Valen Technologies
Insurance Predictive Analytics, Modeling & Proprietary Data.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
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| Total Funding | 000k | ||
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Valen Technologies, operating as Valen Analytics, was established to provide predictive analytics and data solutions specifically for the property and casualty (P&C) insurance sector. Founded by Dax Craig in 2004, the Denver-based company carved a niche for itself by leveraging large contributory data assets to inform underwriting and pricing decisions for insurance carriers. Craig, a serial entrepreneur who previously founded and sold Xertex Technologies, brought a vision of applying data science to an industry ripe for transformation. His background includes an MBA in finance from the University of Colorado and a bachelor's in business administration and marketing from the University of Tulsa, providing a solid foundation for leading a data-centric enterprise.
The company's core business revolves around its proprietary data, predictive modeling, and analytics platforms that help insurers improve underwriting profitability and achieve lower loss ratios. Valen serves a range of clients, from small or regional writers to large carriers in homeowners, personal auto, workers' compensation, and various commercial lines. Revenue is generated by providing access to its cloud-based InsureRight Platform, which offers tools for real-time risk selection and pricing. This platform enables underwriters to make more informed decisions by identifying policies with potential premium discrepancies and better matching premiums to risk. A key component of Valen's offering is its contributory database, which pools anonymized policy and claims data from multiple carriers, allowing for more robust and accurate predictive models.
In January 2017, Valen Technologies was acquired by Insurity, a major provider of software and analytics for the P&C insurance industry. This strategic acquisition allowed Valen's products to reach a broader customer base of over 200 insurers. Following the acquisition, the company became 'Valen Analytics, an Insurity Company,' and continued to operate under the leadership of Dax Craig. The integration aimed to combine Valen's specialized data assets and real-time deployment technology with Insurity's extensive market presence, enhancing the analytical capabilities available to the insurance sector.
Keywords: predictive analytics, property & casualty insurance, underwriting, data analytics, insurtech, risk management, loss ratio, contributory data, workers' compensation, policy pricing