Solution is a unique offering that allows insurers to monitor and quantify the impact of predictive analytics to improve portfolio performance
Leveraging analytics to identify the potential impact of each risk on profitability and aggregate exposure remains a key priority for insurers; yet only 14% reporti mature capabilities in this area. With Manage 2.0, Valen is filling the void by enabling continuous access to insights on the portfolio health, performance and results of an analytics program.
The new version allows users to begin with a high-level view of their portfolio, using key indicators and measures. Insurers can then drill down from an aggregate view to hazard groups, geographies, underwriters, agents and individual policies to glean the greatest degree of actionable insights needed to improve portfolio performance.
“Today, despite substantial investments in technological, financial and human resources, insurers remain reliant on hindsight to guide the future of their business. This is due to the lack of proper data models that can produce actionable insights,” explained
The solution leverages modern data visualization tools for a streamlined, adaptive user experience that enables insurers to identify trends and patterns, such as high and low performing policies, and delivers insights into predicted pricing benefits. With these insights, insurers can confidently allocate resources to correct, improve or advance portfolio performance.
Manage 2.0 is currently available to all Valen clients hosting a predictive model on the InsureRight Platform.
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i Source: Novarica New Normal 100 for Property/Casualty Insurers
Fusion PR on behalf of Valen Analytics
Source: Valen Analytics