(Image source: Glatfelter Insurance Group.)
Glatfelter Insurance Group (York, Pa.), one of the largest program managers and insurance brokers in the United States, has chosen Insurity Valen Analytics’ (Denver) InsureRight platform and advanced data and analytics capabilities for its Commercial Auto line, as part of an improved underwriting efficiency and risk assessment initiative for program business.
Jim Partridge, President, Insurance Company Operations, Glatfelter.
Valen Analytics’ custom-built models, based on the $6.4B of commercial auto premium in the Valen Data Consortium, hosted on the InsureRight platform, generate highly predictive scores that enable valuable insights into risk selection and pricing, according to the vendor. Glatfelter will use these insights to improve transactional efficiency and loss ratio, while significantly streamlining the application process by leveraging straight-through processing, Valen reports.
“With Valen Analytics’ proven data and analytics expertise, we look forward to more accurately identifying profitable vs. unprofitable segments of our program business, leading to improved risk selection and pricing differentiation from one risk to the next,” comments Jim Partridge, President, Insurance Company Operations, Glatfelter. “We are excited to see improvement in our Commercial Auto line driven by analytics-powered automation.”
Data-Driven Accuracy in Risk Assessment
“Actionable intelligence drives growth and profitability,” comments Kirstin Marr, President, Insurity Valen Analytics. “That’s what enables our clients to deliver modern, streamlined customer experiences, while also ensuring risk-appropriate pricing. We are honored to partner with Glatfelter as they continue to evolve their data-driven approach with increasing sophistication and accuracy in risk assessment.”
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