Central Insurance Companies Bolsters Underwriting Analytics in Workers’ Compensation

Business Wire

Leverages Full Breadth of Valen Analytics’ InsureRight Platform

DENVER--(BUSINESS WIRE)-- Valen Analytics®, an Insurity company, and provider of proprietary data, analytics and predictive modeling for P/C insurers, today announced that the Central Insurance Companies (Central) will utilize Valen’s InsureRight® Platform for workers’ compensation to more accurately understand the health of its book of business and offer underwriters new information for writing risk. Central is a leading property and casualty insurer with more than a billion dollars in assets and an A.M. Best “A” Rating.

Central will utilize both the Predict and Manage applications of the InsureRight Platform.

Predict empowers underwriters to make more informed decisions on risk selection and pricing, by generating actionable insights at the point of decision, significantly reducing time-to-quote on new and renewal policies.
Manage is a portfolio management analytics tool that uses real-time, leading performance indicators to create visual dashboards that enable insurance leaders to accurately forecast the impact of underwriting decisions and models in production.

“Central’s work with Valen Analytics supports our continued efforts to be a market leader for our independent agency partners for the workers’ compensation line of business,” says Jana Ringwald, VP of Commercial Underwriting at Central Insurance Companies. “We look forward to the InsureRight tool helping us develop confidence in our individual risk selection, improve our pricing, and ultimately grow our workers’ compensation line responsibly and profitably.”

Valen’s custom-built predictive model, hosted on the InsureRight Platform, provides Central the lightest IT solution on the market with an industry-leading data consortium of $67 billion in premium.

“By fully leveraging the InsureRight Platform, Central will gain access to forward-looking insights into how its book of business will perform,” said Kirstin Marr, President of Valen Analytics. “Central is improving its ability to adjust, optimize, and grow in an increasingly sophisticated competitive market.”

For more information on Valen Analytics’ InsureRight Platform, visit www.valen.com.

About Valen Analytics

Valen Analytics, an Insurity company, provides proprietary data, analytics and predictive modeling for property and casualty insurers. We work with insurers who are actively looking to utilize modern approaches to pricing, risk selection, claims triage, and premium fraud. Our customers are focused on increasing competitive pressures, fighting adverse selection with innovative solutions, and raising awareness for the impending “experience gap” with initiatives such as Insurance Careers Movement. Our customers span many lines of business including Homeowners, Personal Auto, Workers’ Compensation, Commercial Auto, Commercial Package, Commercial Property, and BOP. Learn more about Valen at www.valen.com.

About Central Insurance Companies

Founded as the Central Mutual Insurance Company in 1876, the Central Insurance Companies have evolved into a successful property and casualty group operating on a strong foundation of core values including Integrity in the way we operate our business; Relationships we develop working as a team and sharing in each other's successes; and Excellence achieved by never compromising on quality, providing superior performance, and pursuing continual improvements. Our commitment to excellence is reflected in our combined assets totaling over $1 billion and our A.M. Best rating of "A" Excellent. Central's companion stock company All America Insurance Company was established in April 1961 as an answer to the competitive pressures created by companies deviating from manual rates. Today, All America is a wholly-owned stock affiliate. For more information, visit www.central-insurance.com.