Milliman and EagleEye Analytics Fortify Strategic Alliance with Growth and Profitability Solution for Insurers
SEATTLE, Sept. 19, 2011 /PRNewswire/ – Milliman, Inc., a premier global consulting and actuarial firm, today announced the next phase in its strategic alliance with EagleEye Analytics, an insurance solutions company that provides predictive analytics to the insurance industry. The firms’ new solution focuses on providing property & casualty and life insurers with information that can fuel increased profitability.
“In three years of working together with EagleEye, we have helped numerous property & casualty clients find profitable segments within their portfolios using their own internal data, and have developed specific action plans to capitalize on these opportunities,” said Nancy Watkins, Milliman principal and consulting actuary. “Now we have expanded our alliance to include life insurance exposures and provide clients with even more powerful solutions. The Milliman/EagleEye strategic alliance unleashes the full power of predictive analytics for companies seeking a competitive advantage.”
“Our life insurance and annuity company clients are constantly trying to analyze their data to find ways they can make their organizations more efficient and thereby provide greater value to their customers,” said Tim Hill, Milliman principal and consulting actuary. “EagleEye’s analytics can help companies dramatically increase their ability to understand and leverage the considerable amount of data they possess. We are very excited to be able to apply EagleEye’s best-in-class analytics to the challenges faced by life insurance companies.”
The combination of consulting services from Milliman and analytic software from EagleEye provides information that can be used by companies to improve strategies for growth, identify underperforming segments, and develop priorities for re-underwriting or rate actions.
“We are excited by the continued evolution of our relationship with Milliman,” said Terry Wade, president and chief executive officer of EagleEye Analytics. “Many companies are looking for growth strategies, particularly with the soft market. The pairing of Milliman’s consulting breadth and EagleEye’s sophisticated analytics can provide these companies a competitive advantage by improving their rate-making, underwriting, marketing, and distribution management, thereby fueling new growth. “
Milliman is among the world’s largest independent actuarial and consulting firms. Founded in 1947 as Milliman & Robertson, the company currently has 53 offices in key locations worldwide. Milliman employs over 2,500 people. The firm has consulting practices in healthcare, employee benefits, property & casualty insurance, life insurance and financial services. Milliman serves the full spectrum of business, financial, government, union, education and nonprofit organizations. For further information, visit www.milliman.com
About EagleEye Analytics
EagleEye Analytics empowers insurance carriers to dramatically improve results using the most robust predictive analytics available in the property and casualty insurance industry. An in-depth understanding of insurance and business economics is an essential component of EagleEye’s value. Combining this expertise with sophisticated multivariate, non-linear machine learning algorithms, EagleEye Analytics’ solutions provide significant financial improvements and competitive advantages for clients. 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.
SOURCE Milliman, Inc.