Valen Data Consortium
A majority of insurers do not have large enough data sets to compete on a level playing field when it comes to advanced analytics and predictive modeling. We’ve solved that problem through data consortiums that allow us to augment your data and build customized predictive modeling and analytic solutions.
- Anonymized – Your data is completely protected.
- Cleansed – Your data has never looked so good.
- Detailed – Policy, claims and underwriting inputs are standardized and normalized in a robust data warehouse.
- Recent – We receive daily feeds of policy data.
- Reportable – State of the art visual analytics allow you to analyze the impact to your performance.
How much data is in the consortium?
There is $67B in premium across all standard property and casualty lines of business. Our data comes from a diverse set of more than 50 insurers.
Premium = $67B
Policy Terms, Recent & Detailed = 29M
Claims = 2.8M
Audits & Inspections = 3M
A broader view
Assuming you have enough data to power a predictive model, it is still limited to one view of the market. You know about the risks you write, and some about the risks you quote. But, nothing about the risks you didn’t quote. In a consortium, you have access to a representative view of the entire market.
Modeling algorithms built from consortium data offer something unique that is not possible when working with a single insurer’s data set – proprietary predictors. Valen has developed over a thousand predictive variables derived from the consortium that are leveraged for individual clients, depending on their business goals. That broader view and enhanced predictive power leads to long-term, market-leading results in terms of underwriting profit and growth.