(USS Kidd (DD-661) docked in Baton Rouge, La., home of Stonetrust Commercial Insurance. Photo credit: Christopher Lin.)

Stonetrust Commercial Insurance has selected Valen Analytics InsureRight Platform. The Baton Rouge, La.-based carrier, which provides both workers’ compensation and employers’ liability insurance, will use the Predict and Manage applications within InsureRight to enhance its analysis of potential risk associated with workers’ compensation policies.

“The commercial lines industry is becoming increasingly complex and competitive due to underwriting profits being at the top of corporate priorities,” comments Sukhy Dhillon, CIO, Stonetrust. “Our increased focus on objective criteria for risk selection, pricing in underwriting, and utilizing tools like InsureRight will help us to grow profitably.”

Superior Accuracy

InsureRight Platform is powered by Valen’s contributory database, which the vendor characterizes as the largest and most robust data consortium specifically built for predictive analytics. The Predict application gives underwriters the ability to analyze individual policies with superior accuracy, Valen claims. The Manage application provides insurers with a forward-looking assessment of their portfolio’s risk quality, allowing them to quantify and forecast profitable segments of the market to pursue, according to the vendor. Additionally, Valen’s latest Risk Score gives Stonetrust the ability to analyze historically loss-free polices for increased accuracy in underwriting, a capability that the vendor claims is unique.

“By tapping into our new Risk Score, Stonetrust is one of the first to be able to accurately price loss-free policies, which represents a new frontier in pricing and risk selection,” comments Dax Craig, CEO and President of Valen Analytics. “By coupling this level of underwriting accuracy with the ability to analyze their position in the commercial lines market, Stonetrust is in a great position to utilize the full value of analytics in underwriting.”

Stonetrust’s Dhillon, adds that Valen, “understands our business goals and delivers the precise, real-time information we need to gain a competitive edge.”