Valen Technologies, a provider of intelligent predictive analysis and decision enabling software, was launched by a group of prominent industry veterans. The company, which has developed one of the first ever analysis tools using statistical learning theory, announced the availability of its Risk Manager software to help insurance companies make better core business decisions. Valen, which recently closed its Series A round of funding, is also announcing its first customer, insurance carrier Indiana Lumbermens Mutual.
Valen Technologies presents a new approach to analyzing historical experience data and revealing non-obvious relationships among policy, claims and underwriting data. By expanding risk criteria and optimizing existing risk environments, Valen's Risk Manager delivers highly accurate decisions. Indiana Lumbermens, a specialty property and casualty insurance company, has purchased Valen's software to reduce loss ratios in its workers compensation division. "We expect Valen's system to be effective and reliable in providing valuable benefits to our workers compensation underwriting department, including smoothing out the overall volatility of our loss ratios," said John F. Wolf, President of Indiana Lumbermens. "We are looking forward to the results of the software implementation."
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