KESA a not-for-profit, self-insured fund that writes workers' compensation coverage for Kentucky employees, has selected Denver-based Valen Technologies UnderRight predictive analytics solution. The Valen product will give KESA the ability to identify individual insurance policies that are likely to outperform other similar policies, a Valen statement claims. That capability will help KESA to grow its high-quality market share, Valen claims.
As a not-for-profit, self-insured fund, it is critical for KESA to avoid writing business at an underwriting loss yet it is also important to provide consistent underwriting and high-quality claims management for their policy holders, a Valen statement says. Leveraging Valen's UnderRight predictive analytics solution will enable KESA to price policies more accurately and to process risk more efficiently, the vendor claims.
"As a self-insured fund it is important for us to keep a close eye on how we manage all aspects of our business and the quality of our pricing, underwriting, and claims management processes," comments Greg Buie, CEO, KESA. "The combination of Valen's deep workers compensation experience, immense external and consortium data assets and their best in class predictive analytics, made for an ideal partner to build our work comp predictive model."
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio