Companies that recognize the strategic value of their own information and the power of true predictive analytics will find the marriage of Valenâs predictive analytics solutions and Millbrookâs business intelligence products and services, an excellent choice in advancing their profitability and strategic position.
Valen chose to partner with Millbrook due to their depth of experience in extracting, transforming and loading data from multiple sources and insurance vendor systems; rich business intelligence capability and deep knowledge of P&C insurance.
Dax Craig, Valenâs CEO commented âA Millbrook and Valen partnership provides both companies an opportunity to have complete end-to-end business intelligence solutions that will help P&C insurance companies segment risk more granularly and price policies more effectively.â
Millbrook found Valen an attractive partner due to their unique subscription service approach that makes predictive modeling affordable for a broad spectrum of company size and diversity. Valenâs ability to combine data from multiple sources, including a rich selection of external data sources, results in predictive models that provide exceptional value.
Millbrook Vice-President John Search stated, âThe ability to wring every drop of knowledge from a combination of a companyâs internal data and external data is strategically differentiating. It is creating a playing field of have and have-nots among insurance carriers, where those with the best business intelligence will win, and those with little to none will not survive. Millbrook knows insurance and knows how to make insurance information meaningful and actionable through our products and services. Adding predictive analytics to those through our partnership with Valen provides insurance carriers with an exciting new level of maturation at a price they can affordâ.
"In the rapidly changing and highly competitive soft market most insurance companies find themselves, it no longer is a question of 'if' they will adopt Business Analytics or even 'when.' It's now a question of how fully they can commit to leveraging the data they touch every day to gain market insight and improve market positioning," according to Mark Gorman, Principal of Mark B. Gorman & Associates LLC. "Collaboration among provider organizations in order to expand the functional agility provided, streamline implementation and integration, and shorten the time for adoption is clearly the wave of the future. Valen and Millbrook are riding that wave."
David West, insurance industry expert says, âIn this competitive market, success depends not only on the data but on what you do with the data. The joint solution offering from Valen and Millbrook provides Insurers with a turnkey solution that includes data as well as the analytics necessary to turn that data into usable information and this combination translates to competitive advantage."