Hyland TL 9 7 2018
Follow Us
ITA MEMBERSHIP

CORE SYSTEMS

CORE SYSTEMS

Guidewire Acquires EagleEye Analytics

Staff Writer | March 29, 2016

Guidewire Software announces that it has agreed to acquire EagleEye Analytics, a provider of SaaS-based predictive analytics products specifically designed for Property & Casualty insurers. The transaction is expected to close imminently.

With this acquisition, Guidewire will enable its customers to apply predictive analytics to make better decisions across the insurance lifecycle. Guidewire will support the complete predictive analytics process including data preparation, model building, operational deployment, performance monitoring, and analytic feedback.

EagleEye’s products will be renamed Guidewire Predictive Analytics and will be available as part of Guidewire’s data and analytics product family. Two predictive analytics products will be available:

  • Guidewire Predictive Analytics for Claims addresses claims management decisions such as claim severity potential, claim routing and assignment, and identifying claims with litigation/subrogation potential.
  • Guidewire Predictive Analytics for Profitability addresses underwriting and distribution objectives such as accurate ratemaking and risk selection, underwriting cost reduction, maximizing customer lifetime value, and portfolio optimization.

“We welcome the EagleEye team to Guidewire, where their expertise in Property & Casualty processes and data science will advance our mission of enabling insurers to adapt and succeed in a time of significant change,” says Marcus Ryu, CEO, Guidewire Software. “Their products, as with the others built by our data and analytics team, will leverage and further differentiate the capabilities of Guidewire’s insurance platform, the most broadly adopted in the industry.”

“We are excited about how this acquisition will enable us to serve our customers,” says Neil Betteridge, vice president, strategy, Guidewire Software. “Adding advanced P&C predictive analytics functionality to our data and analytics products will enable carriers to make significantly better, faster decisions, leading to better outcomes for insurers and their policyholders.”  

“This is a very exciting day for the EagleEye team. As a leader in providing predictive analytics for Property/Casualty insurance we see the fit with Guidewire as ideal,” says Wade Bontrager, CEO, EagleEye Analytics and incoming vice president, predictive analytics, Guidewire Software. “We look forward to accelerating our journey in providing insurers with a comprehensive predictive analytics system that spans the insurance lifecycle and doing so as part of the Guidewire team.”

EagleEye has more than 30 insurance customers in North America and Europe. Nine of these customers are also existing Guidewire customers. The company is headquartered in Columbia, S.C. with offices in London. A privately held company, EagleEye is backed by FirstMark Capital in New York. 

Guidewire Predictive Analytics will be available to insurers in the Americas, Europe, Australia, and New Zealand, either standalone or to complement Guidewire PolicyCenter, or ClaimCenter.

Guidewire does not expect this transaction to have a material impact on revenue or non-GAAP profitability in the third quarter or full year fiscal 2016.       


Featured articles

MT RHS Rotating 4 10 2018

Hyland MR 9 7 2018

ELECTRONIC CHAT

The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.

ITA LIVE 2019

The tide is up! It's time to register for ITA LIVE 2019, our annual educational and networking conference! Our theme is "The InsurTech Revolution: Cutting Through the Hype." and we'll be bringing in a torrent of industry thought leaders, amazing insight and wonderful perspectives on the world of insurtech and its impact on the insurance landscape.

ITA LIVE 2019 will present real-life examples of true startup technologies that are helping insurers gain real advantage -- and a competitive edge -- in the marketplace. We’ll highlight the more successful InsurTech partnerships, while offering case studies that demonstrate exciting innovation and cutting-edge techniques impacting all aspects of the insurance ecosystem.

Ride the wave to LIVE 2019. Sign up today! We look forward to seeing you in May, 2019!

BLOGS AND COLUMNS

only online

Only Online Archive

ITA Pro Buyers' Guide

Vendor Views

Partner News