Zurich Insurance Group will test a South Carolina company’s predictive analytics technology in a 14-month trial.
Zurich’s deal with EagleEye Analytics is part of its global advanced analytics initiative, according to the joint announcement. Columbia, S.C.-based EagleEye produces machine learning predictive analytics technology for insurance, and its Talon Predictive Analytics System will be a focus of the project.
Neither side is disclosing financial details, though Zurich and EagleEye have worked together before. EagleEye, in the deal announcement, noted an earlier proof of concept project it pursued with Zurich modelers in Brazil and Italy. This earlier collaboration focused on EagleEye’s machine learning algorithms and analytics methodologies, plus the usability of its Talon system.
EagleEye CEO Wade Bontrager said the contract with Zurich came comes after a “rigorous” vetting process followed by the global P/C multiline carrier.
With the deal in place, EagleEye is “part of a global effort that will demonstrate the applicability of the Talon predictive analytics system to property and casualty books in markets around the world,” Bontrager said in prepared remarks.
Source: EagleEye Analytics/Zurich Insurance Group