COLUMBIA, S.C., June 27, 2013 (GLOBE NEWSWIRE) -- American Agricultural Insurance Company (AAIC), the largest, independent American-owned reinsurance company in the United States, is committed to providing solutions that promote the financial strength of the Farm Bureau insurance companies throughout the United States. AAIC has partnered with EagleEye Analytics' to license its predictive analytics software platform, TalonTM. EagleEye's solution suite will provide the tools necessary to leverage predictive analytics to increase profitability, target new and existing markets with the most effective pricing, and to enhance the performance of agent channels.
EagleEye, the leading provider of advanced predictive analytics solutions to the property and casualty insurance industry, will provide its predictive analytics platform to AAIC customers. AAIC chose to partner with EagleEye because its software offers a high degree of flexibility, combined with the most advanced predictive analytics technology.
AAIC's customers will have the option of using the software to build their own models, or to use EagleEye's software in combination with support from AAIC's professional staff. Those customers will also have access to EagleEye's Real-Time Scoring Service, as well as management tools and dashboards to monitor predictive analytics outputs and results.
"Our customers face an increasingly challenging environment in which granular rating is needed to be competitive and grow market share. Providing access to EagleEye's predictive analytics solutions allows our customers to implement business strategies to optimize their operating performance. Not only is AAIC helping them identify trends, but as their reinsurer of choice, we are providing the tools needed for their long term success," said Darnell Pettengill, AAIC's Senior Vice President of Business Development.
"EagleEye understands the unique challenges of the insurance industry, and we have significant experience in working with AAIC's customers to help them enhance pricing and underwriting performance using predictive analytics," said Doug McCracken, EagleEye Analytics' Senior Vice President of Business Development. "We are excited about the partnership with AAIC to help its customers use predictive analytics not only for pricing and underwriting, but also to expand the use of predictive analytics to strengthen the performance of their distribution channels, claims management, and to predict customer lifetime value."
About American Agricultural Insurance Company
AAIC, based in Schaumburg, Illinois, ranks among the top domestic reinsurance organizations in the United States. AAIC is a direct provider of reinsurance to Farm Bureau insurance companies and participates in assumed U.S. and non-U.S. reinsurance programs through the broker marketplace. AAIC is focused on building financial strength and increasing shareholder value. They offer innovative and flexible products that are individually tailored to each customer.
About EagleEye Analytics
EagleEye offers state-of-the-art machine learning software, a business intelligence reporting suite, a real-time scoring service, and premier predictive analytics consulting customized for the unique requirements of the insurance industry. EagleEye's customers achieve quantifiable and meaningful results by applying modern predictive analytics across four insurance business processes – prospecting new customers, onboarding new customers, managing existing customers and managing claims. The firm's solutions have proven to give the best predictive results in over 160 engagements. A privately held company, EagleEye Analytics is backed by FirstMark Capital in New York. For more information, visit, EagleEye Analytics' website at www.eeanalytics.com.
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Source: EagleEye Analytics