• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • WCW HOME
  • Submit a Wire!
  • Advertising
  • Media Partners
  • About
  • Contact Us

WorkCompWire

Your Trusted Source for Workers Compensation News

Enlyte
  • Workers Compensation News
    • Workers Compensation Industry News
    • Association, Rating & Research News
    • Claims, Legal, & Compliance News
    • Legislative & Regulatory News
    • Risk Management News
    • Work Force & Human Resource News
  • Featured Articles
  • Leaders Speak
  • Editor’s Forum
  • People On The Move

AmFed Selects Valen Analytics to Improve Underwriting Results

August 25, 2016 - WorkCompWire

Denver, CO – Valen Analytics recently announced a new customer engagement with AmFed, a workers’ comp insurer that also provides third party administration services for self-insured groups and individual self-insureds. AmFed will utilize the Predict application of Valen’s InsureRight Platform for workers’ compensation, providing their underwriters with better visibility into risk selection and pricing on new and renewal policies.

Valen’s custom-built predictive model is hosted entirely on the InsureRight Platform and integrated directly into the underwriter’s workflow, allowing for real-time decision support. Since AmFed customers are primarily construction related, Valen’s platform has been crucial in providing data and performance indicators on high hazard class codes. The implementation allows expansion into other areas of business while enabling faster and more informed decisions on those policies.

“At AmFed, we pride ourselves as being a leader in our field and bringing innovative ideas to our customers and clients. We decided that in order to remain competitive in the current insurance environment, we needed a robust predictive analytics tool to help our underwriters analyze risk and project the potential profit,” said Billy Roberts, President and Chief Executive Officer of AmFed. “This was a big investment for us, but we are confident that by partnering with Valen, we can bring our customers even greater value and help us identify the right opportunities in states we are not currently writing coverage.”

As a result of Valen’s consultation and AmFed’s commitment to predictive analytics, completion of the project happened just 45 days after contract signing, compared to internal or consultant-built models that can take nearly 18 months.

“AmFed identified a real need for predictive analytics and was extremely proactive about finding the right partners with which to build a model,” said Dax Craig, CEO of Valen Analytics. “Not only will AmFed improve their competitive advantage through the use of analytics, but the implementation will protect their existing business as well. The market and competitors are becoming more savvy with every passing day, and if traditional carriers hope to follow suit, they must adopt a data-driven mindset.”

Source: Valen

Filed Under: Industry News, Risk Management News, Top Stories, Workers' Compensation

Primary Sidebar

Get Our Free Newsletter:

Select list(s) to subscribe to


By submitting this form, you are consenting to receive marketing emails from: WorkCompWire.com, PO Box 1114, Culver City, CA, 90232, http://www.workcompwire.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

myMatrixx

Paradigm

MSQ

Follow Us on Twitter

Tweets by WorkCompWire

Workers Compensation News Topics

  • Top Stories
  • Featured Articles
  • Leaders Speak
  • Editor’s Forum
  • The RxProfessor
  • Industry News
  • Association, Rating & Research News
  • People On The Move
  • Claims, Legal, & Compliance News
  • Legislative & Regulatory News
  • Risk Management News
  • Work Force & Human Resource News
  • Workers’ Compensation

Wire Archives

Copyright WorkCompWire © 2023