Glatfelter will use insights from Insurity Valen Analytics to improve transactional efficiency and loss ratio
Image: Glatfelter Insurance Group to use Insurity Valen Analytics InsureRight platform. Photo: Courtesy of Pexels/Pixabay.
Insurity Valen Analytics, a leading provider of proprietary data, analytics, and predictive modeling for P/C insurers, today announced that Glatfelter Insurance Group, one of the largest program managers and insurance brokers in the United States, will leverage the Valen Analytics InsureRight platform and advanced data and analytics capabilities for their Commercial Auto line, as part of their improved underwriting efficiency and risk assessment initiative for their program business.
Valen Analytics’ custom-built models, based on the $6.4B of commercial auto premium in the Valen Data Consortium which is hosted on the InsureRight platform, generate highly predictive scores that enable valuable insights into risk selection and pricing. Glatfelter will use these insights to improve transactional efficiency and loss ratio, while significantly streamlining the application process by leveraging straight-through processing.
“With Valen Analytics’ proven data and analytics expertise, we look forward to more accurately identifying profitable vs. unprofitable segments of our program business, leading to improved risk selection and pricing differentiation from one risk to the next,” said Jim Partridge, President of Insurance Company Operations at Glatfelter. “We are excited to see improvement in our Commercial Auto line driven by analytics-powered automation.”
“Actionable intelligence drives growth and profitability,” explained Kirstin Marr, President at of Insurity Valen Analytics. “That’s what enables our clients to deliver modern, streamlined customer experiences, while also ensuring risk-appropriate pricing. We are honored to partner with Glatfelter as they continue to evolve their data-driven approach with increasing sophistication and accuracy in risk assessment.”
Source: Company Press Release