Valen Analytics®, a provider of proprietary data, analytics and predictive modeling for P/C insurers, today announces a new customer engagement with New Mexico Mutual, the state’s largest writer of workers’ compensation insurance. The carrier will utilize the Predict application of Valen’s InsureRight® Platform, enabling better underwriting performance and efficiency.
“As an analytically-driven organization, we are continually looking for ways to improve our underwriting performance and believe the InsureRight Platform will assist our decision-making when it comes to pricing and risk decisions,” said Lou Volk, Vice President and Chief Business Offer for New Mexico Mutual. “Valen is a known leader in helping insurers combine predictive analytics with underwriting expertise, and we believe they are the right partner to help us achieve our goals for the continued benefit of our policyholders and agency partners.”
Valen’s custom-built predictive model for New Mexico Mutual is hosted on the InsureRight Platform and powered by Valen’s contributory database, which represents the largest and most robust data consortium specifically built for predictive analytics. By providing policy information at the point of decision, underwriters will not only have increased visibility into risks, but also improve their ability to respond to agent requests and service policyholders much faster.
“Predictive analytics are imperative to an underwriter’s toolkit, and we continually see more carriers recognize its importance for success,” said Dax Craig, CEO of Valen Analytics. “We applaud New Mexico Mutual’s commitment to agents and policyholders by taking a modern approach to real-time decision support from implementing advanced analytics.”
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 Movement. 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 New Mexico Mutual
New Mexico Mutual is the largest writer of workers’ compensation insurance in New Mexico, providing quality, cost-effective workers’ compensation insurance to New Mexico businesses. Created in 1991, New Mexico Mutual provides workers’ compensation insurance for more than 7,000 New Mexico businesses. The company provides extensive safety services and claims management for its policyholders. For more information, visit www.nmmcc.com.