Regardless of the type of insurance a carrier writes, virtually all carriers place the following four goals at the top of their priorities: Profitable growth, lowering loss ratio, reducing expenses, and improving ease of doing business. To achieve these goals, the methods that carriers will use are as varied as the carriers themselves. However, one thing remains constant across the industry – every aspect of the insurance business can benefit from an improved ability to predict the future.

Whether actuaries seek to create more accurate pricing models, underwriters hope to make better underwriting decisions, marketing wants to improve campaign results, claims needs to predict and avoid litigation, or Sales needs to predict agency performance more reliably, all of these functions will benefit from predictive modeling.

Unfortunately, other than the largest insurers, most companies lack the data volumes necessary to build effective models and most lack the in house expertise to conduct effective analysis. Although some companies have employees with the necessary skills to build predictive models, these employees are generally too busy conducting business as usual to take the time to branch out and find the value of predictive analytics. Further compounding the problem, the software and hardware needed to build predictive models is highly specialized and usually carries a steep price tag. Each of these factors puts predictive analytics out of reach of most insurers.

Until Valen.

Valen delivers the benefits of predictive analytics to insurers of all sizes and budgets. Our experts use three key data sources and powerful predictive modeling software to build the industry’s most effective predictive models. With a combination of massive amounts of data in our ValenNetworks™ historical database, our XData^® aggregation of economic and firmographic data and our client’s own data, we build models that cannot be built using a carrier’s in-house data alone. Using a software-as-a-service approach, we deliver analytic results, not tools. Valen’s predictive analytics provide carriers of all sizes with a more effective means of achieving profitable growth, reduced loss ratios, lower expenses and greater ease of doing business.