Implemented Valen Technologies’ UnderRight predictive analytics underwriting solution to improve pricing strategies and profitability
Hawaii Employers Mutual Insurance Company, a workers’ compensation company, has implemented Valen Technologies’ UnderRight predictive analytics underwriting solution to improve pricing strategies and profitability.
With UnderRight’s predictive analytics capabilities, HEMIC underwriters will be able to gain insight into risks, improve predictability of outcomes and more effectively assign accounts to the appropriate tier based on performance.
Bob Dove, CEO of HEMIC, commented: “Working with Valen on this effort has been a great experience, educational, and beneficial. Gaining this level of insight into our business with predictive analytics not only enables us to better assess and assign risk, it has allowed us to streamline the underwriting process and free up underwriters to focus on more complex risks.”
Dax Craig, president and CEO, said: “Our team has enjoyed working side-by-side with HEMIC to build and implement the model. We are confident that HEMIC’s ability to analyze their business with such precision offers them a strong competitive advantage in the Hawaii workers’ compensation market.”