SOURCE: Valen Technologies

November 12, 2006 12:00 ET

Valen Technologies Introduces Organizational Readiness Program Preparing Insurance Carriers for Predictive Analytics

New Program Allows Organizations to Examine Internal Elements for Predictive Analytics Implementation -- Maximizing ROI

DENVER, CO -- (MARKET WIRE) -- November 12, 2006 --Valen Technologies, the expert in predictive analytics for the insurance industry, today announced the unveiling of the company's Organizational Readiness Program. Encompassing a needs assessment phase and a proof of concept, the program assures that all elements are in place to generate maximum ROI from a predictive analytics initiative, prior to implementation.

Insurance carriers are experiencing market and competitive pressure to implement predictive analytics in order to out-select the competition, improve pricing precision and uncover new pockets of opportunity. While Valen's predictive analytics solution allows carriers to reach these goals, forethought and planning is the first phase to ensuring that carriers will extract maximum benefits. Carriers tend to rush into the implementation process and fail to recognize that deploying predictive analytics requires a fundamental change in business operations, philosophy and strategies. For many carriers, determining their level of organizational readiness and which key initiatives to target first can be the most difficult hurdles, resulting in lack of organizational buy-in, low adoption and/or poor business outcomes.

"When launching a predictive analytics initiative, all too often organizations fail to look inward and determine if they have the key elements in place. Accurate data sets and the necessary staff are among the vital elements that must be in place before charging forward," said Dax Craig, CEO of Valen Technologies. "With the introduction of our Organizational Readiness Program, Valen is now helping companies understand what it takes to launch a successful predictive analytics program, allowing carriers to gain the highest level of value from their implementation."

There are many important questions to consider which allow Valen to measure a company's level of organizational readiness. Below are a few important areas that Valen recommends exploring:

--  What is the priority of benefit levers (e.g., increased revenues,
    reduced loss costs or reduced expenses)?
--  Does your organization have clean, rich, internal data sets that can
    be leveraged during the analytics process?
--  How do you foresee deploying valuable insights, namely decision
    automation versus decision support?
--  How do you envision monitoring and refreshing production models?
--  Does your organization understand the magnitude of the requisite
    change effort, particularly from a human capital perspective?
--  How ready is your organization to institute the potential changes
    necessary to extract maximum benefit?
To learn more about Organizational Readiness and if your organization is ready for predictive analytics visit

About Valen Technologies

Valen Technologies is the expert in predictive analytics for the property and casualty insurance industry. Valen delivers a highly automated solution to validate and enrich data, create and deploy predictive models, develop reports and monitor the models in production. Valen helps its customers improve core business decisions to ultimately increase profitability. To learn more about predictive modeling and Valen Technologies, visit or call 800-280-3304.

Contact Information

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