US insurance broker Glatfelter Insurance Group will leverage Insurity Valen Analytics’ InsureRight platform and advanced data analytics for its commercial auto line.
The deal was made in line with its initiative for improving its underwriting efficiency and risk assessment.
Valen Analytics provides a custom-built model which is based on $6.4bn of commercial auto premium within its data network. Through this it can generate highly predictive scores which enable valuable insights into risk selection and pricing.
By leveraging this technology, Glatfelter will improve its transactional efficiency and loss ratio while it streamlines the application process.
Glatfelter president of insurance company operations Jim Partridge said, “With Valen Analytics’ proven data and analytics expertise, we look forward to more accurately identifying profitable vs. unprofitable segments of our program business, leading to improved risk selection and pricing differentiation from one risk to the next. We are excited to see improvement in our Commercial Auto line driven by analytics-powered automation.”
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