DENVER, Colo., July 15, 2008 -– Valen Technologies, the turnkey predictive analytics experts for the property and casualty (P&C) insurance industry, today announced Hawaii Employers’ Mutual Insurance Company (HEMIC) has selected Valen’s UnderRight predictive analytics solution. The implementation is currently underway and on track for production use in fall of 2008.

Valen’s UnderRight solution is being implemented to provide additional rigor, insight, and precision for HEMIC’s workers’ compensation underwriting process. Given the challenges of today’s soft market combined with an increasingly competitive environment, HEMIC looked to Valen for predictive analytics technologies to complement and maximize the expertise of HEMIC’s underwriting staff.

Bob Dove, HEMIC’s CEO, commented, “The combination of Valen’s data, experience, and product made for a very compelling value proposition. We were impressed with Valen’s predictive analytics solutions, but their knowledge of the workers compensation underwriting process and their experience developing predictive models were also very attractive to us. ”

Dove continued, “We believe that predictive modeling will provide us a competitive edge in this tough market. Being able to segment and closely analyze our business will enable us to credit aggressively and accurately on an account-by-account basis.”

“We welcome HEMIC as the latest insurer to join our client family, and we thank HEMIC for selecting us. It is especially gratifying that HEMIC recognizes not just the value of Valen’s product, but also the added value of our experience and wealth of data,” said Dax Craig, President and CEO of Valen Technologies. “We look forward to continuing our work with the HEMIC team as we complete development of their workers’ compensation predictive models and move them into a production environment.”

“We have done a good job regarding pricing,” says Dove, “but rates have dropped precipitously and margins are disappearing. We expect UnderRight to further improve our “right price” initiative and streamline our underwriting process.”

About Hawaii Employers’ Mutual Insurance Company (HEMIC)

HEMIC is a workers’ compensation insurance specialist and Hawaii’s leading workers’ compensation insurer. From its inception in 1997 HEMIC has embraced technology as a key factor in differentiating itself from the market. HEMIC’s success is demonstrated by its market position, strong operating results, and “A” ratings from both A.M. Best and Fitch. High quality, tightly integrated systems and a state of the art data warehouse/business intelligence tool have allowed HEMIC to “right price” its book of business.

For additional information, visit www.hemic.com.

About Valen Technologies

Valen Technologies is the expert in turnkey predictive analytics for the property and casualty insurance industry, offering highly automated predictive analytics solutions to create and deploy predictive models. Valen helps its customers improve decision making by using predictive analytics in the decision process. Valen provides a turnkey predictive analytics solution that includes building, deploying, monitoring and refreshing highly multivariate, non-linear predictive models. To learn more about predictive modeling and Valen Technologies, visit www.valen.com or call 800-280-3304.