New Customer Utilizes Valen’s InsureRight® Platform, Focusing on Risk Selection and Pricing to Improve Profitability
DENVER – July 22, 2014 – Valen Analytics, a provider of proprietary data, analytics and predictive modeling to help insurers manage and drive underwriting profitability, has announced a new customer engagement with Baldwin & Lyons, a property casualty insurer for large and medium-sized trucking and public transportation fleets, and a provider of workers’ compensation for businesses of all types. As a new customer, Baldwin & Lyons will use the Predict application in Valen’s InsureRight Platform to provide underwriters greater insight into the potential risk associated with workers’ compensation policies.
Baldwin & Lyons selected Valen’s InsureRight Platform to assist in their upcoming initiative to extend business into new territories and utilize a more focused approach to underwriting. As a Valen customer, Baldwin & Lyons will be able to price policies with greater confidence by leveraging the largest and most robust data consortium in workers’ compensation.
“We recognize the benefits that Valen’s predictive models will provide us as we broaden our risk appetite and expand into new states,” said John Mitchell, SVP of Underwriting. “As a growing business, we recognize the need to take a more focused and consistent approach in our underwriting, utilizing more data than just our own to help manage risks in areas where our data is limited.”
“One of the biggest challenges insurers face today is growing into new segments while maintaining an underwriting profit,” said Dax Craig, CEO of Valen Analytics. “We are thrilled to be working with Baldwin & Lyons to help them gain confidence in new geographical areas and across different class codes. There is an opportunity to be profitable everywhere, if you have the right tools and access to actionable data on your side.”
The InsureRight Platform offers comprehensive portfolio management capabilities and transactional model deployment for risk selection and pricing accuracy. More information can be found online at www.valen.com.
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 & Telematics, Commercial Package, Commercial Property, and BOP. Learn more about Valen at www.valen.com.
About Baldwin & Lyons
Baldwin & Lyons, Inc., based in Carmel, Ind., is a specialty property casualty insurer with a leading position in providing liability coverage for large and medium-sized trucking and public transportation fleets as well as coverages for trucking industry independent contractors. Additionally, the company’s product offerings include coverage for private passenger auto, small fleet trucking and professional liability as well as workers’ compensation for businesses and property and casualty reinsurance assumed.
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