DENVER–(BUSINESS WIRE)–Valen Technologies, Inc. today announced that KESA, a not-for-profit fund that writes workers’ compensation coverage for Kentucky employees, has chosen Valen’s UnderRight® predictive analytics solution. With UnderRight, KESA will have the ability to identify individual insurance policies that are likely to outperform other similar policies. UnderRight will provide KESA underwriters the confidence to credit these high performing policies aggressively. As a result, KESA looks to grow their high quality business market share.
As a not-for-profit, self-insured fund, it is critical for KESA to avoid writing business at an underwriting loss yet it is also important to provide consistent underwriting and high-quality claims management for their policy holders. Leveraging Valen’s UnderRight predictive analytics solution will enable KESA to price policies more accurately and to process risk more efficiently.
Commenting on the Valen UnderRight decision, KESA CEO Greg Buie, said, “As a self-insured fund it is important for us to keep a close eye on how we manage all aspects of our business and the quality of our pricing, underwriting, and claims management processes. The combination of Valen’s deep workers compensation experience, immense external and consortium data assets and their best in class predictive analytics, made for an ideal partner to build our work comp predictive model.”
“On behalf of the entire Valen team, I would like to extend our appreciation to KESA for their selection of our UnderRight solution and for their vision to become a data and analytics driven company,” said Dax Craig, President and CEO of Valen Technologies. “Valen applauds KESA for their vision and their willingness to implement predictive analytics despite their peer group’s reluctance to use the technology effectively. Valen strongly believes that KESA will outperform its peers in a very short timeframe as a result. ”