Valen® Technologies Announces New Customer Engagement with Donegal® Insurance Group to Deliver Predictive Analytics Product for Workers’ Compensation

Valen’s InsureRight® product delivers advanced decision-making capabilities for Donegal’s underwriting practices.

DENVER--(BUSINESS WIRE)-- Property and casualty insurance predictive analytics provider Valen Technologies announced today a new customer engagement with Donegal Insurance Group. Valen will provide its InsureRight product, a predictive analytics solution as a foundation upon which Donegal can more accurately price their current book of business.

Chet Szczepanski, Vice President and Chief Actuary of Donegal Insurance Group, said, “We like the collaborative approach Valen uses in working with their clients. Because of our steadfast commitment and loyalty to our clients, we are very selective about our vendor relationships. We’re excited to have Valen’s modeling expertise allow our internal experts to make more informed business decisions. Better yet, this is not a drawn out engagement that keeps us reliant on expensive consulting engagements. Rather, Valen provides strategic tools we can incorporate into our core underwriting processes for the long-term.”

InsureRight allows underwriters to score policies on two fronts. First, carriers can more efficiently identify risks for new and renewed policies and price according to risk in order to improve loss ratio performance. Second, they can identify policies that are likely misclassified and provide agents and underwriters with the ability to correct exposure misclassification prior to providing final pricing. Both of these scores facilitate a quick turnaround time and the ability to positively impact a carrier’s overall pricing accuracy.

“We are pleased to work with Donegal, and appreciate their long-standing commitment to meet the comprehensive property and casualty insurance needs of their customers. We were able to show how InsureRight will help Donegal’s underwriters make more informed decisions, in advance of formalizing our relationship,” said Dax Craig, CEO of Valen.

About Valen Technologies, Inc.

Valen Technologies, Inc. provides turnkey predictive analytics to the property and casualty insurance industry. Valen’s proprietary consortium database, called Valen Network Data, is used to deliver predictive modeling products that improve risk selection, pricing, underwriting, audit, and inspection processes. Valen Network Data is comprised of nationwide data that includes policy-level information for Workers Compensation, Homeowners, Premium Audits, Commercial Auto and BOP, combined with disparate, non-industry data sources carefully mined to maximize usefulness. Our suite of products that includes PropertyRight^TM, InsureRight®, UnderRight®, RateRight®, and AuditRight® are delivered in a fully hosted environment. Learn more about Valen at www.valen.com and http://propertyright.valen.com.

About Donegal® Insurance Group

The Donegal Insurance Group is a regional property and casualty insurance group actively conducting business in the Mid-Atlantic, Southeastern and Midwestern states through its insurance affiliates: Donegal Mutual Insurance Company, Atlantic States Insurance Company, Southern Insurance Company of Virginia, Peninsula Insurance Company, Le Mars Insurance Company, Sheboygan Falls Insurance Company, Southern Mutual Insurance Company, and Michigan Insurance Company.

Donegal offers full lines of personal, farm and commercial products – including businessowners, commercial multi-peril, commercial automobile, workers’ compensation, homeowners, boatowners, farmowners, private passenger automobile, and other coverages. Donegal conducts business through a network of independent insurance agencies. Learn more about Dongel at www.donegalgroup.com

FusionPR on behalf of Valen TechnologiesVictoria Yarnish310-481-1431, ext. 18
[email protected]
or
Donegal Insurance GroupChet Szczepanski, Vice President & Chief Actuary
717-426-1931
[email protected]

Source: Valen Technologies, Inc.