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SOURCE EagleEye Analytics
Insurer to use analytics to drive profitable, long term growth for their members
COLUMBIA, S.C., Sept. 4, 2014 /PRNewswire/ -- EagleEye Analytics, the leading provider of transformative business solutions to the insurance industry through the application of breakthrough predictive analytics technology, announced that it has entered into a long-term services agreement with Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property/casualty insurer exclusively designed for responsible high net worth individuals and families. EagleEye will provide its predictive analytics solutions suite, TalonTM, to PURE, giving the insurer the ability to underwrite and price with greater precision in support of PURE's goal to provide highly competitive and stable rates to their membership.
EagleEye will work alongside Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and member of Marsh & McLennan Companies, to help PURE continue to provide exceptional value to its members by optimizing risk selection and pricing.
"PURE is committed to creating an exceptional member experience, inclusive of comprehensive coverage, unrivaled claims and risk management services, and stable, uniquely competitive rates," said Steve Oakley, SVP, Product Management and Chief Actuary of The PURE Group. "These powerful predictive analytical tools help us to both enhance our offerings and more effectively manage our business through better risk selection and pricing."
"We are delighted to partner with PURE Insurance as the most recent carrier to join our client community, and are gratified by the confidence placed in us," said Wade Bontrager, CEO, EagleEye Analytics. "A data-driven approach to insurance, which includes leveraging analytics to analyze and report on the health of the business, target and price desired customers appropriately and manage claims more effectively leads to profitable growth. PURE's focus on making real-time decisions with granular predictive intelligence provides them a significant competitive advantage. We look forward to a long-lasting relationship."
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 in the United States, Europe, Canada and Australia. EagleEye is headquartered in Columbia, South Carolina and has a subsidiary in London, UK. A privately held company, EagleEye Analytics is backed by FirstMark Capital in New York. For more information, visit eeanalytics.com.
Privilege Underwriters Reciprocal Exchange (PURE) is the policyholder-owned insurer dedicated to creating an exceptional experience for responsible high net worth individuals and families. PURE provides best-in-class, customizable coverage throughout the U.S. for high-value homes, automobiles, jewelry, art, personal liability, watercraft and flood. Inspired by some of the finest policyholder-owned companies in the world, PURE emphasizes alignment of interests and transparency. PURE's low cost of capital, careful member selection, and proactive risk management all contribute to highly competitive rates. As a member of The PURE Group, PURE is rated A- "Excellent" for Financial Strength by A.M. Best. In return for a fee, PURE Risk Management, LLC acts as Attorney-in-Fact for PURE. For more information or to find a local agent, visit pureinsurance.com.
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