Capital Insurance Group Selects Valen Analytics to Strengthen Underwriting Performance for Personal Auto Insurance

New Customer Adopts Predict and Manage Applications of Valen’s InsureRight Platform

DENVER – March 4, 2016 – Valen Analytics®, a provider of proprietary data, analytics and predictive modeling for property and casualty insurers, today announced a new customer engagement with Capital Insurance Group® (CIG), the leading regional property and casualty insurer serving the Western U.S. since 1898. CIG will be implementing the Predict and Manage applications of Valen’s InsureRight® Platform.

By implementing predictive analytics into pricing and underwriting, insurers are able to more accurately price risks, and better meet the needs of its independent agents. The Predict application gives companies the confidence to automate many pricing decisions and deliver faster response times to agents.

“Capital Insurance Group has enjoyed a long period of success through profitable growth, but in this changing insurance environment, we need more than just good relationships to maintain our competitive edge. We required a more efficient and accurate means of assessing risk,” said Andrew Doll, Vice President and Chief Actuary of CIG. ”Valen provided us with a solution that accomplished what we needed, and their analytic ability and turn-key deployment technology provided us much quicker speed to market than if we had done this on our own. Within six months, we had a model developed and a system operational hitting all timelines established at the start of the project.”

The InsureRight Platform insulates insurers from the effects of adverse selection, which occurs when a competitor undercuts the incumbent’s pricing on the best risks and avoids writing poor performing risks at inadequate prices. The Predict application serves individual policy risk selection and pricing decisions, while the Manage application provides leading indicators of overall performance, so insurers can positively manage their portfolio and underwriting results.

“We applaud CIG’s commitment to strengthening their underwriting performance,” said Dax Craig, CEO of Valen Analytics. “Personal lines was the first line of P/C insurance to face market share consolidation as a result of analytics, and the only way to stay competitive in this kind of environment is to ensure you’re using data-driven tools.”

More information about the InsureRight Platform can be found online at www.valen.com.

 

About Valen Analytics

Valen Analytics is a provider of 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 Month. Our customers span many lines of business including Homeowners, Personal Auto, Workers’ Compensation, Commercial Auto, Commercial Package, Commercial Property, and BOP. Learn more about Valen at www.valen.com.

 

About Capital Insurance Group
Capital Insurance Group® (CIG) is the leading regional property and casualty insurer serving the Western U.S. since 1898. CIG insures Personal Auto, Homeowners, Farmowners, Condo Owners, Vacation Property, Renters, Apartment Building Owners, and many kinds of Commercial and Agricultural Auto and Property. The more-than-115-year-old company is rated “A” (Excellent) by A.M. Best, the independent financial monitor of the insurance industry. CIG manages personal, business, and agriculture risks underwritten by its affiliate companies: California Capital Insurance Company, Eagle West Insurance Company, Nevada Capital Insurance Company, and Monterey Insurance Company. Types of policies may vary from state to state. For more information, please visit www.CIGinsurance.com.

 

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Fehmida Bholat

Fusion PR on behalf of Valen Analytics

fehmida.bholat@fusionpr.com

310.481.1431, Ext. 17