Today’s issue of WorkCompRecap features the announcement from Insurity company Valen Analytics that its data consortium has grown to $90.5 billion across all standard Property and Casualty lines, up from $67 billion in 2018.
While the Commercial Auto segment grew very significantly, Workers’ Compensation also grew by 57%. Valen noted that dozens of third-party data sources and a diverse group of more than 60 insurers contribute to the data consortium, which offers transactional, behavioral data such as risk profile, attributes, claims history and data from third party sources to help drive improved decision making. Valen also mentioned its previous study findings that synthetic variables appended to consortium data demonstrated up to 13 times more predictive power.
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