Valen Analytics, a provider of proprietary data, analytics and predictive modeling to help insurance carriers manage and drive underwriting profitability, announced a new customer engagement with FHM Insurance Company (FHM), a property and casualty (P&C) insurance company focusing on workers’ compensation insurance coverage in the Southeast region of the U.S.
FHM is leveraging the Predict features of Valen’s InsureRight Platform to make predictive analytics more accessible to underwriters and to provide more insight into the potential risk associated with workers’ compensation policies.
By adopting this component of the InsureRight Platform, FHM will gain access to transactional model deployment for risk selection and pricing accuracy. Predict empowers underwriters with enhanced visibility into individual risks, transforming how they interact with predictive scores.
"We commend FHM’s desire to augment their underwriting expertise with advanced data and analytics to improve underwriting profitability," said Dax Craig, President and CEO of Valen Analytics. "FHM now has the solution in place to help underwriters, managers, and executives take specific actions to improve their overall risk quality."
Supported by Valen’s contributory database, the InsureRight Platform continues to be recognized as an industry standard, and has seen tremendous momentum in the workers’ compensation industry.
"Incorporating sophisticated analytical tools provides a competitive advantage for commercial lines carriers," said Matt Whisenant, Director of Underwriting at FHM Insurance Company. "Valen’s InsureRight Platform enables our underwriters to better leverage their expertise when evaluating policies and make more consistent decisions on risk selection and pricing."
The InsureRight Platform offers comprehensive portfolio management capabilities and transactional model deployment for risk selection and pricing accuracy.