Insurer Utilizes Real-time Decision Analytics on Purpose-Built P/C Platform
Prior to deployment, Canal’s product team spent significant time processing data and maintaining their model infrastructure. With the InsureRight Platform, monthly updates to the source data used to create models are automatically incorporated, limiting the time required for system maintenance, and allowing Canal’s team to focus on future modeling efforts.
“We built the InsureRight Platform to empower insurers to easily deploy predictive analytics initiatives that will have meaningful results on their business,” said
The InsureRight Platform also allows Canal to track usage of the model, identifying instances where underwriters have incorporated a model suggestion into a quote, and maintaining a record of the information used to quote a policy. This automated feature helps Canal explain model decisions to regulators and creates a registry of how their analysis has shifted over time.
“Valen’s extensive experience in the insurance industry allows us to provide a seamless integration of modeling insights into our underwriters’ daily workflow, and proactively address use cases and considerations when using predictive analytics in decision-making,” said
The InsureRight platform provides Canal the lightest IT solution, purpose-built for the property and casualty insurance industry. For more information, visit www.valen.com.
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Source: Valen Analytics