Society Insurance, a Fond du Lac, Wis.-based commercial insurer, has successfully implemented the UnderRight predictive analytics solution from Valen Technologies (Denver), the vendor announced on Tuesday in a press release.
Society is now in production with UnderRight in its workers' compensation line of business. The carrier expects the solution to positively impact the its combined ratio by enabling improved underwriting decision consistency and efficiency, according to the release.
"Valen's UnderRight solution offers us the ability to price risks more accurately — the fundamental lever we need to continuously improve the growth and profitability of our business," Rick Parks, COO of Society Insurance, said in the release. ""In addition to providing us with much greater pricing power in the marketplace, we are now able to focus our experienced underwriters where they are most acutely needed. " to analyze complex risks and provide an even higher level of service to our independent agents."