Guidewire Software has agreed to acquire EagleEye Analytics, a provider of SaaS-based predictive analytics products specifically designed for property/casualty insurers.
Financial terms were not disclosed, but Guidewire said in a statement that the transaction is expected to close imminently and will not have a material impact on revenue or non-GAAP profitability in the third quarter or for full-year fiscal 2016.
Guidewire said the acquisition will enable its customers to apply predictive analytics to make better decisions across the insurance life cycle, 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 will address claims management decisions such as claim severity potential, claim routing and assignment, and identifying claims with litigation/subrogation potential.
- Guidewire Predictive Analytics for Profitability will address underwriting and distribution objectives such as accurate ratemaking and risk selection, underwriting cost reduction, maximizing customer lifetime value, and portfolio optimization.
Guidewire Predictive Analytics will be available to insurers in the Americas, Europe, Australia and New Zealand, as either a standalone product or to complement Guidewire PolicyCenter or ClaimCenter.
Source: Guidewire Software