Whether you build predictive models internally or with a third party, there remains the equally important step of implementation and integration into a workflow that your team will actually use. Without it, hundreds of hours of hard-fought analysis will remain on the shelf, unused or deployed in a manner that does not allow for version control, adoption tracking or ease of use.
Valen’s InsureRight® platform is a tool specifically designed to address these, and other issues insurers encounter in implementation. And, it can help you deploy your models.
Your model + our platform. Speed to market counts, and using the InsureRight® platform can mean a deployment in 3-4 months, verses 18-24 months reported by many insurers who tackle this in-house. Our APIs integrate into any core system, and we also offer batch services and a user interface to get started quickly.
Monitoring + Reporting. How do you validate data quality and versioning? Are underwriters or claims adjusters using the model? What do they do if they disagree with the score? These are all questions that the InsureRight® Platform can answer, providing a clear view of how the model is being used.
Management + Insight. How is model usage impacting the performance of your book overall? Where do you have opportunities to grow profitably and where are you being adversely selected? Are claims decisions leading to better outcomes? Leveraging predictive scores as leading indicators allows you to make decisions proactively rather than waiting on hindsight to impact performance.
Valen's cloud-based solution does the heavy lifting for insurers, putting the analytics tools into the hands of users for real-time decision support.