Business News: Insurity, Coventry, Acrometis, Genex

February 3, 2017
Insurity Acquires Valen Analytics

Insurity, Inc., a provider of core insurance processing and data integration and analytics solutions, announced its acquisition of Valen Analytics. Founded in 2004, Valen is a provider of proprietary data, analytics and predictive modeling for P/C insurers. The Valen brand will be retained with the organization, operating as ‘Valen Analytics, an Insurity company.’

Insurity customers can take advantage of Valen’s data-first strategy, which is unique amongst predictive analytics providers, having amassed robust contributory data assets across all standard P&C lines. Valen’s InsureRight Platform and predictive analytic solutions produce market-leading results that dramatically improve underwriting performance, and give insurers the confidence to leverage the real-time risk selection and pricing tools needed to offer a digital experience for both policyholders and agents.

Coventry, Acrometis Form Data and Technology Partnership to Drive Efficiency

A new data-and-technology partnership between Coventry and Acrometis seeks to increase efficiency of claims adjusters by pinpointing bills that are unlikely to be compensable or that relate to services rarely performed in treating injured workers.

The collaboration brings the power of Coventry’s bill-review expertise and Acrometis’ claim-management software, CLAIMExpert, together. The result is a singularly robust technology available only to Coventry clients through the company’s bill-review program. Advanced algorithms draw upon multiple sources to present only those bills, through the Coventry Connect portal, that have a high probability of requiring adjuster review. The technology also provides in-depth messages so an adjuster can make more timely and informed decisions on those bills that are brought forward. The result is a more surgical approach to reviewing bills than under legacy methods found in the market today. The more refined results allow an adjuster to reallocate time once devoted to validating non-value bills to instead helping injured workers recover and return to work.

The partnership will enable Coventry and Acrometis to ensure the services they provide to the workers’ compensation market remain flexible and responsive to changes in industry regulations. The companies plan to continually collaborate on ways to improve adjuster efficiency and reduce unnecessary medical spending.

Genex Services Expands IME Services Through ECN Acquisition

Genex Services, a provider of medical cost containment and disability management services, announced its acquisition of Exam Coordinators Network (ECN), an established provider of independent medical examinations (IME) and peer review services for the non-occupational disability, automobile and workers’ compensation markets. Financial terms were not disclosed.

The Boca Raton, Fla.-based company has provided independent medical examinations and peer review services nationally since its founding in 1999. ECN has developed one of the stronger IME businesses in the industry, said Delphia Frisch, Genex COO, executive vice president.

ECN’s experience in the non-occupational disability and automobile insurance market enhances Genex’s IME and peer review services, expanding the diversification and geographic coverage of its strong provider network.

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