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Society Insurance Chooses Valen Technologies’ UnderRight™ Predictive Analytics SolutionSeptember 16 | Valen Technologies
For Immediate Release
Society Insurance Chooses Valen Technologies’ UnderRight™ Predictive Analytics Solution
UnderRight™ Predictive Analytics combined with Valen’s Extensive Data Assets helps Society optimize policy pricing and improve profitability
DENVER, Colo., September 16, 2008 – Valen Technologies, the turnkey predictive analytics experts for the property and casualty (P&C) insurance industry, today announced Society Insurance has selected Valen’s UnderRight™ predictive analytics solution. Valen’s predictive models will assist Society’s underwriters as they underwrite and price new and renewal workers’ compensation and packaged policies more effectively. With Valen’s UnderRight solution and access to Valen’s wealth of data, Society Insurance will make more informed underwriting and pricing decisions. With the ability to assess risk more accurately, and price accordingly, Society will maximize profitability and sustain its steady growth as they expand into new markets. Commenting on the selection of Valen’s UnderRight solution, Rick Parks, Society Insurance’s COO, said, “Valen’s predictive models will give our underwriters a level of objective insight into our business that they have not had before. Not only will they be able to price more consistently and accurately, but our underwriters will be able to increase their production significantly.” Parks continued, “We chose Valen because they offer the only predictive analytics solution that includes completely integrated model deployment, monitoring and refreshing. We also chose them in large part due to their outstanding reputation in the market and their deep commercial lines expertise.” “We welcome Society Insurance to our client family and thank them for choosing Valen. Predictive analytics is really starting to gain traction in the insurance industry as more and more insurers are recognizing its value,” commented Dax Craig, Valen’s President and CEO. “A core competency of every successful insurer is to price and assess risks accurately. Valen’s turnkey predictive analytics solutions enable insurers to use the power of predictive models to improve the consistency and accuracy of underwriting while reducing overall underwriting expense.” About Society Insurance Society Insurance is a recognized leader in workers compensation insurance for a variety of industries in Wisconsin, Illinois, Iowa, and Indiana. Society is also a strong provider of property, liability and business auto insurance offering package policies exclusively designed for a wide range of businesses such as restaurants, taverns, motels, grocery stores, medical clinics, contractors, and cleaning services. For additional information, visit www.societyins.com. About Valen Technologies Valen Technologies is the expert in turnkey predictive analytics for the property and casualty insurance industry, offering highly automated predictive analytics solutions to create and deploy predictive models. Valen helps its customers improve decision making by using predictive analytics in the decision process. To learn more about predictive modeling and Valen Technologies, visit www.valen.com or call 800-280-3304. PR Contact: David West Sr. Vice President, Marketing 904-738-9753
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