Alabama comp fund adopts underwriting analysis platformReprints
AlaComp, an Alabama workers compensation self-insurance fund, will adopt the predictive application of Valen Analytics’ InsureRight platform.
AlaComp will utilize InsureRight to support underwriting decisions, AlaComp said Tuesday in a statement.
The predictive model was built and hosted on Denver-based Valen’s InsureRight Platform and combines AlaComp’s data with Valen’s contributory database. It will offer risk quality insight to underwriters for risk selection and pricing decisions, according to the statement.
“In the complex market of workers compensation, companies look for every tool to make an educated decision on pricing policies,” Stephen Marino, president of Montgomery, Alabama-based AlaComp said in the statement.
“Implementing a proven, robust analytics platform like InsureRight … enables us to grow in the markets we serve.”