Denver, CO – Valen Analytics, a provider of proprietary data, analytics and predictive modeling for property and casualty insurers, recently announced a new customer engagement with LUBA Workers’ Comp, one of the largest providers of workers’ compensation insurance in Louisiana with approximately $80 million in direct written premium. LUBA will integrate the Manage and Predict applications of Valen’s InsureRight Platform, allowing for better risk insight of workers’ compensation polices and a greater purview of the market.
“We wanted a way for our underwriters to gain a broader perspective on risk assessment and improve consistency in decision-making for risk selection and pricing,” said Mike DePaul, COO of LUBA Workers’ Comp. “Valen’s platform grants us this ability, and provides a way to manage our underwriting performance in real-time that will help us stay competitive and maintain our position in the industry.”
The 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 score individual risks with greater precision, as well as the ability to analyze historically loss-free policies for the first time. Manage provides insurers with state-of-the-art visual analytics for real-time model monitoring and performance, allowing them to quantify and forecast which profitable segments of the market should be pursued.
“We are honored to be partnering with LUBA Workers’ Comp to continue the innovative leadership they’ve already demonstrated in the state of Louisiana and the Southeast U.S. for workers’ compensation,” said Dax Craig, CEO of Valen Analytics.
Source: Valen