Hawaii-based Island Insurance has selected the Predict application from Valen Analytics to aid its underwriters.
Predict, a component of Valen's InsureRight Platform for workers’ compensation insurers, will help Island improve visibility into risk selection and pricing on new and renewal policies.
“In order to maintain a leadership position in today’s highly competitive market, we are constantly striving to improve our underwriting performance,” said John Schapperle, president and CEO of Island Insurance Companies. “The analytics technology provided by Valen will be a vital tool to improving our pricing models, as well as our overall efficiency.”
Island and Valen worked together to develop a predictive model tailored to the insurer's portfolio and business needs. The idea is to improve consistency in analyzing policies so that agents and underwriters can do their jobs faster.
(This article appears courtesy of our sister publication, Insurance Networking News)
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