Company Presents Challenges and Opportunities for Commercial Lines – Report Forecasts Rising Market Consolidation
DENVER – September 18, 2013 – Valen Analytics, a provider of proprietary data, analytics and predictive modeling to help insurance carriers manage and drive underwriting profitability, today unveiled its 2014 Outlook: Commercial Lines report, shedding light on the industry’s top challenges and offering information to better prepare and adapt for 2014. As new business models emerge to challenge existing business models, Valen’s report highlights industry dynamics driving the need for data and analytics, and points to market share consolidation as a significant consideration for the next 12 months.
“As insurance carriers continue to use data and analytical tools to assess the best risk and grow profitable market share, it’s imperative that carriers and insurance industry executives take stock of where things are headed for 2014,” said Dax Craig, President and CEO of Valen Analytics. “We’re working closely with commercial lines carriers and understand that now is a very critical time for decision makers who stand to benefit from new underwriting strategies. Our evaluation is that this is poised to become a fast-moving landscape.”
This new report pulls from Valen’s unique insights and explores the regulatory challenges, shifting market dynamics, market consolidation and more that carriers are facing. Below are the topics that the 2014 Outlook: Commercial Lines findings address:
- Industry, Market and Regulatory Changes
- Market Share Consolidation
- Hardening Market Dynamics
- Economic & Regulatory Woes
- Organizational Readiness & Talent Crisis
- Getting Ready for Advanced Data & Analytics
- Talent Crisis
The full 2014 Outlook: Commercial Lines report, along with several complimentary resources and studies on the latest underwriting techniques and pitfalls to avoid, can be found on Valen’s website in the Resource Center at www.valen.com.
About Valen Analytics
Valen Analytics helps carriers manage and segment their portfolios in order to drive underwriting profitability. Valen’s InsureRight Platform is the only solution with proprietary insight into portfolio metrics and risk characteristics to identify pockets of pricing inadequacy and redundancy. A dynamic portfolio management tool provides access to Valen’s contributory database containing policy level analysis not available elsewhere. The Valen contributory database is anonymized and has scored over 20 million policies using robust predictive models in Homeowners, Workers’ Compensation, Commercial Auto, Telematics, Commercial Package, and BOP. Learn more about Valen at www.valen.com.