DENVER–(BUSINESS WIRE)–Valen Technologies, Inc. today announced that BrickStreet Mutual Insurance Company, the largest workers’ compensation insurance carrier in West Virginia, has chosen Valen’s InsureRight® Risk Report as a strategic tool to help identify policy risk in advance of pricing their workers’ compensation policies. With InsureRight, BrickStreet will be in a position to take corrective actions on new or renewal policies that InsureRight identifies as likely to have misclassified exposure.
“We believe that Valen’s InsureRight will help us better understand the exposure of the policies we write.”
Valen, a provider of cloud computing predictive analytics solutions to the insurance industry, is already working with the BrickStreet team on the implementation of InsureRight and is on track to have the product available for BrickStreet’s next round of policy renewals.
Commenting on the Valen InsureRight decision, Jeff Benintendi, SVP of BrickStreet Mutual Insurance Company, said, “As a mutual insurance company writing business in West Virginia and other target states, it is important we manage our business with a high degree of precision. Our policyholders expect nothing less. We must understand the risks we are writing, price for the risk we are accepting, and be able to decline business outside of BrickStreet’s risk appetite.” Benintendi went on to say, “We believe that Valen’s InsureRight will help us better understand the exposure of the policies we write.”
“On behalf of the entire Valen team, I would like to extend our appreciation to BrickStreet for their selection of Valen’s InsureRight Risk Report, the most recent addition to Valen’s suite of predictive analytics products built specifically for workers’ compensation insurance carriers,” said Dax Craig, President and CEO of Valen Technologies. “Valen is very excited about our partnership with BrickStreet Mutual and is pleased that InsureRight will provide them an added level of policy pricing accuracy.”