The partnership will see Francis Analytics offering its actuarial knowledge while Valen will provide predictive modeling software, with the aim of helping insurance carriers make better and more profitable individual risk assessments while having double-digit loss ratio reductions.
The insurance industry is changing rapidly, and predictive modeling technology is playing a major role in the underwriting process, said Louise Francis, consulting principal of Francis Analytics and Actuarial Data Mining. Valen is dramatically changing the underwriting landscape, and insurance professionals must leverage this technology in order to competitively evaluate insurance risks.
