Valen helps workers compensation insurers lower loss ratios, improve competitive position, reduce costs, increase the effectiveness of premium audits and grow profitably.

UnderRight^® enables insurers to improve underwriting results with increased underwriting discipline and greater consistency.

Using predictive analytics, UnderRight gives the underwriter the ability to match premium to the risk presented by any employer more consistently and with greater accuracy . The output of an UnderRight model is a score that can be deployed into your business in a number of ways, including:

Risk Selection – reducing underwriter touch, identifying risks with the greatest and least profit potential in any risk class and improving the consistency and accuracy of risk selection decisions.
Tier Placement – correctly assigning risks to the more optimal tier schedules thereby improving pricing accuracy.
Schedule Rating – identifying pricing inadequacy and facilitating more granular pricing models to enable greater pricing precision.

UnderRight improves the Workers’ Compensation business by:

• Increasing pricing precision
• Avoiding adverse selection
• Ensuring profitable growth in both hard and soft markets.

AuditRight^® reduces premium audit expense while optimizing the results of the audit function.

AuditRight identifies those policies with an exposure and premium mismatch and then predicts which type of audit will provide the most cost-effective outcome. Using the economic and firmographic data contained in Valen’s XData^®, our models enhance our client’s in-house data and increase the insurer’s understanding of their customers.

Valen's AuditRight solution delivers the following features:

Discovery Audit Notification – Discover higher rated classes before policy term expiration with notification from AuditRight that a preliminary audit should be performed
Audit Intensity Score – Focus your field and telephone auditors on those accounts that require exposure or classification adjustments with AuditRight rating discrepancy score
Audit Reasons – Auditors will be primed with areas to focus on when performing an audit with AuditRight rating discrepancy reason codes.

AuditRight enhances the premium audit function by:

• Optimizing premium recoveries resulting from audits
• Improving downstream pricing models by more accurately recording exposure
• Reducing premium fraud and class code reporting errors
• Using audit resources more effectively
• Decreasing the cost of premium audits by selecting the most cost-effective method.