COLUMBIA, S.C., March 13, 2014 (GLOBE NEWSWIRE) -- EagleEye Analytics, the leading provider of transformative business solutions to the insurance industry through the application of breakthrough predictive analytics technology, announced today their expansion to the UK.
As more and more carriers in the UK and throughout Europe migrate from legacy systems to modern technology, they have been able to adapt both their rating structure, implementation speed and distribution channels to the demands of the marketplace. With the regulatory environment rapidly evolving, rules are now being revised that will impact how insurers do business. Having a dedicated presence will enable EagleEye to work with these carriers more closely and develop programs tailored to the unique needs of insurers operating in those markets.
"The UK market is a hyper-competitive environment," stated Jason Paschalides, Director, EagleEye Analytics (UK) Ltd. "Insurers are making very good use of analytics and continue to do more to see the complete picture, especially with respect to mispriced risks in the aggregator market. EagleEye's advanced methods enable insurers currently using a linear method of analyzing data to make decisions with the additional accuracy needed to understand current underwriting segments in more detail while profitably expanding underwriting footprints with greater confidence."
"This reaffirms EagleEye's commitment to both the global market and carriers of all sizes. The technology that we offer gives insurers an unprecedented level of insight into their data," said Wade Bontrager, CEO, EagleEye Analytics. "Insurers that focus on making real-time decisions with granular predictive intelligence have a significant competitive advantage."
EagleEye's software and services provide clients a level of unmatched predictive analytics' precision that gives them a competitive advantage in the marketplace. The information extracted from their data enables them to develop optimal pricing, effectively manage claims and understand what distribution channels and marketing tactics bring them the best business.
About EagleEye Analytics
EagleEye Analytics offers the most advanced predictive analytics software and consulting services available to the property and casualty insurance industry today. The quantifiable results from the company's unique machine learning capabilities enable insurance carriers to make tactical and strategic decisions that help drive profitable growth and reduce operating expenses. EagleEye's customers have achieved quantifiable and meaningful results by applying modern predictive analytics across the most important insurance business processes – product marketing and distribution, pricing and underwriting, and managing claims. The firm's solutions have proven to give the best predictive results in over 200 engagements. EagleEye is headquartered in Columbia, South Carolina and has offices in Sydney, AU and London, UK. A privately held company, EagleEye Analytics is backed by FirstMark Capital in New York. For more information, visit www.eeanalytics.com.
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Source: EagleEye Analytics