Care West Insurance Company has selected Valen Analytics’ Predict component of the InsureRight Platform for competitive advantage in underwriting and risk selection in workers compensation.
The InsureRight Platform combines predictive modeling, industry data, portfolio management and business intelligence tools to help carriers’ to proactively spot trends in their in-force book using leading indicators.
The platform’s Predict component provides transparency and context on how policies are scored to enable better risk selection and improved pricing accuracy.
Care West can leverage both Valen’s industry data and loss ratio predictions across its own policies.
Care West Insurance Company president and CEO John Grush said InsureRight will help to profitably grow more into its core segments of business and better serve customers.
"Valen gives us the ability to more confidently analyze risk utilizing their predictive tools and broad database," Grush added.
The Valen Analytics database comprises of more than 20 million policies scored using predictive models.