New Mexico Mutual, a writer of workers’ compensation insurance in New Mexico, has selected Valen Technologies' UnderRight predictive analytics solution to gain greater insight into their data for more efficient pricing to risk.

According to Valen, increasing retention and expanding workers’ compensation market share are the New Mexico Mutual objectives. The Valen solution will enable them to identify an efficient growth opportunity and price them competitively.

New Mexico Mutual is a provider of workers’ compensation insurance. It has an efficient partnership with around 300 agents across the state and strives to provide access to quality, cost-effective workers’ compensation insurance and services for our customers.

Lou Volk, chief business officer of New Mexico Mutual, said: “In addition to the power of Valen’s UnderRight solution and the predictive analytics expertise of the Valen team, their Software-as-a-Service (SaaS) solution delivery was also key to our decision.

“Valen is well-known as the insurance industry’s predictive analytics experts and their transparent approach to building our model enables us to fully understand the details of the model in order to effectively explain it to our underwriters and agents.”

Dax Craig, CEO of Valen, said: “On behalf of the Valen team, I would like to thank New Mexico Mutual for choosing our UnderRight solution. We look forward to working together to help New Mexico Mutual achieve its goals.”