing competitive pressures, fighting adverse selection with innovative solutions, and raising awareness for the impending “experience gap” in underwriting with initiatives such as Tomorrow’s Talent Challenge. Our customers span many lines of business including Homeowners, Workers’ Compensation, Commercial Auto and Telematics, Commercial Package, Commercial Property, and BOP. Learn more about Valen at www.valen.com.
About Baldwin & Lyons
Since its founding in 1930, Baldwin & Lyons, Inc. has specialized in marketing and underwriting insurance for the transportation industry. Today, Baldwin is a diversified holding company with seven different operating entities within its structure.