New Customer Adopts both Predict and Manage Function of Valen’s Underwriting Solution;
Able to Analyze Historically Loss Free Policies
DENVER – January 13, 2015 – Valen Analytics, a provider of proprietary data, analytics and predictive modeling to help insurers manage and drive underwriting profitability, today announced a new customer engagement with Stonetrust Commercial Insurance Company, a Louisiana-based insurer providing workers’ compensation and employers’ liability insurance. Stonetrust will utilize the Manage and Predict applications in Valen’s InsureRight Platform for a complete perspective on the potential risk associated with workers’ compensation policies.
“The commercial lines industry is becoming increasingly complex and competitive due to underwriting profits being at the top of corporate priorities. Our increased focus on objective criteria for risk selection, pricing in underwriting, and utilizing tools like InsureRight will help us to grow profitably,” said Sukhy Dhillon, CIO of Stonetrust. “We are thrilled to be working with Valen, who understands our business goals and delivers the precise, real-time information we need to gain a competitive edge.”
InsureRight Platform is powered by Valen’s contributory database, which represents the largest and most robust data consortium specifically built for predictive analytics. Predict gives underwriters the ability to analyze individual policies with superior accuracy. Manage provides insurers with a forward-looking assessment of their portfolio’s risk quality, allowing them to quantify and forecast profitable segments of the market to pursue. Additionally, Valen’s latest Risk Score gives Stonetrust the unique ability to analyze historically loss-free polices for increased accuracy in underwriting.
“By tapping into our new Risk Score, Stonetrust is one of the first to be able to accurately price loss-free policies, which represents a new frontier in pricing and risk selection,” said Dax Craig, CEO and President of Valen Analytics. “By coupling this level of underwriting accuracy with the ability to analyze their position in the commercial lines market, Stonetrust is in a great position to utilize the full value of analytics in underwriting.”
More information about the InsureRight Platform 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 and Telematics, Commercial Package, Commercial Property, and BOP. Learn more about Valen at www.valen.com.
About Stonetrust Commercial Insurance Company
At Stonetrust Commercial Insurance Company, it is our mission to be a professional and capable partner to our policyholders and producers while providing workers’ compensation coverage at competitive rates. Stonetrust seeks to develop a working relationship with each policyholder and producer to achieve our mutual goal of workplace safety and claims cost containment. Stonetrust is a Louisiana domiciled insurance company providing workers’ compensation and employers’ liability. In seventeen short years, we have evolved from a workers’ compensation self insurance trust to a stock insurance company licensed in eight states: Louisiana, Arkansas, Mississippi, Oklahoma, Kansas, Missouri, Tennessee and Texas.
Fusion PR on behalf of Valen Analytics
310.481.1431, Ext. 19