Insurity, Inc. © 2017
The winners and losers are being decided in commercial lines. When A.M. Best called for a continued negative outlook for 2017, they pointed to intense price competition, stating, “…the underwriting cycle will be particularly challenging for companies that have failed to adopt advanced analytics and enhanced data…” That’s because analytically-driven insurers do more than incorporate new technologies. They see the market through a new lens and develop more sophisticated strategies to compete.
From 2012-2016, Valen clients collectively saw an average of 25 points of loss ratio improvement, double the industry average of 13 points. The consistent annual results of this study highlight how Valen is working with insurers to set a standard for best practices around analytics implementation.