Valen Technologies has been selected by IAT Insurance Group (IAT), an insurance group consisting of eight companies, for its UnderRight predictive analytics underwriting solution to enhance pricing strategies, risk selection and profitability on their commercial auto line of business.
According to Valen, IAT has selected UnderRight solution due to its predictive modeling, availability of expansive external data through Xdata data warehouse, a wealth of underwriting and claims data through ValenNetworks consortium data warehouse, and Valen’s pre-built model delivery solution.
The company said that IAT is an insurer of commercial auto business through various insurance entities. The UnderRight solution is expected to maximize profitability of its existing business, and will provide IAT with predictive analytics and an efficient model.
Dax Craig, CEO of Valen, said: “We welcome IAT to our client family and thank them for recognizing the value of our solution as well as that of our company and people. Our implementation teams are already heads down building the IAT model while working closely with IAT employees to help them achieve the maximum benefit from the UnderRight solution.”