EagleEye Analytics Expansion in Canada Driven by 40% of Top P&C Insurers
October 1, 2012
Firm Adds Experienced Insurance Executive to Lead Canadian Growth Initiatives
COLUMBIA, SC – October 1, 2012 – EagleEye Analytics, theleading provider of predictive analytics for the property and casualtyindustry, is expanding its Canadian business. EagleEye, which hasworked with more than 40 percent of the top insurers in Canada, acrossall lines of P&C business, has announced that experienced insuranceindustry executive, Stephen Halfpenny, has joined the firm to leadbusiness development in Canada.
Halfpenny has more than 35 years of experience in the insuranceindustry, with executive roles in underwriting, marketing, and claims atAmerican Re-insurance Company, Munich Reinsurance Company of Canada andthe Guarantee Company of North America, with additional underwritingexperience at Allstate Insurance Company of Canada. Based in Toronto,he will lead EagleEye’s initiatives in Canada to help carriers leveragethe power of predictive analytics to improve operations.
The bar is being raised for Canadian insurers to advance theiranalytical capabilities. We are delighted to add an executive likeSteve to the team, given his deep understanding of the Canadianinsurance market, said Roger Burkhardt, President and CEO of EagleEyeAnalytics. We’re currently working with sophisticated carriers to usepredictive analytics beyond rating and underwriting; they are investingin our machine learning tools to improve decision making around customerretention and agent/broker strategies.
EagleEye’s total client base in Canada includes carriers of all sizes,from large global enterprises, to small and mid-sized insurers that arelooking to level the playing field by leveraging analytics. The firmhas a substantial presence in personal auto insurance – EagleEye clientswrite 46% of total private sector auto insurance in Canada – andclients are expanding their use of solutions in both personal andcommercial lines.
Our insight into the specific needs of the Canadian market has enabledus to bring solutions that drive immediate bottom line results. For alarge auto insurer, for example, we were able use analytics to apply ahigher level of granularity to quoting, expanding the criteria for newbusiness. Applying a new real-time quoting filter drove a five-pointimprovement in loss ratios for the carrier, explained Burkhardt.
About EagleEye Analytics
EagleEye Analytics provides transformative business solutions to theinsurance industry through the application of breakthrough predictiveanalytics technology. The company’s machine learning technology hasbeen customized for the unique requirements of the insurance industryand has been proven to give the best predictive results in over 160implementations. The firm’s customers improve profitability and growththrough enhanced real-time decision-making across their entire business;including pricing, underwriting, distribution and marketing. Aprivately held company, EagleEye Analytics is backed by FirstMarkCapital in New York. For more information visit EagleEye Analytics’website at www.eeanalytics.com.
